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< Back < Previous | Next > Arbitration in Focus Tom Scott 3 Nov 2025 Bas van Zelst is a partner at Enhance Arbitration, a law firm dedicated exclusively to arbitration. Enhance provides (co-)counsel, arbitration and advisory services. He is also a member of the ICC Netherlands Arbitration & Dispute Resolution Committee. In this article, he talks about the main definitions and characteristics of arbitration – and how these differ from litigation. He also outlines what makes the Netherlands an attractive seat of arbitration, and shares his thoughts on the link between arbitration and peace. Getting some answers about arbitration: a conversation with arbitration specialist Bas van Zelst As soon as we sit down with Bas to pick his brains about the role of arbitration in dispute resolution, he starts by giving us a couple of general statements to set the scene. The first relates to a question that he is often asked: what is better – arbitration or litigation? “The key point is that it’s really a matter of ‘horses for courses’ in that dispute resolution is really about finding the right fit to the particular dispute or disagreement. I would also add mediation to the dispute resolution equation. In mediation, the parties themselves decide whether to settle the dispute. In arbitration, the arbitrator issues a binding decision. That makes mediation less suitable for certain types of disputes.” The second point Bas wants to make is more of an opinion, one that goes against the commonly shared view that legal contracts are set in stone: inflexible and immovable. “Parties include a certain type of dispute resolution mechanism in their initial contract. However, if and when a dispute arises months or years later, the setting may now actually be much more suitable to a different type of dispute resolution,” he says. “So don’t take the dispute resolution mechanism that you agreed to at the contracting stage as final. Have a conversation about what fits the dispute best; the situation might have changed.” The rigidity of the courts vs. the agility of arbitration This opinion outlines a crucial characteristic of arbitration as a dispute resolution method: the value of staying flexible when discussing processes. This reflects a significant difference between arbitration and litigation. “Courts have their standard set of rules that they apply rather indiscriminately to every case they deal with. This is the good thing about arbitration: it offers flexibility to the parties in agreeing on the procedure most suited to an effective resolution of the dispute.” We ask Bas if there are any other explanations that some business-to-business disputes are better resolved by arbitration. Confidentiality and international enforcement are his two first answers. “Having the arbitration proceedings take place outside the public eye is another reason for arbitration to be preferred. And the New York Convention of 1958 – which is applicable in 172 jurisdictions worldwide – means that arbitral awards can be enforced internationally. This is a big upside.” What about the costs? According to Bas, the subject of costs raises one of the biggest misconceptions that businesses have about arbitration. “That arbitration is per se more expensive than going through the courts. This is not always true – especially when you consider the value of expertise, confidentiality and the finality of the decision. The idea of arbitration is that it is a one-stop-shop; there’s no appeal, the decision is final.” We wrap up talking about the characteristics of arbitration by looking at how it is very much outcome-focused. “Judges tend to be generalists right by nature, whereas arbitrators are appointed for their particular expertise – they have actual knowledge on the particular topic and offer the parties guidance on how to best resolve their dispute.” Moreover, he says, arbitrators are very much mindful of preserving the commercial relationship between the two parties. “Litigation is about the past, but businesses like to think about the future.” Focusing on the Netherlands Our conversation with Bas turns towards the Netherlands. We often hear the country termed a ‘seat of arbitration.’ What does that actually mean? “The seat of arbitration refers to where the arbitration formally takes place and the arbitration law – the so-called lex arbitri – that is applicable in that jurisdiction. The arbitration act in that jurisdiction sets out formal requirements for the arbitration process; for example on how arbitrators are appointed. Oftentimes, parties deviate from default provisions in the applicable arbitration act. They may do so, for instance, by reference to the rules of an arbitration institute – such as the ICC. These rules provide specific arrangements – including on appointment of arbitrators.” How does the Dutch legal framework support arbitration compared to other jurisdictions? “The Netherlands has a rich history as a trading nation, and today this translates to having a supportive approach to international business,” answers Bas. “The Netherlands is an arbitration-friendly jurisdiction. The Arbitration Act – revised in 2015 – has helped make cases less susceptible to be set aside. Likely thousands of arbitration cases are conducted every year in the Netherlands. My research provides that only a very small percentage of the resulting awards get set aside. I think that’s good news for parties seeking to resolve their disputes within the Dutch arena.” A relevant player in this Dutch arbitration arena is the ICC, which offers arbitration services and all the associated administrative matters. What sets the ICC apart, says Bas, is the concept of scrutiny. “The ICC court assesses arbitral awards for quality, providing suggestions to arbitrators on how the award can be improved. This ensures that the arbitral awards stand up to further scrutiny in, for instance, the context of a normal proceedings with the state court.” Arbitration: a broader tool for peace? For us, the link between arbitration and the ICC is tangible. The first is an often international dispute resolution process known for its balanced and constructive methods. The second is an international organisation borne out of the desire to promote peace through international trade. In fact, the ICC often speaks about arbitration as a tool for peace. How does Bas see this connection? “Historically, arbitration has served to help parties with broad opposite perspectives resolve disputes. This idea – of resolving disputes amicably – aligns well with the ICC’s broader mission as the World Business Organization: to create peace through trade. You only need to open a newspaper to see what happens when conflicts go unresolved.” As Bas reminds us, arbitration is more than a mechanism for resolving disputes – it’s a practice rooted in dialogue, expertise and mutual respect, principles that underpin the ICC’s global mission. Read more. DAA 2015 Quo Vadis? An Empirical and Substantive Analysis of Decisions on Applications for Set-Aside of Arbitral Awards under the Dutch Arbitration Act of 2015: Has the Dutch Legislator Reached Its Objectives? Bas van Zelst Journal of International Arbitration Volume 42, Issue 5 (2025) pp. 661 – 690 httpss:// doi.org/10.54648/joia2025043 Bas van Zelst Bas van Zelst is co-founding partner at Enhance Arbitration in Amsterdam . He acts as counsel and arbitrator in investment and commercial matters – including construction cases . He is frequently engaged as expert and has particular experience in matters pertaining to the annulment of ISDS awards. Bas combines his legal practice with his position as professor of Dispute Resolution and Arbitration at Maastricht University . He is a member of the editorial board of the Dutch Journal on Arbitration (TvA) and sits on the advisory board of the Netherlands Arbitration Institute . Bas regularly acts as expert in relation to both Dutch and foreign seated arbitration proceedings. He is also a CEDR accredited mediator . Bas holds an LLm and a PhD degree from the University of Amsterdam. He was a visiting researcher at Harvard Law School in 2006/2007 and a visiting professor at the University of British Columbia (CA) in 2017.

