An insight into co-operatives on a global scale

The International Co-operative Alliance (ICA) have launched the latest Global300 report to coincide with the official UN launch of The International Year of Co-operatives.

The report identifies the largest co-operatives across the globe, and their profound impact on the economy. The respected report, used by governments, academics, journalists and International Co-operative Alliance members alike, provides economic analysis much like Co-operatives UK's annual state of the sector report, 'The UK co-operative economy.'

"Co-operatives are a reminder to the international community that it is possible to pursue both economic viability and social responsibility" United Nations Secretary-General Ban Ki-Moon

As Charles Gould, Director-General of ICA, states: "Some think of co-operatives as small, local enterprises and in many cases that's true. But some are large businesses working at the national or regional level while others are giants running global operations valued in billions."

The Global300 demonstrates the breath and scale of co-operatives around the world; illustrated here.

Global300 list

In total the Global300 revenue is a staggering $1,600 billion based on 2008 Financial Data rank. According to ICA President, Dame Pauline Green, "member-owned co-operatives are a serious business model with scale".

18 UK based co-operatives rank highly on the Global300 list; including The Midcounties Co-operative, The Co-operative Group and Midlands Co-operative Society to name a few.

Co-operatives in the United Kingdom

In accordance with the Global300 List, co-operatives in the United Kingdom rank sixth in the globally economy; contributing 4% to global revenue.

The Global300 report categorizes co-operatives in seven sectors including agriculture, banking, consumer, insurance, worker, health, utilities, and other.

This supports evidence from this year's The UK co-operative economy 2011, the co-operative sector enjoys incredible success, even in the current economic climate, outperforming the UK economy.

UK banking co-operatives reach 'top 20'

Co-operatives and mutuals in the United Kingdom rank seventh in the 'banking' section, to which Nationwide contributes $14.88 billion "During the 2008 global financial crisis, co-operative banks gave millions of people stability and financial security because the co-operative banking business model emphasizes not profit maximisation but instead the best possible products and services to members." Global300 report.

UK consumer co-operatives reach 'top 20'

Co-operatives UK's largest member, The Co-operative Group, contributes $15.25 billion to the global economy; ranking seventh in the 'consumer top 20' of the report; closely followed by John Lewis Partnership PLC; ranking ninth place, contributing $10.18 billion. Highest ranking German co-operative, ReWe Group (Zentral-AktiengesellschaFU) contributes $49.60 billion. 

UK insurance co-operatives reach 'top 20'

According to Global300 "Mutuals and co-operatives represented nearly a quarter of the world's insurance industry in 2008, according to research conducted by ICMIF, demonstrating that such entities play an important role in protecting the financial well-being of individuals and their families." The Royal London Group made their way into the 'top 20' insurance list, ranking twelfth; contributing £5.53billion to the global economy.

Shaun Tarbuck, CEO of International Co-operative and Mutual Insurers Federation comments "Mutuals and co-operatives may build their competitive advantage through ICMIF as it continues to pursue its mission of providing a 'global reach for united strength."

Looking forward to 2012

The International Year of Co-operatives 2012 is a unique, opportunity to grow the co-operative economy globally.

Co-operatives UK asks you to 'make it co-operative', and to take part in the year long campaign. The International Year is a prime opportunity to promote what makes co-operatives different and together, show how co-operatives build a better world.