Your Monday morning coffee briefing from TFG. COP26 wrap-up: UK vows to become the world’s first ‘net zero-aligned financial centre’. TFG launches a new Sustainable Trade Finance Hub. A new ICC report proposes the first global framework for sustainable trade and trade finance definitions. Standard Chartered launches a new Sustainable Account solution in the UK and UAE. And UK Export Finance secures 20% budget hike, expanding support for British exporters.
The International Chamber of Commerce (ICC) has published a new report setting out proposals to tackle the challenge of defining and setting common standards for sustainable trade and trade finance.
Letters of credit emerged in Europe in the 1800s. However, in their early days the functionality of letters of credit was limited, due to the non-uniformity of national laws.
A new ICC report, released yesterday, estimates that if G7 countries can deliver on legal reform, standardisation, and adoption of digital records, then trade between them could rise by about 43% above its 2019 value by 2026.
Contour, the digital trade finance network, announces partnership with the Global Legal Entity Identifier Foundation (GLEIF) to enable the use of Legal Entity Identifiers (LEIs) within its network, to financially… read more →
The magnitude and pressure around climate change and the United Nations (UN) agenda can give an opportunity to make a joint effort to transform supply chains more sustainable.
Uniform Rules for Digital Trade Transactions (URDTT) Version 1.0 released by the ICC, October 2021.
These are the first ICC universal rules for completely digital trade transactions using Internet protocols. The following are edited highlights.
The 2021 ICC Trade Register summary, on the credit risk profiles of trade finance, supply chain finance and export finance transactions. Read our summary on 38m transactions representing USD $19.2t exposures, and 28% of global trade flows.
Canada-based software provider Surecomp has today announced the expansion of its Trade Finance-as-a-Service (TFaaS) offering to enable smaller and mid-sized banks to improve their trade finance processing efficiencies and customer… read more →
The District Export Council of San Diego and Imperial Valley (SDIDEC) has sponsored the first workspace for ICC eRules guidelines for digital trade transactions.