< Back < Previous | Next > Business takeaways from the first rounds of UN Tax Framework Convention negotiations Luisa Scarcella (Global Policy Lead – Taxation and Trade) 20 Aug 2025 ICC is advocating for predictable, stable global tax rules to support cross-border trade and investment at the first rounds of United Nations Tax Framework Convention talks. Taxpayer rights, rigorous economic analysis, clarity on new instruments and effective dispute prevention and resolution were championed as key priorities for business. What’s the UN Tax Framework Convention and why does it matter for business? The negotiations for a United Nations Framework Convention on International Tax Cooperation could redefine the foundations of international taxation, which naturally carry implications for business. Predictable and economically sound tax rules are essential for cross-border trade and investment. As the institutional representative of businesses worldwide and a Permanent Observer to the United Nations, ICC is engaging throughout this process by advocating for a system that delivers the stability businesses need to drive growth and sustainable development. Who is steering the talks and what’s the roadmap? The Intergovernmental Negotiating Committee (INC) is leading this process. The negotiations build on long-standing advocacy efforts from developing countries and the commitments in the 2015 Addis Ababa Action Agenda, which called for inclusive decision-making in international tax advocacy and to increase the mobilisation of resources towards the 2030 Agenda. In early 2024, an ad hoc UN committee negotiated the Terms of Reference for the process, setting out its scope, objectives and timeline.Crucially, the TOR included the decision of having two early protocols that would be developed in parallel with the Framework Convention itself. Negotiations are scheduled to run from 2025 to 2027, with the final text — including both protocols — expected to be presented to the UN General Assembly by autumn 2027. The Framework Convention will establish broad principles and mechanisms for international tax cooperation, while the protocols will deal specifically with cross-border taxation of services (drawing on provisions from Articles 12A, 12B, and 12AA of UN model conventions) and on tax dispute prevention and resolution. In August 2025, the first two substantive sessions of negotiations took place, following the release of issue notes on the Framework Convention, the two early protocols, as well as a public consultation to which the ICC provided the following submissions: ICC response to issue notes on the Framework Convention ICC response to cross-border taxation of services early protocol ICC response to tax dispute prevention and resolution earlyprotocol Week 1 discussions Week one in New York focused on the initial commitments to be included in the Framework Convention: the fair allocation of taxing rights, dispute prevention and resolution and sustainable development as well as the need for administrative cooperation. Most countries expressed a preference for high-level commitments, while some voiced a preference for first agreeing on the underlying principles. Key design questions still remain, including whether the new system will function as a Multilateral Instrument (akin to the OECD MLI) or more like the recent Fast-Track instrument designed by the UN Tax Committee of Experts. Work continues through member-country only meetings. Week 2 discussions Week two turned to the early protocols. Protocol on Cross-Border Taxation of Services : discussions centered around gross and net basis withholding taxes, nexus rules that do not require physical presence, data needs to verify service provision and dispute resolution. References have also been made to the recently adopted Article 12AA of the UN Model – which substantially change the way cross-border services are taxed, prescribing gross-basis taxation without any physical presence required – as well as Digital Services Taxes and similar measures adopted in some countries such as France, Nigeria and Colombia. Protocol on Tax Dispute Prevention and Resolution : conversations focused on current gaps in mechanisms. Open issues included scope – whether the protocol is limited to Framework Convention related disputes or all cross-border tax disputes – how to resolve cases where no treaty exists and whether to include tax arbitration. ICC advocacy priorities Inclusion of taxpayers rights among the principles of the Framework Convention to ensure tax certainty alongside the right to be heard, the right to fair treatment and the right to confidentiality, among others. Importance of economic analysis to verify that any solutions can truly be effective and not represent a barrier to trade and investment, such as gross-basis withholding taxes Tax policy should foster cross-border trade and investment that creates jobs and sustainable economic growth, not act as a barrier. Clarity over the relationship with current tax treaties and other multilateral solutions. The importance of dispute prevention (through, for example, cooperative compliance and advance pricing agreements) and ensuring that effective and efficient mechanisms are in place when disputes do arise (e.g. binding arbitration). Continuous dialogue between governments and businesses , which can share practical experience and insights. Learn more or help shape the ICC perspective at the UN Tax Framework Convention ICC will be participating in the next negotiation session on 10-21 November 2025 in Nairobi, Kenya. For further information on the negotiations, potential business impacts and how to get involved with the work of the ICC Global Tax Commission, please contact Luisa Scarcella (Global Policy Lead – Taxation and Trade) at Luisa.SCARCELLA@iccwbo.org and Vidusshi Singh (Policy Advisor – Banking and Tax) at Vidusshi.SINGH@iccwbo.org .

