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< Back < Previous | Next > Sustainability Sustainability is no longer a buzzword—it’s a business imperative 1 Jun 2025 Sustainability is everywhere – but what does it really mean for a business to be sustainable? And who gets to define it? To get some answers, we spoke to Ed Gillespie, whose credentials involve nearly three decades at the forefront of sustainability. Ed Gillespie How would you define sustainability in business? It’s about what can you continue to do in perpetuity. A sustainable way of doing business doesn’t fundamentally undermine the ecological life support systems on which we depend, and enhances and promotes social cohesion, but also flourishes commercially and economically. In colloquial terms, it’s about treating the world as if we intend to stay. Can it be commercially beneficial for businesses to operate sustainably? There is not always a business case for sustainability because of the way our system currently runs. For example, because we often fail to internalise external costs in our decision making, sustainability can seem more expensive because you’ve got to change the way you do business. This is not always commercially beneficial. That said, the early stages of most organisations’ sustainability journeys usually do save money. That’s because they are operating more efficiently, reducing energy costs, reducing waste costs, becoming leaner and more agile. This improves the performance of an organisation, which usually has commercial benefits. That sounds positive. So why don’t more companies operate sustainably? After picking all the low hanging fruit and gaining all the easy wins, organisations then tend to bump up against ‘the big trap of sustainability’. They can’t squeeze any more efficiency out of their operations. That’s when they have to think about doing different things, not just doing the same things better. This is when it becomes challenging. With this in mind, sustainability is the stepping stone between, for example, the efficiency savings of cutting waste and carbon emissions and the end goal of regenerative business. This is when we start to develop business models which actually restore and replenish ecological systems, build societal resilience, and also perform commercially. What happens to investor confidence after a company has gained all the ‘easy wins’ and things start to get more difficult? Investor confidence has been a massive challenge for the sustainable business world. This is because organisations are trying to make decisions on longer term timescales, but some investors base their decisions on quarterly results. This creates tension between short term and longer term thinking. Who has the power in the ‘company-investor’ relationship? Investors have more power than the company; they can have a massive influence on how far and how fast a company is prepared to go. And I think that’s a problem. Even the most enlightened company can be hogtied by the conservatism of their investor base. How do sustainable operations affect brand image and customer loyalty? In terms of the brand image, the vast majority of people want to do the right thing. Therefore, if an organisation can position itself as an effective, honest and authentic sustainable brand, there is loads of evidence that shows it helps attract the right type of employee. It does the same thing with customers: when people start to buy an ethical product or service, they feel a symbolic self-completion. It becomes part of their identity. When organisations get it right, it can be brilliant in terms of consolidating customer loyalty and helping to build your organisation. Once again, that sounds positive. But is there anything we need to watch out for? There can be risks here. This is why some companies engage in greenwashing: to make themselves look better than they actually are by making overambitious claims about their sustainability efforts. They do it because they know customers want it. How can companies make the strategic shift to operate more sustainably? Sometimes it’s easier to start a new company with ethical and sustainable principles baked into the organisation than it is to try and turn around a ship that’s already at sea. Looking at Dutch companies, Tony's Chocolonely is a good example, started by a person who wanted to tackle modern slavery in the cocoa supply chain. Fairphone is the same, addressing the issues of consumer and electronics waste, and the lack of a circular economy. These are very smart businesses. And, from the healthcare sector, I need to mention Buurtzorg, which represents a complete re-think of community-based nursing care. This model is now used in more than 20 countries around the world. But starting a new company isn’t an option for everyone. What happens then? There are some high profile examples of businesses that have achieved the full transition and transformation. Danish Oil and Natural Gas – DONG Energy – for instance, rebranded itself ORSTOM and pivoted from being about 90 per cent fossil fuel based to around 90 per cent renewables. This was due to the vision and long term plan of the CEO and the board, and taking their investors with them. If you can do a 180 degree turn in a sector as difficult as that, I think you can do it anywhere. We’ve talked about short-term gains and long-term strategies. Are there any medium-term issues that companies need to consider? Organisations need to understand how emerging legislation and regulations are going to change the way they work. In the energy space, that might impact the carbon emissions and responsibilities of your business. So the legislation might not be there yet, but that doesn’t mean it’s not just over the horizon. So I think every organisation has to be cognisant of those potentially emergent risks which could be existential if they’re not addressed. How is responsible leadership connected to sustainable business operations? In other words, how much can one CEO accomplish? Activist CEOs get taken out all the time. So they have got to take the board, the investors, the team and the customers with them. They have to have the ingenuity and creativity to take people into that new space; responsible leadership is a team sport. We talk about this at the Forward Institute in terms of three elements: context, character and company. The context is the rapidly changing landscape. The character is what you stand for, the values you hold as a leader, the purpose that drives you. The company is actually the critical part, because most people at senior levels of organisations are quite isolationist. They tend to only spend time with people within their own organisation at a similar peer level, or perhaps within their sector. So I think a diversity of perspectives, both intergenerational and people beyond your own organisation, are absolutely essential for delivering any meaningful change. Join the upcoming Sustainability committee meeting on 30 June | Amsterdam Join ESG Making it happen, Financing the change 1st July | Den Haag

