The International Chamber of Commerce (ICC) introduces the third wave of the Principles for Sustainable Trade, incorporating feedback from over 30 leading banks and corporates. The updated principles build on previous versions, offering greater flexibility alongside actionable guidance for assessing trade sustainability across all sectors.
Wave 3 includes the enhanced guidelines for trade finance through the newly released Principles for Sustainable Trade Finance. These provide industry-tailored guidance on the use of proceeds that fits within the wider Principles for Sustainable Trade, with a strong focus on aligning trade transactions with both environmental and socioeconomic sustainability goals.
The Principles for Sustainable Trade cover four key components:
- Use of proceeds;
- Buyer;
- Seller;
- Distribution.
This allows for comprehensive sustainability assessments in line with established frameworks such as the Loan Market Association Green Loan Principles.
Now sector-agnostic, the Principles for Sustainable Trade offer simplified, high-level principles that banks and corporates can easily integrate, with optional granular guidance on how to operationalise the principles. Significant updates, such as improved assessments for use of proceeds and distribution, reflect feedback from the Wave 2 Pilot.
The Principles for Sustainable Trade aim to support global efforts to meet the Paris Agreement targets, decarbonising trade activities, and advancing the United Nations Sustainable Development Goals.
Pilot and survey engagement
ICC will run a pilot following the launch of Wave 3 of the Principles for Sustainable Trade where it will be tested on real transactions and for leading trade practitioners to provide their feedback. This collaborative approach will ensure that the principles remain practical, scalable, and reflective of industry needs.
In addition, ICC is launching a survey designed to gather further insights and feedback from industry professionals.
Engage and participate
- Provide your feedback by participating in the survey
- Contact us: For more information on the Principles for Sustainable Trade or to submit detailed comments, please reach out to:
- Raelene Martin, Head of Sustainability, ICC, Raelene.MARTIN@iccwbo.org
- Tomasch Kubiak, Policy Manager, ICC, Tomasch.KUBIAK@iccwbo.org
ICC Principles for Sustainable Trade: Wave 3