< Back < Previous | Next > Taxes Recent Developments in the World of Tax 17 Feb 2025 The ICC is at the forefront of global tax discussions, ensuring that businesses have a strong voice in shaping fair and effective tax policies. From VAT regulations to the development of a United Nations (UN) tax framework, ICC works to create a tax environment that fosters trade, investment, and economic growth. VAT & Tariffs The recent policy brief issued by the ICC clarifies the distinctions between VAT and import tariffs, emphasizing VAT’s positive role in global trade. This comes in response to concerns raised by the U.S. in the ‘Fair and Reciprocal Plan’ about VAT potentially discriminating against American businesses. In the VAT system, businesses act as intermediaries that collect and remit the tax at each stage of the supply chain, but the final cost is absorbed by the end consumer. This structure ensures that VAT is effectively a consumption tax, with each participant in the supply chain reclaiming the VAT on their inputs so that the tax burden accumulates only at the final point of sale. As a result, VAT, is inherently neutral and non-discriminatory toward foreign businesses, reinforcing its role as a fair and efficient mechanism in international trade.Recognising these benefits, the ICC has been at the forefront of these discussions, advocating for balanced VAT policies that help eliminate unnecessary trade obstacles. More information on the role of VAT in international trade can be found here. The UN Tax Convention: ICC Representing Business Interests In 2024, the United Nations General Assembly established an intergovernmental negotiating committee to draft an UN Framework Convention on International Tax Cooperation. This process, running from 2025 to 2027, aims to create a clear and fair global tax framework that improves cooperation between countries. On 16 August 2024, the UN Ad Hoc Committee approved the Terms of Reference for the convention, marking a significant milestone in the process of developing new cross-border taxation rules. This approval sets the stage for future negotiations, shaping policies that will impact businesses globally. ICC has been actively involved in these discussions to ensure that the convention: • Promotes tax certainty and aligns with existing international frameworks. • Encourages investment, job creation, and sustainable economic growth. • Includes meaningful engagement with businesses throughout the negotiation process. Key Concerns and ICC’s Advocacy Efforts During the negotiations, ICC Global Policy Lead on Taxation, Luisa Scarcella, welcomed the inclusion of stakeholder participation in the drafting process but expressed concerns over the absence of explicit taxpayer safeguards in the final text. Additionally, the ICC emphasized the necessity for broad international coordination to ensure consistency with existing frameworks. Concerns were also raised about the ambitious timeline for negotiating the taxation of crossborder services, particularly regarding its potential economic impact on developing countries. ICC’s Commitment to Business-Friendly Tax Policies The ICC remains committed to working closely with policymakers to ensure balanced and effective tax policies that support global trade and investment. By actively participating in UN negotiations and advocating for business-friendly tax frameworks, ICC is shaping a more predictable and fair international tax system. Stay informed about ICC’s tax initiatives and how we’re working to protect business interests worldwide. Timeline 2025 The following is a timeline of the ICC’s Global Tax Commission for the remainder of 2025, with all dates subject to final confirmation and potential adjustments.

< Back < Previous | Next > Model Contracts and Clauses ICC Anti-corruption Clause 4 Jul 2025 The ICC Anti-corruption Clause is a voluntary contractual provision that companies can include in their commercial agreements, whereby they undertake to comply with the 2023 ICC Rules on Combating Corruption or commit to put in place and maintain an anti-corruption compliance programme. Download The ICC Anti-corruption Clause is a voluntary contractual provision that companies can include in their commercial agreements, whereby they undertake to comply with the 2023 ICC Rules on Combatting Corruption or commit to put in place and maintain an anti-corruption compliance programme. The purpose is to provide an underlying legal foundation to mitigate corruption risks during the negotiation and contractual period. The inclusion of the Clause thereby reassures both parties about the integrity of their counterpart, and includes clear and actionable avenues for redress where there are allegations of breach. By establishing clearly defined anti-corruption obligations, the Clause creates a transparent framework for ethical business conduct. This reduces compliance uncertainty, enhances mutual accountability, builds trust on a foundation of shared ethical standards, and ultimately strengthens commercial partnerships. Widely used by businesses and even by some governments, the 2025 Clause has been updated to align with current business practices and the 2023 ICC Anti-corruption Rules. ICC Anti-Corruption Clause – 2025 edition: What’s new? The 2025 Anti-corruption Clause ensures alignment with the 2023 ICC Rules on Combating Corruption, which serve as both a self-regulation tool for business and a roadmap for governments in their efforts to fight corruption. The new edition includes a recognition that parties may opt to use this ICC Anti-corruption Clause, or the spirit of this ICC Clause, as part of a broader compliance or business integrity clause, and a reaffirmed commitment on the prevention of conflicts of interest. The Clause is an essential component of ICC’s renown lead in setting standards of business integrity worldwide, and forms part of ICC’s larger body of work on Model Contracts and Clauses – a suite of practical legal tools drafted by legal experts. These contracts and clauses enable business to avoid the significant time and expense of drafting bespoke contracts, offering instead proven, reliable templates that ensure equitable terms for all parties. How to include the ICC Anti-corruption Clause in a contract The ICC Anti-corruption Clause can be included via one of three options: Option 1 : Incorporation by reference of the ICC Rules on Combating Corruption 2023 Option 2 : Incorporation of the full text of the ICC Rules on Combating Corruption 2023, or Option 3 : An undertaking to implement a corporate compliance programme, as described in Article 11 of the 2023 ICC Rules on Combating Corruption. A party who fails to comply with the incorporated anti-corruption provisions will be given a chance to remedy the non-compliance and to raise the fact that it has put in place adequate anti-corruption preventive measures as a defense.   If the non-complying party doesn’t or can’t take remedial action and doesn’t raise a defence, the other party can choose to suspend or terminate the contract.  

