The 2023 Rules on Combating Corruption, recently launched by the International Chamber of Commerce (ICC), mark a significant milestone in shaping global corporate practices for handling integrity risks across value chains. Regarded as a pivotal resource for cultivating business integrity worldwide, these rules represent an update from the earlier 2011 edition, aligning with contemporary standards and corporate approaches. Developed under the guidance of the ICC Global Commission on Anti-corruption and Corporate Responsibility, the launch occurred on December 11 at the commencement of the UN Conference of the States Parties to UN CAC in Atlanta, led by ICC Chair Maria Fernanda Garza.
During the 10th Conference of States Parties (CoSP 10), which coincided with the 20th anniversary of the UN Convention against Corruption, the ICC Rules were unveiled to assess avenues for strengthening the implementation of this binding instrument. Prior to the release, we engaged in a discussion with Viviane Schiavi, ICC Global Policy Lead on Anti-corruption and Corporate Responsibility, shedding light on the new rules and the role businesses can play in combating corruption.
The 2023 ICC Rules on Combating Corruption introduce enhancements aimed at facilitating reporting mechanisms crucial for uncovering and deterring wrongdoing. Notably, the provisions related to engaging and managing Third Parties have been reinforced, recognizing their vulnerability in the supply chain’s integrity. A noteworthy addition is the call for the promotion of Responsible Business Conduct, marking a significant shift as businesses are increasingly expected to contribute positively to sustainable development and address adverse impacts related to their operations.
Regarding proactive measures, businesses are urged to establish a code of conduct explicitly prohibiting corrupt practices in all forms, including bribery, extortion, trading in influence, and money laundering. This prohibition extends to both direct and indirect engagement through Third Parties. To further instill integrity, companies are encouraged to develop compliance programs tailored to their business activities, incorporating risk assessments and addressing areas such as political contributions, conflicts of interest, gifts, and hospitality.
The ICC has consistently emphasized the pivotal role of enterprises in complying with self-imposed rules while acknowledging the shared responsibility of international organizations and national governments in the anti-corruption effort. Having initiated anti-corruption rules as early as 1977, the ICC believes in fostering a corruption-free system to ensure fair competition on a level playing field.
The impact of these updated rules on businesses’ day-to-day operations is expected to be profound. Acting as a benchmark for corporate practices, the rules provide a valuable tool, especially for small and medium-sized enterprises (SMEs) lacking legal departments. These guidelines offer clear considerations and actionable steps that businesses can implement to manage integrity risks effectively within their global value chains.
