A comprehensive look at ICC's latest rules on combating corruption

The ICC has launched its 2023 Rules on Combating Corruption, establishing a new benchmark for corporate practices globally. These rules update the 2011 edition, aligning with contemporary standards and corporate practices, and were developed under the leadership of the ICC Global Commission on Anti-corruption and Corporate Responsibility.

The rules were launched on December 11 by ICC Chair Maria Fernanda Garza at the UN Conference of the States Parties to UN CAC in Atlanta, coinciding with the 20th anniversary of the UN Convention against Corruption.

What key changes or additions have been made?

The 2023 ICC Rules strengthen provisions for reporting mechanisms, crucial for uncovering and deterring wrongdoing. There's a heightened focus on engaging and managing Third Parties, recognizing their vulnerability in the supply chain. Notably, these rules emphasize the promotion of Responsible Business Conduct, acknowledging enterprises' role in sustainable development.

What steps can businesses take to combat corruption according to these rules?
Businesses are advised to establish a code of conduct prohibiting corrupt practices. They should implement compliance programs tailored to their risk profiles, addressing aspects like political contributions, conflicts of interest, gifts, and hospitality. A proactive stance is crucial for identifying, managing, and addressing integrity issues.

What is ICC’s role in influencing global anti-corruption efforts?
ICC has long emphasized the role of enterprise compliance with self-imposed rules. It recognizes the responsibilities of international organizations and national governments in the fight against corruption. ICC, having issued anti-corruption rules since 1977, provides practical guidelines for responsible business conduct.

What potential impact do these updated rules have on the day-to-day operations of businesses?
The 2023 Rules are expected to set a new benchmark for corporate practices, particularly benefiting SMEs without legal departments. These rules offer practical guidance, serving as a tool for managing integrity risks in global value chains. ICC envisions them as instrumental in fostering a corruption-free system, ensuring fair competition for all participants.