< Back Marc Krestin Fieldfisher Arbitrator Biography Marc Krestin is a partner in the Dispute Resolution practice of the European law firm Fieldfisher, based in Amsterdam. Marc has over 16 years' experience as an international disputes lawyer. He acts as counsel in international commercial and investor-state arbitrations as well as in corporate and commercial litigations before Dutch courts, with a focus on energy, construction, infrastructure, technology and post-M&A disputes. Having lived, studied and/or worked in Germany, Switzerland, Austria, France and the Netherlands, Marc is a true European citizen and at ease in different cultural settings and legal systems. He has German citizenship, is qualified as a lawyer (advocaat) in the Netherlands and is fluent and conducts arbitrations in Dutch, German, English and French. Marc has particular experience with complex cross-border disputes in the following sectors: oil & gas (pipelines, refinieries, LNG plants, coal-fired power plants, long-term gas price agreements, production sharing agreements, concessions, decommissioning), renewables (solar, wind, hydrogen), construction, mining, IT/technology, telecom, banking & finance, real estate, retail & consumer products, automotive, aviation, transport & shipping. His geographical aeras of focus include the EU, US, UK, Switzerland, former CIS countries, Northern and Francophone Africa, South Africa, the Middle East and the APAC region and he has conducted arbitrations under the laws of the Netherlands, France, Belgium, Germany, Switzerland, England & Wales, New York, Morocco, Ghana, Côte d'Ivoire, Hong Kong, Singapore, Georgia, Russia and Ukraine. He also represents both claimants and defendants in class action proceedings in relation to environmental damage, consumer protection and competition law infringements. Furthermore, Marc sits as an arbitrator and regularly advises on matters of ESG, public international law, technology/AI and third-party funding. Marc has published extensively in the field of international arbitration, has held numerous speaking engagements, and has guest-lectured on topics of international arbitration and advocacy at universities in Amsterdam and Paris. He has been recommended in Who's Who Legal Arbitration: Future Leaders since 2019 and features in the Legal 500 Arbitration Powerlist: Benelux 2024 . He sits on the Executive Committee of the Rising Arbitrators Initiative (RAI) and is a member of the Dutch Arbitration Association (DAA), the International Arbitration Commission of the Association Internationale des Jeunes Avocats (AIJA) and the ESG Arbitration Subcommittee of the International Bar Association (IBA). Marc is admitted to the Dutch Bar (Amsterdam) since 2008 and registered with the Paris Bar (under Directive 98/5/EC) since 2019. He holds master's degrees in international law and economics from the Erasmus University of Rotterdam and an LLM in Comparative and International Dispute Resolution from Queen Mary University of London. Contact Details Netherlands +31611730195 marc.krestin@fieldfisher.com Additional Links Link About ICC Netherlands We ensure that Dutch business interests are heard and represented in international policymaking. We deliver tools and standards that simplify cross-border business like model contracts or Incoterms®. We support fair and efficient dispute resolution . Become a member Upcoming events Learn more Check our latest news! News Languages Spoken German, English, Dutch, French Specialisation Construction, Corporate Law / M&A, Finance and Banking, Information and Communication Technologies, Investment / Public International Law, Pharmaceutical, Sales, Sports, Transport, Environment, Agriculture, Distribution, Joint Ventures, Maritime, Real Estate, Renewable Energy, ESG, Retail, Technology/AI, Employment, Energy and Natural Resources Bar Admission(s) Credentials CV

< Back < Previous | Next > The WTO’s hidden value 26 Nov 2025 Every time a product clears a border, every time a services firm invests abroad, or every time an innovator protects a patent overseas, they are relying on WTO rules, committees and monitoring systems designed to reduce risk and increase predictability. The WTO’s Hidden Infrastructure: Why Businesses Rely on It More Than They Realise In a year where geopolitical tensions, supply-chain vulnerabilities and regulatory divergence dominate headlines, one institution continues to underpin the stability of global trade, often without being noticed. The World Trade Organization may be criticised for slow negotiations or headline-grabbing disputes, but as the latest ICC paper reminds us, its greatest value lies in the quiet, technical machinery that keeps the global economy running every single day. For most companies, whether multinational corporations or ambitious SMEs, the WTO is not a theoretical institution in Geneva but the invisible operating system of global trade. Every time a product clears a border, every time a services firm invests abroad, or every time an innovator protects a patent overseas, they are relying on WTO rules, committees and monitoring systems designed to reduce risk and increase predictability. Beyond Tariffs: The Unseen Framework That Holds Global Trade Together The WTO is best known for negotiating tariff reductions, but tariffs are only a small part of its impact. Its real power lies in creating a single, coherent legal framework that connects thousands of national regulations, standards and procedures. This transforms what could be a chaotic, politically driven landscape into a predictable environment where businesses can plan, invest and scale. Before the WTO, tariffs could be raised overnight, technical standards could change without warning, and customs policies varied arbitrarily from country to country. Today, bound tariff rates, transparency rules and internationally aligned procedures give exporters stability that no bilateral deal can replicate . This rules-based system is not static. It is constantly updated through WTO Councils and Committees, which quietly issue decisions that update tariff schedules, promote good regulatory practices and ensure alignment with global technical standards. Without this daily work, trade would slow, costs would rise and supply chains would fragment. The Daily Benefits: What the WTO Does for Business The paper highlights how WTO agreements translate into very concrete business advantages across the entire trade journey, from pre-shipment compliance to in-market protection. 1. Cutting Through Regulatory Complexity Technical regulations, testing requirements and food safety rules are among the biggest barriers to trade today. The WTO’s Agreements on Technical Barriers to Trade (TBT) and Sanitary and Phytosanitary Measures (SPS) require governments to notify proposed regulations early, giving businesses time to adapt and comment. Tools like the ePing alert system can be the difference between a shipment clearing customs or being rejected, a lifeline especially for SMEs. 2. Making Borders Faster and Cheaper The Trade Facilitation Agreement (TFA) has modernised customs procedures across the world. Publishing rules, enabling advance rulings, and using risk-based controls have reduced trade costs by up to 5% globally , a significant boost to competitiveness. For time-sensitive goods from vaccines to agri-food products, this can mean fewer delays, less spoilage and greater resilience. 3. Securing Services and Digital Trade Two-thirds of global GDP comes from services, yet services trade is shaped by opaque licensing rules, residency requirements and sector-specific restrictions. The WTO’s General Agreement on Trade in Services (GATS) brings transparency and predictability, giving firms confidence that market access rules will not change arbitrarily. The moratorium on customs duties for electronic transmissions reinforces this stability in the digital economy. 4. Protecting Innovation Worldwide With intangible assets now representing most of a company’s value, IP protection is essential. The TRIPS Agreement ensures that patents, trademarks and copyrights receive minimum standards of protection in all WTO Members, enabling global commercialisation and cross-border collaboration. 