Business Bayani PH

The International Chamber of Commerce (ICC) has rolled out its 2023 Rules on Combating Corruption, aiming to upgrade global business integrity. Released on December 11 during the UN Conference, these rules, led by ICC chair Maria Fernanda Garza, set a fresh standard for corporate behavior worldwide.

Designed as a guide for businesses, the 2023 Rules build on the 2011 edition, adapting to modern standards. Under the leadership of the ICC Global Commission on Anti-corruption and Corporate Responsibility, these rules address the need for a transparent and accountable business environment.

Viviane Schiavi, ICC global policy lead on anti-corruption and corporate responsibility, highlighted key updates. She explains that the 2023 ICC Rules on Combating Corruption enhance the rules related to reporting mechanisms, which are crucial for uncovering and stopping wrongdoing. This emphasizes the importance of transparent and accountable practices in business operations.

The rules also tighten the focus on engaging and managing third parties, recognizing their role in the supply chain’s integrity. Notably, these rules mark the first time the ICC urges the promotion of responsible business conduct, aligning with the evolving expectation for businesses to contribute positively to sustainable development.

For businesses wondering how to tackle corruption, Schiavi suggests starting with a clear code of conduct. “Companies should establish a code of conduct or company rules stating that corrupt practices are strictly forbidden,” she emphasized. This includes bans on commercial or public bribery, extortion or solicitation, trading in influence, and laundering proceeds from these practices. Importantly, this prohibition applies both directly and indirectly through third parties.

Businesses are encouraged to take a proactive approach by developing compliance programs based on tailored risk assessments. These programs help identify, manage, and address integrity risks, covering areas like political contributions, conflicts of interest, and gifts.

ICC has a history of advocating for businesses to comply with self-imposed rules in the fight against corruption. Since 1977, ICC has provided practical rules and guidelines, recognizing the shared responsibility of international organizations and governments in the anti-corruption effort.

Looking at the impact of these rules on daily business operations, the ICC anticipates they will become a benchmark for managing integrity risks globally. Particularly beneficial for small and medium-sized enterprises (SMEs) without legal departments, these rules offer clear guidelines for effective anti-corruption measures.

In essence, the ICC’s 2023 Rules on Combating Corruption represent a crucial step in the global fight against corruption. By emphasizing reporting mechanisms, third-party engagement, and Responsible Business Conduct, these rules empower businesses to proactively combat corruption and foster a climate of transparency and accountability.◼