< Back < Previous | Next > Turning Ambition into Action: ICC and Sage Release 2025 SME Climate Finance Stocktake 27 Oct 2025 A new ICC–Sage report reveals that while SMEs are leading on sustainability ambition, access to green finance remains critically low. The study calls for digital solutions, simpler reporting, and smarter policy to unlock the trillions needed for small businesses to drive the global net-zero transition. Turning Ambition into Action: ICC and Sage Release 2025 SME Climate Finance Stocktake As the world prepares for COP30 in Belém , a new global report by the International Chamber of Commerce (ICC) and Sage delivers a clear message: small and medium-sized enterprises (SMEs) are more ambitious than ever on sustainability, but access to finance is still lagging far behind. The 2025 SME Climate Finance Stocktake , the fifth in this global series, tracks progress from 2021 to 2025 and exposes a widening gap between SME ambition and the availability of green finance . While 70% of SMEs now say sustainability is central to their business, fewer than 3% have accessed a green finance product. Digital and AI: The missing link The study identifies a key factor separating leaders from laggards: digital capability . SMEs that use digital accounting, e-invoicing, or AI-powered carbon tracking are four times more likely to access green finance than their peers. Yet for most small firms, fragmented and complex reporting requirements continue to block progress, leaving billions in potential investment untapped. As ICC Secretary General John W.H. Denton AO and Sage CEO Steve Hare note in their foreword, technology is not just a productivity tool but a gateway to green finance . Automating reporting, standardising data, and integrating trusted digital systems are essential to scaling sustainability for SMEs. Policy alignment and practical action The report calls for governments, financial institutions, and technology firms to work together to make sustainability reporting simpler, faster, and more affordable. It outlines five urgent actions to bridge the gap between ambition and finance, including: Developing consistent, streamlined SME reporting standards aligned with the new VSME framework and ISSB baseline ; Expanding sustainability-linked loans, transition finance, and blended finance mechanisms; Incentivising SME reporting and investment through fiscal support and digital tools; Leveraging AI and structured data to make sustainability reporting “report once, use many times”; Standardising data requests across banks and buyers to unlock scale and trust. From ambition to economic opportunity link With SMEs representing over 90% of global businesses and around 40% of emissions , their success is essential to the world’s net-zero transition. Enabling them to access climate finance is not just good policy, it’s an investment in inclusive, resilient economic growth. ICC and Sage will take these findings to COP30 , advocating for practical, collaborative solutions to empower SMEs as the driving force of a just and effective transition. Read further Full report: SME Climate Finance Stocktake 2021–2025 – Turning Ambition into Action (ICC & Sage, 2025) 🌱 ICC COP30 Climate Action page – Learn how ICC is mobilising business for climate ambition and adaptation finance.

< Back < Previous | Next > Governance Guidance on Responsible Business in Challenging Contexts 25 Jul 2024 ICC has issued guidance to support businesses faced with challenging situations that cause stay-or-leave dilemmas, requiring crisis management and due diligence to identify, prevent and mitigate the impacts of company decisions on human rights, society and the conflict.  Why a guide on responsible business conduct? In situations of conflict, such as an armed conflict, a gross human rights violation, the imposition of trade sanctions, or a governance crisis, such as a coup d’état, businesses are expected to understand their role and the risks of business involvement in the conflict to respect international humanitarian law. When a crisis evolves, companies are under pressure from stakeholders to take prompt action, including deciding whether to remain in or exit the market, while sumultaneaously assessing the impacts on people, communities and society more broadly. These expectations can be daunting for companies, in particular, when they do not have the prerequisites or a developed strategy to act responsibly in these contexts. How does the guide on responsible business conduct support executives? By implementing this guidance and establishing an adapted tactical planning programme for high-risk countries of operation, a company can set a solid foundation for a crisis response. Companies can support their remain-or-exit resolutions with sound evidence-based due diligence, through engagement with stakeholders, with due consideration of the company’s responsibilities, and by applying creative leverage. Which steps can companies take to ensure responsible business conduct in challenging contexts? Ensure the safety of its workforce as a first priority Avoid rushing into a decision under pressure of circumstance or scrutiny Respect the human rights of affected stakeholders, including employees and workers in the supply chain and consumers and impacted communities Use their leverage to mitigate adverse human rights impacts Use collaborative platforms for shared assessments and responses to crises Guidance on Responsible Business in Challenging Contexts Download

< Back < Previous | Next > Global Response ICC warns trade uncertainty is undermining global business confidence 2 Jun 2025 Speaking live in an interview on Bloomberg’s Balance of Power show with hosts Kailey Leinz and Joe Mathieu, ICC Secretary General John W.H. Denton AO discussed current trade policy tensions and what it means for the international business community. Mr Denton said uncertainty surrounding US tariffs and trade policy is acting as a “tax” on international businesses. “What we’re seeing on a global basis is heightened levels of uncertainty,” He said, adding that the lack of clear direction on trade policy is shaking business confidence and disrupting global trade planning. Citing a recent Pulse survey of ICC’s global business network to assess the impact of newly announced US tariff measures, Mr Denton highlighted the growing challenges for small businesses. Conducted across 68 countries the survey shows that 77% of firms report direct or knock-on risks from the tariffs, and 48% say the measures have already impacted their supply chains or market strategy. “What that tells you is that small businesses are really feeling this as well, and they do not have the resources that large businesses do. It’s just problematic, and even for large business this is very complicated,” he said Mr Denton called for continued international cooperation citing ICC’s long-standing support for a multilateral rules-based trading system. “The reason we’ve been able to see a decline in poverty globally is because we actually have rules-based trading systems operating,” he said Watch the interview here .