5. Opening Public Procurement Markets The WTO’s plurilateral Government Procurement Agreement (GPA) grants companies access to public contracts worth an estimated US$1.7 trillion annually, under fair and non-discriminatory conditions. This creates significant opportunities for specialists and SMEs seeking to grow internationally. 6. Turning Transparency Into Market Intelligence WTO tools such as the Tariff and Trade Data Platform, the Rules of Origin Facilitator, and the Trade Concerns Database transform raw government notifications into actionable insights. They allow businesses, especially those without large compliance departments, to understand market conditions, avoid regulatory risks and identify growth opportunities. What Is at Stake? The ICC paper underscores that the stability provided by the WTO is not diplomatic symbolism; it is an economic necessity. According to Oxford Economics modelling for ICC, the collapse of the multilateral trading system would cause developing countries’ non-fuel goods trade to drop by 33% and lead to a permanent GDP loss of 5%. In concrete terms, this would mean: more fragmented regulations longer delays and higher compliance costs destabilised global supply chains reduced incentives for innovation fewer opportunities for SMEs to internationalise In a world where resilience is a strategic priority, weakening the WTO would have direct and damaging consequences for competitiveness. Reform With a Clear Purpose Reforming and updating the WTO remains essential, particularly to address digital trade, sustainability and new technological frontiers. The paper makes clear that some challenges, such as subsidies or cross-border data governance, cannot be solved through bilateral deals alone. Multilateral disciplines remain the only way to create fair, predictable and future-proof global rules. But as members pursue reform, they must not lose sight of the system’s hidden value: t he quiet, technical infrastructure that keeps global trade stable. Preserving and strengthening this foundation is essential for businesses, governments and the global economy. 2025-ICC-The-WTOs-Hidden-Value-1 .pdf Download PDF • 432KB

< Back < Previous | Next > ICC Report: Unlocking Private Sector Investment for Climate Adaptation 28 Aug 2025 Climate change is already costing the global economy trillions, yet adaptation finance continues to lag far behind what is needed. A new ICC–Oxera report highlights how the private sector can play a decisive role in closing this gap. With public funds alone insufficient, innovative instruments, better risk data, and enabling regulation are essential to unlock private investment at scale. As the official voice of business in the UN climate process, ICC will bring these recommendations to COP30 in Belém to advocate for a stronger role of business in building global climate resilience. ICC Report: Unlocking Private Sector Investment for Climate Adaptation Climate change is no longer a distant risk — it is already reshaping economies and societies worldwide. Extreme weather events caused over US$2 trillion in economic losses between 2014 and 2023 , directly affecting 1.6 billion people. Damages are escalating rapidly, with US$451 billion in losses recorded in just 2022–2023 . Despite this urgent need, adaptation finance lags far behind mitigation . In 2022, global mitigation finance reached US$1.3 trillion, while adaptation attracted only US$76 billion — and just 8% came from the private sector . Developing countries are particularly vulnerable: small island and least developed states paid over twice as much in debt service (US$59bn) as they received in climate finance (US$28bn). To address this gap, the International Chamber of Commerce (ICC) commissioned Oxera to analyse how the private sector’s role in climate adaptation can be scaled up. The report highlights that public finance alone cannot meet the scale of the challenge . Unlocking private capital is essential to drive the innovation and investment needed to build resilience at speed and scale. Key recommendations The report sets out three strategic priorities for governments, regulators and financial institutions: Strengthen climate risk information and transparency Improve access to high-quality, open climate risk data. Mandate proportionate disclosure of physical climate risks across operations and supply chains. Standardise adaptation metrics and taxonomies to make resilience measurable and investable. Establish enabling institutions and regulatory incentives Embed business participation in National Adaptation Plans. Create sandboxes and procurement frameworks that reward climate resilience. Adjust capital requirements to reflect the benefits of resilient investments. Scale adaptation finance with innovative instruments Expand blended finance, resilience bonds and insurance-linked products. Develop adaptation bonds tied to avoided losses or service delivery outcomes. Leverage insurers’ data and expertise to guide investment and maintain coverage in high-risk areas. ICC at COP30 As the official voice of business in the UN climate negotiations (UNFCCC) , ICC will use this report to advocate for a stronger role of the private sector in climate adaptation at COP30 in Belém, Brazil . With adaptation expected to be a central theme of the talks, ICC’s recommendations aim to shape an actionable policy agenda that enables businesses to be true partners in building global climate resilience. Read the full report 2025-ICC-Oxera-The-role-of-the-private-sector-in-climate-adaptation-Full-report .pdf Download PDF • 3.33MB Read the summary 2025-ICC-Oxera-The-role-of-the-private-sector-in-climate-adaptation-Report-summary .pdf Download PDF • 163KB

< Back Willem van Baren Independent Arbitrator Arbitrator Biography Willem van Baren practices since 2016 as independent international arbitrator. He has been actively involved in more than 100 arbitration cases as party-appointed arbitrator, chairman, sole arbitrator, emergency arbitrator and expert under the major arbitral institutions and arbitration rules (CEPANI, ICC, LCIA, NAI, SIAC, UNUM, WIPO) and governed by various procedural and substantive laws. Until his retirement, he was a partner in Allen & Overy’s dispute resolution practice. In 2009, he became a CEDR accredited mediator. Willem has been involved in arbitrations concerning State-entities and private entities, often multi-party, and spanning a multitude of sectors, such as banking, corporate transactions, finance, energy, construction, infrastructure, insurance, shipbuilding, offshore, oil & gas, industrial manufacturing, pharmaceuticals, transportation (aviation, marine), solar power plants and wind parks and relating to diverse legal issues, such as investment, distributorship, joint ventures, partnerships, contract termination, post-M&A, sales of goods and shareholdings. He conducts arbitrations in English and Dutch and has working knowledge of German. Contact Details Netherlands +31 20 737 3403 willem.vanbaren@arbitration.nl Additional Links Link About ICC Netherlands We ensure that Dutch business interests are heard and represented in international policymaking. We deliver tools and standards that simplify cross-border business like model contracts or Incoterms®. We support fair and efficient dispute resolution . Become a member Upcoming events Learn more Check our latest news! News Languages Spoken Dutch, English, German Specialisation Corporate Law / M&A, Joint Ventures, Investment / Public International Law, Finance and Banking, Insurance, Pharmaceutical, Sales, Distribution, Construction, Shipbuilding, Offshore, Aviation, Energy and Natural Resources Bar Admission(s) Credentials CV

