U.S. Sanctions on Companies

from Iran as Parties in ICC Arbitration Cases

ICC Switzerland has addressed the issue of sanctions and arbitration in a number of ways, including organizing a seminar with the leading arbitral institutions and the competent U.S. authority OFAC in 2015. Due to sanctions policies and compliance requirements, banks could not make payments to arbitral institutions and arbitrators if one or more parties had a connection to a sanctioned country. According to ICC Switzerland, this resulted in an unacceptable denial of access to justice, a fundamental right of all actors in the market. Finding a solution in the case of ICC dispute resolution is even more complicated, as various regulatory and supervisory authorities are involved.

New ICC Report

The Circular Economy and International Trade: Options for the World Trade Organization

This report explores the interface between trade and a transition to a more circular economy. In today’s highly integrated economy, international trade plays a critical role in facilitating this transition, by exploiting existing comparative advantages and allowing economies of scale. Goods and services already cross borders at virtually all stages of the circular value chain, from upstream design services to remanufactured goods and secondary raw materials. Yet trade policies are not always aligned with circularity objectives. Similarly, policies aimed at fostering a circular economy can have detrimental effects on trade even if unintended. As the role of trade and trade policy attracts more attention, understanding how it can effectively support a circular economy transition becomes critical for policy makers.

ICC Framework

for Responsible Environmental Marketing Communications

Background

There has been growing interest by the media, government, consumers, and other stakeholders about the impact of human activities on the environment and how to promote “sustainable” consumption and use.  As such, the past few years have seen a renewed interest in environmental marketing, particularly in the context of growing momentum on climate action globally, including collective efforts by governments and businesses to mitigate the threats of climate change and promote sustainable consumption. 

Global business tells governments at COP26: put a price on carbon, but do it the right way

Glasgow, 3 November 2021

The International Chamber of Commerce (ICC) has today called on governments to “get smart” in how they use carbon pricing instruments to accelerate the transition to a net-zero economy at the lowest possible economic cost. 

At an informal dialogue with finance ministers at COP26, the global business organization will publish the findings of an extensive survey of companies’ experience operating under the 60 different carbon pricing regimes in force today throughout the world. 

Crisis with Credit Suisse and Nestlé case study

International Chamber of Commerce (ICC) Report on Business Actions to Mitigate Climate

ICC United Kingdom published a new report with over 50 case studies, including very relevant case studies by Credit Suisse and Nestlé, from more than 20 countries to demonstrate practical business actions to mitigate climatecrisis.

Find the complete report here for download.

The ICC-CCIG Series - Trade and Health

Tuesday, 26 October 2021 

17:00 - 19:30

CCIG, Boulevard du Théâtre 4, Genève

More Information, Programme and registration here.

The “ICC-CCIG Series” address major themes related to international trade with a dual purpose: updating Members on issues that are currently being discussed at the United Nations, World Trade Organization and other international organizations in Geneva ; and illustrate the way businesses, actors of world governance, civil society and researchers can successfully cooperate towards common global goals.

This event will discuss the key priority areas that Member States will be addressing at the upcoming World Trade Organization’s (WTO) Ministerial Conference (MC12), from 30 November to 3 December in Geneva. These include environmental sustainability, digital economy, trade and health. A sharp focus will be given to the response to the COVID-19 pandemic and future health crises, and the way SMEs can contribute to a healthier global trading system.