< Back < Previous | Next > Integrity & Culture Speaking up is Golden: The Importance of Integrity for a Safe Reporting Culture in Organizations Kristien Verbraeken, Senior Integrity Advisor, Dutch Whistleblowers Authority 8 May 2025 Organisations are often well-insured against rare events like fires but underestimate the frequent and damaging risks of integrity violations such as fraud or misconduct; investing in a strong integrity culture and internal reporting procedures is essential for early detection and reduced harm. 1. How Well Is Your Organisation Protected Against Risks? Does your organisation have fire insurance? It probably does; sometimes it is even mandatory to insure yourself against certain risks. Fortunately, fires do not occur too often in organisations, and there is a willingness to take safety measures to prevent fires or respond quickly to them. But what does your organisation do to prevent integrity risks such as fraud, theft, data leaks or inappropriate behaviour? Integrity issues occur much more frequently than fires, yet not all organisations actively work on promoting integrity or creating a safe reporting environment to prevent and properly address such risks when they occur. That is why it is very valuable for organisations to invest in integrity and an efficient reporting procedure. 2. The Cost of Integrity Violations Integrity violations can cause a lot of damage to organisations. The ACFE (Association of Certified Fraud Examiners) publishes an annual Report to the Nations on the average damage organisations suffer due to fraud. If the organisation has an internal reporting system, the financial damage can amount to $100,000. Without a proper reporting system, the average damage can easily double. 43% of fraud cases are discovered through a report or tip-off. Most tips or reports come from employees (52%), 21% from customers, and 11% from suppliers. Figure 1, from Report to the Nations 2024, ACFE, p. 24 It is primarily the employees themselves who are the first to notice when something is wrong within the organisation. They report this via a formal reporting channel, such as a hotline (53%), or to someone within the organisation, most often to their direct supervisor (29%), followed by the director or board members (16%), and thirdly to internal audit (14%). Some whistleblowers report through multiple channels. These findings from the ACFE show us that it is very important for organisations that employees can report internally. The sooner incidents are noticed and reported, the sooner they can be addressed and the less damage the organisation will suffer. However, simply having an internal reporting channel and procedure is not enough. More is needed to protect your organisation against integrity violations. 3. Investing in Integrity Pays Off To support employees to report incidents or raise concerns, your organisation must ensure that there are as few barriers as possible and that employees are encouraged to speak up. This starts with building a positive integrity culture. Tony Simons, in his Research on Ethical Management: The High Cost of Low Trust ( 2002), described the positive effects of employees’ trust in the integrity of their managers and, conversely, how damaging it is when that trust is lacking. Ethical leadership leads to more engaged employees, who take fewer sick days, perform better, and speak more positively about their employer. This, in turn, results in higher customer satisfaction and greater profitability. Research by Karin Lasthuizen ( Leading to Integrity: Empirical Research into the Effects of Leadership on Ethics and Integrity , 2008) and Leonie Heres ( Tonen van de Top , 2016) confirms the significant impact of ethical leadership. In the private sector, for example, integrity contributes to the continuity of processes, strengthens trust between business sectors, reduces administrative burdens and enhances corporate reputation. In the public sector , the importance of integrity is often framed in terms of public trust; it contributes to economic growth, legitimacy, social stability, and the quality of public services. In both sectors, an integrity-driven organisational culture boosts employee motivation and engagement. Employees in organisations with a strong integrity culture experience less stress, anxiety, uncertainty, and emotional exhaustion. Moreover, integrity-driven organisations are more attractive to job seekers. Research by the Erasmus Happiness Economics Research Organisation even showed that a government that prioritises integrity and anti-corruption contributes to the well-being of its citizens and, of course, of its own employees. It is therefore fitting that building a culture of integrity and integrity management is receiving increasing attention. However, integrity within organisations does not arise automatically. It requires an integrated and coordinated approach. 4. Integrity Management: A Matter of Culture and Structure Effective integrity management consists of various measures. These contribute to both a culture of integrity and the implementation of appropriate structural safeguards. It is important that these measures reinforce one another and align with the organisation’s culture. An integrity-driven culture reflects the moral values and norms desired by the organisation (and society). These values and norms are expressed through group patterns, collective behaviour, employee attitudes, and shared beliefs. Examples of cultural measures include: values workshops, onboarding and mentoring programs, dilemma training, internal communication, employee satisfaction surveys, and fostering a culture of giving and receiving feedback. To support these, the Dutch Whistleblowers Authority offers various practical tools such as the guidelines: Tips and insights for integrity communication , and Integrity in practice - Towards an ethical culture . Not only does an organisation’s culture influence employee behaviour, organisational structure also plays a key role. Structural measures include, for example, the introduction of procedures and protocols that define how employees should act in certain situations. Just like cultural measures, structural measures guide people’s behaviour. Structural measures may include: laws, codes, and (house) rules; performance standards and reward systems; procedures and protocols; reporting and investigation procedures; physical and digital access rights; allocation of authority; monitoring and enforcement mechanisms. To strengthen structural measures, the Dutch Whistleblowers Authority also provides practical advice in brochures such as The Reporting Procedure and Internal Investigation . In practice, there is a constant interaction between structure (measures) and culture (measures). The structure defines what employees may and may not do in certain situations (according to agreed procedures); the culture ensures that employees actually adhere to these expectations. To help organisations build integrated and coordinated integrity management, the Dutch Whistleblowers Authority developed the Integrity Infrastructure Model (see Figure 2), which consists of seven crucial and interconnected elements. Figure 2: Integrity Infrastructure by the Dutch Whistleblowers Authority The Integrity Infrastructure is also used as a guiding framework for the Integrity Compass ( IntegriteitsWijzer ). This is a free online tool that organisations can use to assess their integrity management and identify the strengths and weaknesses of their approach. After answering 35 questions – covering the seven elements of the Integrity Infrastructure – the organisation receives a customised report with recommendations for further strengthening its integrity management. 