< Back < Previous | Next > From Ambition to Economic Delivery: ICC’s Call to Action Ahead of COP30 2 Nov 2025 As world leaders prepare to meet in Belém for COP30, ICC calls on governments to turn climate ambition into economic delivery. Representing over 45 million companies, ICC urges concrete action on finance, adaptation and market integrity to unlock private investment and make the transition to net zero a driver of growth and resilience. From Ambition to Economic Delivery: ICC’s Call to Action Ahead of COP30 As world leaders prepare to gather in Belém for COP30 , the message from business is clear: climate ambition must now translate into economic delivery . In an open letter to Climate Ministers, ICC Secretary General John W.H. Denton AO conveyed the views of more than 45 million companies across 170 countries , calling on governments to make COP30 the turning point where commitment becomes implementation . Business urges governments to make COP30 about delivery The global business community sees the transition to a net-zero, climate-resilient world not only as a moral imperative, but as an economic necessity . Businesses are already investing, innovating, and adapting to growing physical and transition risks. Yet progress is being held back by fragmented regulations and uncertainty around the enabling conditions needed to unlock private capital at scale. To deliver on the Paris Agreement, ICC calls on governments to anchor COP30 outcomes around three priority pillars: Investment-ready national climate action plans. Governments must co-design updated and ambitious NDCs with business, aligning climate goals with growth, energy security and industrial competitiveness. Predictable frameworks and clear market signals are essential to drive long-term investment. A Global Goal on Adaptation that mobilises private finance. Adaptation receives less than 10% of total climate finance today. ICC calls for robust metrics, risk-reporting standards, and smart incentives to make resilience investable, turning adaptation into a scalable economic opportunity. A finance implementation plan that operationalises the new collective quantified goal. The next step in the Baku-to-Belém process must be a concrete roadmap to channel funding into emerging and developing economies. That means addressing structural barriers, including reforms to prudential rules such as Basel III and more effective use of development bank balance sheets, to unlock private capital at scale. Scaling finance and integrity at the heart of ICC’s agenda ICC’s COP30 strategy sets out practical policy actions to turbocharge climate finance, strengthen carbon markets and embed adaptation into business models .Key ICC proposals include: Reforms to global financial regulations to enable greater green investment; New frameworks for Article 6 implementation and voluntary carbon markets; Development of investable adaptation pipelines supported by clear data, incentives and risk-transfer mechanisms such as resilience bonds; Recognition of trade finance as a key enabler of climate-aligned growth. At COP30, ICC will also highlight the role of small and medium-sized enterprises , presenting new data and insights on how SMEs can be empowered to take climate action. A partnership for delivery The private sector has proven its capacity to innovate, from clean energy systems to new low-carbon technologies, but cannot act alone. ICC is urging governments to work hand-in-hand with business to turn high-level ambition into real-world impact through policy coherence, transparent carbon markets and credible financing mechanisms. “COP30 can and should mark the point where climate ambition becomes economic strategy — anchored in growth, resilience and opportunity,” said ICC Secretary General John W.H. Denton AO. How businesses can engage ICC Netherlands invites all members and partners to join this call to action: Use ICC’s key messages in your own communications and bilateral engagements with government representatives in the run-up to and during COP30; Share ICC’s Open Letter and Strategy across your business networks to amplify the voice of the real economy; Highlight concrete business actions that show how Dutch companies are driving sustainable growth and climate innovation. Join the ICC Netherlands Sustainability Commission meeting – 11 December : we will discuss how Dutch businesses can engage with the COP30 outcomes and shape our ICC Netherlands sustainability agenda for 2026 and beyond. The decisions made in Belém will shape global competitiveness, capital flows and resilience for years to come. Business is ready, and willing, to partner with governments to deliver the opportunity of a lifetime . Read further ICC and UNFCCC Business Group call on climate ministers ahead of COP30 (15 October 2025) Ahead of COP30 in Belém, ICC and the UNFCCC Business Group urge governments to make climate ambition a driver of economic transformation, calling for coherent policies that unlock private investment at scale. COP30 Open Letter to Climate Ministers (29 October 2025, ICC) ICC Secretary General John W.H. Denton AO outlines the business priorities for COP30: investment-ready climate plans, a global goal on adaptation, and a finance implementation plan to deliver growth and resilience. COP30 Key ICC Messages and Strategy (October 2025, ICC) ICC’s roadmap for Belém sets out how to scale climate finance, drive private investment in adaptation, and strengthen carbon market integrity — turning the “opportunity of a lifetime” into tangible action. The opportunity to align Basel’s global banking rules with climate needs Basel III made the financial system sturdier after the 2008 crisis. But rules built to prevent a repeat of the last financial crisis now risk slowing the climate transition. Emerging markets need hundreds of billions annually for the world to meet climate targets and stay on a net-zero path. With rule clarifications, targeted adjustments and smart reforms, a unique opportunity presents itself to align financial stability with climate needs and unlock vital private capital.

< Back < Previous | Next > WTO MC14: A fragile outcome at a critical moment for global trade Laure Jacquier 1 Apr 2026 The outcome of WTO MC14 highlights growing strain on the multilateral trading system. With no agreement on key issues such as reform and digital trade, uncertainty persists. WTO MC14: A fragile outcome at a critical moment for global trade The conclusion of the WTO 14th Ministerial Conference in Yaoundé comes at a time when global trade is already under significant strain. Against a backdrop of geopolitical tension, economic fragmentation and shifting policy priorities, the expectation from business was clear: this Ministerial needed to deliver signals of stability, direction and renewed cooperation. Instead, the outcome leaves important questions unresolved. For internationally active businesses, the implications are immediate. Predictability, a cornerstone of cross-border trade and investment, remains under pressure. And while the multilateral system continues to function, the absence of concrete political agreement at MC14 reinforces a broader sense of uncertainty about its future trajectory. Why this matters now Trade policy is no longer a distant, technical domain. It is increasingly shaping day-to-day business decisions, from supply chain structuring and investment planning to digital operations and market access strategies. In this context, Ministerial Conferences play a critical role. They are moments where governments can provide clarity on rules, align on priorities and demonstrate that the multilateral system remains capable of responding to evolving economic realities. At MC14, that clarity did not fully materialise. As the International Chamber of Commerce Secretary General John W. H. Denton noted, the failure to reach a concrete political agreement is “particularly concerning at a time of real strain on the global economy.” For business, this translates into a more complex operating environment, where planning assumptions are harder to sustain and policy risks are more difficult to anticipate. Key outcomes: limited progress, growing fragmentation While MC14 did not result in a comprehensive package, several developments are worth noting, both for what they