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ICC has launched its new 2023 Rules on Combating Corruption setting a new benchmark for corporate practice in managing integrity risks throughout global value chains.
Overview
Recognised as a flagship tool for building business integrity around the world, the new ICC Rules update the previous 2011 edition according to new standards and corporate practices. They have been developed under the leadership of the ICC Global Commission on Anti-corruption and Corporate Responsibility.
Launch
The 2023 Rules on Combating Corruption were launched on December 11 by ICC Chair Maria Fernanda Garza at the start of the UN Conference of the States Parties to UN CAC in Atlanta. The 10th Conference of States Parties (CoSP 10), on the 20th anniversary of the UN Convention against Corruption, takes stock of what more can be done to enhance the implementation of this legally binding instrument.
Changes in ICC rules
The 2023 ICC Rules on Combating Corruption bolster provisions to enable reporting mechanisms that play a key role in uncovering and deterring wrongdoing. Also, the new Rules reinforce the section on engaging and managing Third Parties, because Third Parties often present the weak integrity link in the supply chain. Last, but not least, for the first time, ICC’s Rules on Combating Corruption call for the promotion of Responsible Business Conduct, as enterprises are increasingly expected to make positive contributions.
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