5. Successful Reporting The Whistleblowers Protection Act requires organisations with over 50 employees to have an internal reporting procedure. However, simply having a procedure does not guarantee its effective operation. Several conditions contribute to its success. Research by Utrecht University, in collaboration with the Dutch Whistleblowers Authority , provides insight into how interpersonal contacts between those involved play a key role in the successful handling of internal reporting processes. Specifically, organisations must ensure: Social and psychological safety, so that whistleblowers feel safe enough to come forward; A careful and swift procedure, where the involved actors take decisive and visible action; A reporting process that aligns with both written and unwritten agreements, and of course complies with legal requirements; Expert and objective investigators who are also well-intentioned and empathetic, so that the reporter feels seen, heard, and supported; Investment in the knowledge, skills, competencies, and attitudes of the actors involved in the reporting process, such as managers, confidants, investigators, and other integrity actors; A personal approach combined with continuous and timely contact with everyone involved, so they see that active steps are taken and the report is taken seriously; Openness and transparency to ensure it is clear to everyone what information can and cannot be shared and why; Ongoing, up-to-date information about the steps in the process for all involved, so they understand why specific steps are taken and know what the next steps are; Systematic evaluation of reports and reporting processes so that lessons can be learned and the reporting process is continuously improved. 6. In a Nutshell Whistleblowers are crucial for organisations to detect integrity issues and ensure they are addressed promptly. According to ACFE data, employees prefer to report internally. To make this possible, not only is an internal reporting system necessary, but also a positive integrity culture where whistleblowers feel confident that their reports will be handled safely and effectively. At the core lies an integrated and coordinated integrity policy. There are conditions for successful reporting. On one hand, there is a professional, proper, swift, and visible approach that follows established procedures and agreements. On the other hand, there is great attention to transparency and interpersonal contacts between those involved. This strengthens trust that the organisation will handle the report quickly and sincerely. The Dutch Whistleblowers Authority is happy to provide organisations with practical support through various tools and information available on its website .

< Back < Previous | Next > Trade and Global Economy Project Phoenix: A Bold Business-Led Response to Trade System Fragmentation 30 Jun 2025 At the National Committee (NC) Strategic Session held during We are ICC Week 2025, ICC unveiled its most ambitious initiative in recent years: Project Phoenix. Introduced by ICC Secretary General John W.H. Denton following a high-level panel with Shinta Kamdani, Arancha González, and Andrew Wilson, the launch framed ICC’s response to deepening geopolitical and economic uncertainty. Project Phoenix is more than a campaign—it's a whole-of-organization effort to address rising trade tensions, stabilize global commerce, and co-create the future of a rules-based international trading system with business at the centre. Why Project Phoenix? Global trade is under visible strain. Escalating protectionism, fragmented regulatory environments, and weakened multilateral institutions have left businesses navigating an unpredictable and costly trade landscape. Project Phoenix was designed to respond to this challenge—with business, not just as a stakeholder, but as a driving force behind practical solutions and renewed international cooperation. Three Strategic Pillars De-escalation ICC is actively leveraging its convening power and media voice to discourage unilateral trade measures and defend core WTO principles such as Most-Favoured Nation treatment. Outreach campaigns are already underway targeting the G7, BRICS, RCEP and major regional blocs. Stabilisation ICC will mobilize its suite of practical trade tools—including Incoterms®, ATA Carnets, the Digital Standards Initiative, and the Centre of Entrepreneurship—to help businesses reduce compliance burdens, access new markets, and weather trade volatility. Revitalisation Through structured global consultations, ICC will develop a flagship Position Paper for WTO’s 14th Ministerial Conference (MC14, Yaoundé, 2026). Topics will include subsidies, currency misalignments, green industrial policy, and reform of the dispute settlement system. A Network-Led Approach Phoenix will be guided by a global Advisory Committee , comprising ten ICC Executive Board members and ten external business leaders from every region. But its success depends on the active engagement of national committees, chambers, and companies across the ICC network—helping to anchor the initiative in local realities and broaden its impact. As John Denton noted: “This is not about saving institutions—it’s about saving opportunity.” 🔍 Next Steps & How Members Can Engage ICC will roll out a suite of Phoenix-branded toolkits, talking points, and engagement guides in July 2025. In the meantime, members are invited to: Nominate experts and business leaders to contribute to Phoenix consultations on issues such as industrial subsidies, digital trade, green industrial policy, and dispute resolution reform. These insights will feed directly into ICC’s MC14 paper. Identify trade tensions or bottlenecks in their jurisdiction. ICC is collecting concrete case studies to support targeted advocacy and capacity-building. Participate to local awareness events or dialogues . Amplify ICC’s global messaging , especially in the lead-up to the G7, WTO, UNGA, and BRICS summits. Support Phoenix Advisory Group formation by proposing business figures who can champion reform and represent Dutch business in global discussions. Conclusion Project Phoenix is already in motion—now it’s time to bring it to life across the ICC network. Dutch businesses, policymakers, and institutions have a critical role to play in co-shaping a more stable, inclusive, and opportunity-rich trade future.