achieved and for what they signal about the direction of the system. No agreement on WTO reform Despite broad recognition that reform is necessary, Members were unable to agree on a concrete work programme. Discussions are expected to continue in Geneva ahead of the next General Council meeting, but the absence of a clear roadmap highlights the difficulty of reaching consensus among a diverse and increasingly divided membership. For business, this matters. A modernised WTO is essential to ensure that rules remain relevant, enforceable and aligned with current economic realities, including digitalisation, services trade and sustainability. E-commerce moratorium lapses One of the most consequential outcomes is the lapse of the moratorium on customs duties on electronic transmissions. For over two decades, this moratorium has supported the growth of the digital economy by ensuring that digital services and transmissions are not subject to tariffs. Its expiration introduces the possibility of new trade barriers in one of the most dynamic areas of global trade . Positions among Members diverged significantly. While some advocated for a permanent solution, others supported shorter extensions or questioned the moratorium altogether. The inability to reach agreement reflects deeper tensions between different economic models and development priorities . From a business perspective, the risk is clear: increased fragmentation in digital trade rules at a time when digital services are a key driver of growth and innovation. Plurilateral progress on e-commerce In contrast to the multilateral stalemate, a group of 66 WTO Members moved forward with the E-Commerce Agreement through interim arrangements outside the WTO framework . This is a notable development. It demonstrates that, even in a challenging environment, progress remains possible among coalitions of willing partners. At the same time, it also signals a shift toward more flexible, plurilateral approaches, raising questions about the future coherence of the global trading system. This creates both opportunities and complexity. New rules can emerge more quickly, but their application may be uneven across markets. Investment facilitation remains outside the WTO framework The Investment Facilitation for Development (IFD) Agreement, supported by over 120 Members, was not incorporated into the WTO rulebook due to continued objections from some Members. Participants have indicated that they will explore alternative pathways for implementation. While this keeps momentum alive, it also reinforces the trend toward parallel initiatives outside the multilateral framework. Other developments: incremental but insufficient Beyond these core issues, MC14 saw continued work in areas such as trade and environment, services, gender and dispute settlement alternatives. For example, additional countries joined interim arrangements designed to compensate for the non-functioning WTO Appellate Body. These initiatives reflect ongoing engagement and innovation within the system. However, they remain incremental and do not substitute for broader, systemic progress. Business engagement: strong signal, limited impact Business engagement at MC14 was both broad and coordinated. The International Chamber of Commerce, together with its global network, actively engaged with WTO Members throughout the conference. A Global Business Statement, supported by over 230 signatories representing business organisations (Including Dutch evofenedex) and chambers worldwide, called for meaningful progress on WTO reform and the e-commerce moratorium. This level of mobilisation underscores a clear message: business continues to see value in a rules-based multilateral trading system and is ready to support its modernisation. However, the outcome of MC14 also illustrates the limits of business influence in a context where political considerations and geopolitical dynamics increasingly shape trade negotiations. What comes next: a narrow window for action While MC14 did not deliver the outcomes many had hoped for, it does not mark the end of the process. Negotiations will continue in Geneva, with discussions on WTO reform and the e-commerce moratorium expected to resume ahead of the next General Council meeting. The coming months will be critical in determining whether Members can translate political recognition of the need for reform into concrete action. At the same time, plurilateral initiatives, such as the E-Commerce Agreement, are likely to play an increasingly important role. They may offer a pathway to progress, but also require careful management to ensure that the system remains as coherent and inclusive as possible. A system at a crossroads The outcome of MC14 ultimately raises a fundamental question: not whether reform of the multilateral trading system is necessary, but who is willing to lead it. For business, the stakes are high. A predictable, rules-based system remains essential for investment, innovation and sustainable growth. Without it, fragmentation risks becoming the default, with higher costs and greater uncertainty for internationally operating companies. At the same time, the continued engagement of a large group of Members, and the willingness to explore new approaches, suggests that the system is not at a standstill. The challenge now is to move from recognition to implementation. For ICC Netherlands and its members, this means continuing to ensure that business realities are clearly reflected in global trade discussions, and that the voice of internationally active companies remains part of shaping the next phase of the system.

< Back < Previous | Next > ICC Netherlands roept Tweede Kamer op: versnel adoptie van digitale handelsdocumenten (MLETR) 1 Sept 2025 ICC Nederland heeft samen met een brede coalitie van bedrijven, banken en brancheorganisaties een whitepaper aangeboden aan de Tweede Kamer om snelle invoering van de UNCITRAL Model Law on Electronic Transferable Records (MLETR) te bevorderen – een stap die kosten bespaart, doorlooptijden verkort en de concurrentiepositie van Nederland versterkt. Op 1 September heeft ICC Netherlands, samen met een brede coalitie van bedrijven, banken en brancheorganisaties, een whitepaper aangeboden aan de Tweede Kamer over de adoptie van de UNCITRAL Model Law on Electronic Transferable Records (MLETR) . Wat op papier een technische wetswijziging lijkt, heeft in de praktijk enorme impact: het kan honderden miljoenen euro’s aan onnodige kosten besparen voor het Nederlandse bedrijfsleven , doorlooptijden verkorten met 6–10 dagen per exportproject , bureaucratie verminderen en onze concurrentiepositie als handelsland versterken . Handel als levensader van Nederland Internationale handel is cruciaal voor de Nederlandse economie: import en export samen vertegenwoordigen ruim €1,6 biljoen per jaar – bijna vier keer het BNP . Toch zijn veel cruciale documenten in de exportketen alleen rechtsgeldig op papier. Dit leidt tot vertragingen, hogere kosten en verlies aan efficiëntie. Concrete voordelen van MLETR Ons whitepaper laat zien dat digitalisering tastbare voordelen oplevert: ✅ Doorlooptijd verkort van 6–10 dagen naar <24 uur (succesvol getest door Havenbedrijf Rotterdam en Singapore in 2021). ✅ MKB-voordeel : tot 35% minder administratieve lasten. ✅ Internationale aansluiting : landen als het VK, Frankrijk, Duitsland en Singapore hebben hun wetgeving al aangepast – Nederland loopt achter. Sterker nog: het Verenigd Koninkrijk wil graag met Nederland digitale samenwerking versnellen, maar dat kan nu niet omdat 8 cruciale documenten wettelijk nog niet digitaal mogen worden verzonden . Oproep aan de politiek De oproep van ICC Netherlands en haar partners aan de Tweede Kamer is helder: Maak snel werk van de goedkeuring van wetgeving voor het elektronisch cognossement . Start direct het traject voor de overige 7 MLETR-documenten . Met dit whitepaper onderstreept ICC Netherlands, samen met haar partners, dat de digitale toekomst van onze handel nú begint. De Tweede Kamer kan dit in wezen met één wetswijziging regelen – en het bedrijfsleven staat klaar om te helpen. 👉 Lees hier het volledige whitepaper: Over dit initiatief Het whitepaper is opgesteld door vertegenwoordigers van ICC Netherlands, ICISA, ING Bank, Port of Rotterdam en andere betrokken experts , met steun van een brede coalitie van bedrijven, banken en brancheorganisaties. De adoptie van de UNCITRAL‘Model Law on Electronic Transferable Records’ in NL (6) .pdf Download PDF • 3.28MB