< Back < Previous | Next > Partners ICC NL has a new collaborative partner: Vrije Universiteit Amsterdam Tom Loonen and Jacco Wielhouwer 5 Apr 2025 ICC Netherlands has partnered with Vrije Universiteit Amsterdam to enhance stakeholder engagement and share insights on integrity, compliance, and anti-corruption. The collaboration merges academic research with ICC’s global business network to drive practical, evidence-based solutions. Tom Loonen and Jacco Wielhouwer We are pleased to announce the start of a new collaboration. From now on, ICC NL will be working closely with the Compliance & Integrity Management programme of Vrije Universiteit Amsterdam (VU) to broaden stakeholder engagement and share knowledge on several key subjects. We spoke to Tom Loonen and Jacco Wielhouwer to find out more. Tom is a professor in Financial Law and Integrity at the VU. He is responsible for the educational programmes focusing on Compliance and Integrity Management and Financial Economic Crime. Jacco is a professor at the VU’s School of Business and Economics and the Academic Director of the Executive Master of Compliance and Integrity Management. How did you come into contact with ICC NL? Tom: We knew, of course, about the Week of Integrity that ICC NL organises. The content of this week is very important for the VU, especially in the context of our Executive Master of Compliance and Integrity Management programme. This gave us the idea to work closer together. Jacco: If you look at the goals of ICC NL – they focus a great deal on integrity, fighting corruption, compliance and ESG. These subjects are very close to the goals of our education. Moreover, we regularly carry out scientific research together with companies; this yields results that are both relevant and practical to companies. Can you give some examples of your research at the VU? Jacco: To name just a few subjects... We look at international tax planning: the use of Incoterms by business units to shift costs between countries to influence taxes. Another example is where we look at how illegal or unethical behaviour develops and grows within organisations. This is very relevant in the fight against corruption. A third example is our research on how certain AI tools and processes can lead to discrimination. Why is this research relevant to the business community? Tom: What is interesting for ICC members is what we see very often; this is that regulators issue guidelines on a lot of legal topics. And instead of treating these purely as guidelines, many corporates deal with these more as ‘pseudo laws’ and stop thinking critically and just automatically tick the boxes of the guidelines. I would say our research is relevant for ICC members because it can help them think critically in order to be more effective when it comes to following regulations. Our research and training programmes based on up-to-date academic insights can guide and steer organisations towards good, efficient and effective conduct instead of just ‘ticking the boxes’ How do you see ICC NL and the VU helping each other? Tom: We really differentiate ourselves by taking a scientific approach to our training. To that end, we can give ICC NL access to interesting, relevant and accessible scientific material. And ICC has interesting access for us to the international business community which we would love to be in contact with for research or to welcome in our executive education. We are trying to link these two strong labels to help each other in a positive way. What’s the next step? Jacco: We are going to start pragmatically – seeing where we can help each other. ICC NL is quite small, but it has a big reach. The Netherlands also has a very important position in international trade and taxation. We hope to reach international companies with our programme. And on the other hand, we hope that we can help ICC NL by providing scientific insights to the companies and possibly in their global commissions, whether that’s on tax, integrity or compliance. Want to find out more about the educational programmes for professionals in the area of compliance and integrity management at the Vrije Universiteit Amsterdam? Here are some useful links. • If you are interested in the Executive Master of Compliance and Integrity Management, or specific trainings on Organizational Culture & Behavioural Risk, Enterprise Risk & Compliance Management, Data, Evidence & Compliance, Regulatory Impact & Organizational Response, see Executive Master Compliance & Integrity Management School of Business and Economics for Professionals - Vrije Universiteit Amsterdam. • Sign up for an information session. Onsite on 15 May, online on 20 May. Open Evening - Vrije Universiteit Amsterdam • Information about the training to become a financial economic crime expert: https://vu.nl/en/ education/professionals/courses-programmes/fec-risk-expert/overview • Feel free to contact us - compliance.sbe@vu.nl

< Back < Previous | Next > Marketing & Advertising ICC’s Work on Marketing and Advertising 30 Jan 2025 Since its first publication in 1937, the ICC Advertising and Marketing Communications Code has served as the gold standard for responsible advertising. Recognized and implemented by self-regulatory bodies in over 40 countries, it provides a global framework for ethical marketing practices. The Code helps businesses maintain trust with consumers, ensure compliance with regulations, and adapt to evolving challenges in the advertising landscape. Setting Global Standards for Responsible Marketing As marketing evolves with new technologies and consumer expectations, ICC continues to update and expand its guidance to promote transparency, fairness, and integrity in advertising worldwide. The latest 11th edition of the ICC Code reflects these ongoing efforts, addressing issues like green claims, influencer marketing, and diversity & inclusion . Key Focus Areas & 2025 Agenda This year, the ICC Marketing and Advertising Commission is tackling some of the most pressing issues in advertising and marketing. Key initiatives include: 📌 Responsible AI in Advertising – Developing new guidance on the ethical use of AI in marketing (new workstream led by Microsoft & Google). 📌 Marketing & Advertising to Children – Updating ICC’s standards to ensure responsible digital advertising to young audiences (new workstream led by Lego & Keller & Heckman). 📌 Environmental Marketing Communications – Strengthening the ICC framework for clear, evidence-based green claims (new workstream led by Keller & Heckman). 📌 Responsible Food & Beverage Marketing – Updating ICC’s guidelines on advertising food and beverages in a responsible way (new workstream led by WFA). 📌 Responsible Alcohol Marketing – Revising ICC’s self-regulation rules for alcohol marketing , ensuring high ethical standards (new workstream led by WFA & IARD). 📌 Market & Social Research Ethics – Finalizing the updated ICC/ESOMAR Code on ethical research and data analytics. These initiatives aim to help businesses navigate complex regulations, align global best practices, and protect consumer trust in an increasingly digitalized world. New Dutch Advertising Code Released! We are pleased to announce the launch of the Dutch version of the ICC Advertising and Marketing Communications Code. To mark the occasion, we hosted a webinar discussing the latest updates to the ICC Code, green claims, and key legal and compliance challenges in advertising. Webinar Overview: Responsible Advertising – Challenges and Solutions 📅 30 January 2025 The webinar provided key insights into the evolving landscape of advertising regulations, with a strong focus on environmental claims, cross-border compliance, and the increasing complexity of marketing regulations . Key Takeaways: 🔹 Navigating Cross-Border Advertising Rules Advertising laws are only partially harmonized across Europe , leading to different interpretations in each country. Businesses face challenges due to varied enforcement bodies , including consumer authorities, NGOs, and self-regulatory organizations. Inconsistent rulings and legal interpretations across jurisdictions create uncertainty for international advertising campaigns . 🔹 The Growing Complexity of Environmental Claims Greenwashing is under increased scrutiny —companies must ensure environmental claims are clear, substantiated, and not misleading . Regulators and NGOs actively monitor and challenge vague or exaggerated sustainability claims (e.g., "climate neutral" or "eco-friendly"). From product packaging to digital ads, investor reports, and recruitment materials , all communications can be subject to green claim regulations. Businesses must consider how consumers perceive their claims , as even well-intended messages can be misleading . The risk of "green-hushing" —where companies under-communicate sustainability efforts to avoid regulatory risk —is increasing. 🔹 Legal and Compliance Risks in Advertising Companies must balance the marketing of innovation with compliance, ensuring that new and emerging technologies are communicated accurately without overstating their impact. Claims about technological advancements, sustainability improvements, or new product features must be fact-based and verifiable to avoid misleading consumers. The role of AI in advertising introduces new challenges in accountability and transparency. Influencer marketing is under growing scrutiny, with specific rules for large-scale influencers (500K+ followers) . 🔹 How Businesses Can Stay Ahead ✅ Implement good practice guidelines for legal and marketing teams. ✅ Establish internal training programs to build awareness of advertising risks across departments. ✅ Develop a risk-based approach to green claims and advertising content. ✅ Seek external compliance reviews for high-risk campaigns. ✅ Maintain transparency and accuracy —especially in sustainability messaging. 💡 Final Thought: The advertising landscape is evolving rapidly. With heightened regulatory scrutiny, increased NGO activism, and stricter enforcement, businesses must stay vigilant and proactive to ensure responsible marketing practices. Missed the webinar? 📺 The full session will be published soon. Get Involved Are you interested in shaping the future of responsible marketing and advertising ? ICC welcomes businesses, legal experts, and policymakers to join our initiatives. Contact us to learn more about how you can participate! The ICC Advertising and Marketing Communications Code - ICC - International Chamber of Commerce

< Back < Previous | Next > ICC Model Contract New ICC Model Contract on Commissioning & After-sales Services 18 Feb 2025 The ICC Model Contract on Commissioning and After-sales Services provides a balanced and flexible legal framework for international agreements related to the installation, testing, maintenance, and repair of goods or equipment. It helps parties define clear responsibilities, timelines, and liability terms, reducing the risk of disputes in cross-border service arrangements. Companies purchasing a machine or industrial solution typically need to arrange for the provision of services to maintain the smooth functioning of operations. In the context of global trade, these services may be provided in a range of formats and across geographies. The increasing diversification and global reach of company operations highlight the need for a set of standard terms to govern such service arrangements. ICC has drafted this model contract to provide companies and their advisors with an