< Back < Previous | Next > Will the UN Tax Framework reinforce certainty or create new fragmentations? 25 Feb 2026 UN negotiations on a new tax framework are entering a decisive drafting phase, with potential implications for treaty networks, service taxation and dispute resolution. These developments could have a substantial impact on internationally active Dutch businesses. Will the UN Tax Framework reinforce certainty or create new fragmentations? Negotiations at the United Nations on a Framework Convention on International Tax Cooperation are moving into a technically decisive phase. The Intergovernmental Negotiating Committee (INC), established in early 2025, is drafting both a Framework Convention and two early protocols, with the aim of submitting final texts to the UN General Assembly in 2027. While international tax reform is not new, the current discussions at UN level go beyond incremental adjustment. They revisit core principles: where taxing rights arise, how cross-border services are taxed, and how disputes are prevented and resolved . For an economy such as the Netherlands, highly integrated into global value chains and deeply dependent on cross-border investment, these discussions are not theoretical. They concern legal certainty, cost structures and risk management for internationally active businesses. Three Areas of Direct Exposure for Business 1. Allocation of Taxing Rights (Article 5) The draft Convention addresses the “fair allocation of taxing rights.” Proposals under discussion would recognize taxing rights in jurisdictions where value is created, markets are located or revenues are generated. Some versions have also referenced the possible renegotiation of existing tax treaties. For Dutch-headquartered groups and multinational subsidiaries operating in the Netherlands, this raises several practical questions: How will new nexus concepts interact with existing permanent establishment standards? Could multiple jurisdictions assert taxing rights over the same income? Would existing bilateral treaty protections remain intact? At present, the draft does not yet contain an explicit, enforceable safeguard against double or multiple taxation. Without such clarity, overlapping claims could increase disputes and affect effective tax rates, transfer pricing models and cross-border structuring decisions. For businesses managing long-term investments, financing structures or intellectual property platforms, predictability in treaty application remains a fundamental element of risk assessment. 2. Taxation of Cross-Border Services Under the draft Protocol on cross-border services, there is growing discussion of applying gross-basis withholding taxation, potentially as a default model, with a net-basis option in certain circumstances. For service-intensive sectors, including engineering, consultancy, digital services, logistics and financial services, this has immediate operational implications: Gross taxation disregards underlying costs and margins. Relief from double taxation may not always be fully available or timely. Cash flow exposure may increase if taxes are withheld before profit realization. An independent economic study commissioned by ICC from Oxford Economics has indicated that gross-basis withholding could affect trade and investment flows, particularly where taxes are not fully creditable. For smaller firms and scale-ups operating on thin margins, the impact could be proportionally greater. 2026_ICC_The_revenue_mirage_of_taxing_cross-border_services_EN .pdf Download PDF • 201KB 3. Dispute Prevention and Resolution A second protocol addresses dispute prevention and resolution. Discussions include advance pricing agreements (APAs), joint audits and whether mandatory binding arbitration should be included as a backstop. From a business perspective, the effectiveness of dispute resolution mechanisms is not procedural detail, it directly affects: Duration of tax uncertainty Provisioning and balance sheet treatment Access to capital Investor confidence Experience shows that where arbitration exists as a credible mechanism, cases are often resolved earlier in the Mutual Agreement Procedure (MAP) process. If dispute mechanisms remain optional or weakly structured, unresolved double taxation risks may persist for years. Interaction with Existing Treaty Networks A structural question remains unresolved: how will the Framework Convention and its protocols interact with the existing network of bilateral tax treaties? This issue is expected to be addressed in a future article of the Convention, but no draft text has yet been shared. For Dutch business, clarity on this point is central. The Netherlands has one of the world’s most extensive treaty networks. If new UN standards operate alongside, or potentially override, treaty provisions, companies could face parallel nexus tests, competing interpretations and increased compliance complexity. ICC has consistently emphasized that compatibility with existing treaty frameworks and explicit mechanisms for relief from double taxation are essential for legal certainty. Beyond Policy: Operational and Governance Risks Beyond allocation and withholding debates, other elements under negotiation, including definitions of illicit financial flows and harmful tax practices, require precise drafting. Ambiguity in terminology can create divergent national interpretations, reputational exposure and administrative duplication. Alignment with established international standards reduces such risk. For multinational groups, tax governance is increasingly intertwined with ESG reporting, board oversight and stakeholder scrutiny. Legal clarity and procedural safeguards are therefore not only technical concerns; they are governance issues. How Dutch Business Is Represented ICC is the only business organization with UN Permanent Observer Status in these negotiations, representing companies across more than 170 countries. ICC Netherlands ensures that Dutch perspectives are fed into the global drafting process through: Structured input into ICC’s Global Tax Commission Contributions to submissions on all three workstreams Dialogue with Dutch authorities and international counterparts Technical drafting language matters. Many negotiations now concern wording choices that will determine how principles are interpreted in practice. The intersessional period leading up to the August 2026 session, when further draft texts are expected, is therefore a critical window for input. A Window for Technical Influence The objective of the Convention is enhanced international tax cooperation. For business, the key question is how cooperation is designed: whether it reinforces predictability or increases fragmentation. A workable outcome requires: Clear allocation principles Explicit safeguards against double taxation Administrable service taxation rules Effective dispute resolution backstops Coherence with existing treaty law The negotiation process remains open, and many Member States recognize the importance of legal certainty and administrability. For Dutch companies with cross-border exposure, engagement at this stage, through ICC tax commission and consultations, ensures that practical operational perspectives are reflected before texts are finalized. International tax architecture is being recalibrated. The technical drafting phase now underway will shape how that architecture functions in practice. Through ICC Netherlands, Dutch business has a direct channel into the global negotiations. Members who wish to contribute to this process are encouraged to engage with our Global Tax Commission as we prepare our next submissions.