internationally applicable, fair, and balanced template. The model covers the services connected to the supply of a machine, equipment, or an industrial solution. This typically involves installation; assembly and putting into operation (the ‘commissioning services’); and maintenance or after-sale services. The model is intended to service both manufacturers and suppliers of machines, equipment and industrial solutions, and companies providing such commissioning and maintenance and after sale services. Although the present model form has been established especially for international situations, nothing prevents the parties from using it for domestic contracts, i.e. contracts between parties having their place of business in the same country. Each ICC Model Contract includes a fully editable version in Microsoft Word, permitting you to easily adapt the contract to your specific case. Explore the ICC Model Contract: eBook: 845E ICC Model Contract Commissioning and After-sales Services | ICC WBO Netherlands

< Back < Previous | Next > Dispute Resolution Dispute Resolution Best Practices: Insights from Recent ICC Trainings in the Netherlands Ulrich Kopetzki 3 Apr 2025 The ICC recently conducted a two-day advanced dispute resolution training in the Netherlands, bringing together over 40 legal and business professionals to explore strategies for handling complex commercial disputes. Emphasizing early assessment, tailored approaches, and proactive use of ICC support services, the sessions highlighted ICC arbitration’s flexibility, global reach, and practical tools to streamline and enhance cross-border dispute resolution. Ulrich Kopetzki ICC Dispute Resolution Services recently delivered a specialized training program across major Dutch companies and law firms. Ulrich Kopetzki, Acting Director for Europe and Central Asia, shared insights into advanced dispute resolution strategies over two intensive days of sessions. The program brought together over 40 experienced legal and business professionals interested in expanding their dispute resolution toolkit. Through collaborative workshops and discussions, we explored nuanced approaches to complex commercial disagreements and exchanged perspectives on optimizing dispute management processes. This initiative supports our ongoing dialogue with the Dutch business community and highlights the evolving landscape of international dispute resolution. Frequently Asked Questions How can we draft more effective dispute resolution clauses? Arbitration offers flexibility to tailor proceedings to your specific needs. Starting with the ICC model clause, consider key strategic choices like seat of arbitration, expedited procedures, confidentiality requirements, and multi-tiered dispute resolution steps. Sometimes leaving certain issues undetermined maintains valuable flexibility. These customizations create a dispute resolution process aligned with your business relationship and industry needs, potentially saving significant time and costs if a dispute arises. What are the advantages of ICC arbitration specifically? ICC arbitration stands out for its global reach (operating in 140+ countries and multiple languages), institutional neutrality, and exceptional quality control through the Court’s award scrutiny process. Its century of experience, client-centric case management, and innovative rules create a level playing field for parties worldwide. This combination makes ICC particularly valuable for complex cross-border disputes requiring efficient, predictable, and enforceable outcomes. How can parties make best use of the ICC Court and Secretariat in an arbitration? The ICC Court and Secretariat offer comprehensive support beyond what’s explicitly stated in the Rules. Some valuable ways to leverage the Court and Secretariat include: 1. Seeking arbitrator selection assistance - When parties need help identifying potential arbitrators, the Secretariat or ICC Court can provide lists of candidates, initiate communication with potential arbitrators about their availability, or establish a list procedure where parties rank their preferences. 2. Requesting specific arbitrator criteria - Parties can jointly agree on criteria they want the ICC Court to consider when appointing an arbitrator, such as nationality, language proficiency, or particular industry expertise. 3. Understanding ICC Court decisions - Any party can request that the Court communicate its reasoning for decisions on jurisdiction, consolidation, arbitrator challenges, or replacements, enhancing transparency in the process. 4. Using the Secretariat as an intermediary - The Secretariat can facilitate communication between parties and the tribunal, especially for sensitive issues like concerns about fees, delays, or case management challenges. 5. Utilizing escrow services - Beyond holding the advance on costs, the Secretariat can provide escrow services for VAT payments, expert fees, or security for costs. 6. Document handling and confidentiality - The Secretariat can serve as a neutral depository for confidential documents, including sealed settlement offers, and ensure they’re only released at appropriate times. 7. Getting logistical support - Leverage the ICC Case Connect platform for document sharing, get help with hearing arrangements through the ICC Hearing Centre, or obtain assistance with visa applications for participants. 8. Requesting advance notice of awards - Parties can arrange to receive alerts when an award notification is imminent, or request specific timing for award delivery. 9. Post-award assistance - The Secretariat continues to provide support after the award is issued, including certified copies of documents, notarization, and letters reminding parties of compliance obligations.

< Back < Previous | Next > ICC Trade Register 2025 30 Oct 2025 Built on over USD 25 trillion in transaction data, the ICC Trade Register 2025 offers the most comprehensive insight into global trade and supply chain finance. Its findings confirm trade finance as a low-risk, high-impact asset class—and show how data-driven evidence continues to shape smarter regulation, sustainability, and competitiveness worldwide. ICC Trade Register 2025 The global benchmark for trade and supply chain finance For over a decade, the ICC Trade Register has provided the most authoritative, data-driven picture of global trade and supply chain finance. With aggregated data from leading international banks, now exceeding USD 25.7 trillion in transactions , it has become the industry’s reference point for understanding risk, guiding regulation, and shaping how trade finance supports the real economy. From data to policy impact The ICC Trade Register is more than a database: it is a strategic instrument for the financial system . Its empirical evidence has influenced major prudential reforms, ensuring that trade finance receives the risk-sensitive treatment it deserves under Basel III . Over the years, ICC data has: Demonstrated the short-term, self-liquidating nature of trade finance instruments, leading to the maturity flow waiver ; Supported a reduction in Credit Conversion Factors from 50 % to 20 % for performance guarantees in the EU and UK; Secured lower Required Stable Funding under the Net Stable Funding Ratio (from 10 % to 2.5 %); Helped regulators adopt Exposure at Default (EAD) instead of full nominal values for leverage ratio calculations. These outcomes are not abstract. They translate into 30–60 % capital savings , up to 90 % reductions in expected credit loss provisions , and EUR 1–2 million in annual liquidity savings for mid-size and large banks. A clearer view of trade finance performance The 2025 edition of the Trade Register provides insight into a trade landscape being reshaped by geopolitics, digitalisation and sustainability. Its findings confirm that trade finance remains one of the lowest-risk asset classes in banking, even amid uncertainty. Key trends include: Receivables finance is now the fastest-growing trade product, projected to expand at a 5.4 % CAGR through 2033 ; Sustainable trade finance continues to rise — 3.1 % of global transactions are clearly green, and 74 % show potential sustainability alignment; Digital trade is gaining legal force, with MLETR-based legislation now covering around 10 % of global exports; Artificial intelligence is moving from pilot projects to enterprise-wide tools, improving efficiency and compliance across banking operations. These shifts underscore how technology, regulation and sustainability are converging to redefine trade finance — turning it into both a growth engine and a channel for responsible investment. Membership: data, dialogue, and influence Participating in the ICC Trade Register gives banks access to exclusive benchmarking, early insights, and a direct voice in policy discussions. Members benefit from: Early access to the complete report and datasets; Peer benchmarking of trade finance portfolios; Members-only briefings on regulatory developments; Active participation in steering discussions that guide the industry’s collective advocacy. By contributing data, member institutions help build the evidence base that underpins future engagement with the Basel Committee , the European Central Bank , and other regulators, ensuring that the risk profile of trade finance is recognised fairly and accurately. “The ICC Trade Register has become the global benchmark for our industry, providing clarity, confidence and tangible impact.”Samuel Mathew, Chair of the ICC Trade Register and Managing Director, Head of Documentary Trade at Standard Chartered Accessing the Trade Register 2025 The ICC Trade Register can be downloaded instantly and digitally via 2go.iccwbo.org .Institutions can choose from four levels of access: global overview, regional breakdown, single-region detail, or full report with Loss Given Default (LGD) data. Financial institutions that wish to contribute data or join as members can contact the ICC Trade Register team directly. Learn more ICC Trade Register 2025 Brochure – Full overview of insights, membership and access options. ICC Trade Register Strategic Preview – A closer look at the data’s regulatory influence and the 2025 outlook. ICC Banking Commission – ICC’s global rule-making body for the banking industry.

< Back < Previous | Next > Business Business responds to US reciprocal tariff plan 2 Apr 2025 Following the announcement of the US reciprocal tariff plan, the International Chamber of Commerce has issued a statement describing the new measures as a shock to the global trading system that need not result in a systemic crisis. Speaking on behalf of more than 45 million companies in over 170 countries, ICC Secretary General John W.H. Denton AO said: “What we’ve seen today represents a watershed moment in American trade policy that poses severe downside risks to the global economy. To put this in historical context, effective US tariff rates now stand at a level not seen since the 1930s — and cover a significantly higher proportion of American GDP than the infamous Smoot-Hawley Act. “This is, without doubt, a shock to the global trading system but it need not result in a systemic crisis. The US is an economic superpower but only accounts for 13% of global imports. How other nations respond to the new duties will ultimately determine the scale and depth of any economic fallout from “Liberation Day”. We continue to encourage governments to place an emphasis on negotiation and de-escalation to the greatest extent possible — tariff retaliation is a lose-lose game. “We are immediately concerned by the potential impact of the severe tariffs imposed on a range of emerging economies — an approach which risks further damaging the development prospects of countries already facing worsening terms of trade. “Businesses across our network will be seeking urgent clarification from the relevant US authorities on how new country-level tariffs will be applied in practice — including on how they interact with sector-specific duties and rules of origin requirements. Given the almost immediate entry into force of the new measures, there is a clear risk of costly supply chain disruptions and customs backlogs absent of express guidance being provided in a timely manner. “From a broader perspective, it’s clear that the measures announced today present a fundamental challenge to the rules-based governance of trade. In addition to responding bilaterally to the US administration, we also need to see governments taking action to safeguard the multilateral system — and set the foundations for its eventual revitalisation. “ Predictability and certainty are fundamental to cross-border commerce . We fully appreciate the US administration’s desire to secure a level playing field for international trade but remain deeply sceptical that a tariff escalation of this scale can deliver on that goal — multilateral solutions will ultimately be needed to resolve longstanding inefficiencies and inequities in the global trading system.”