The inaugural World Co-operative Monitor, ranking the 300 largest co-operative and mutual enterprises by turnover and collecting data on all sizes of co-operatives across the globe in categories, was launched today in Manchester by its partners the International Co-operative Alliance (ICA) and The European Research Institute on Cooperative and Social Enterprises (EURICSE).
“This new data demonstrates that not only do co-operatives have significant scale, but that this scale is sustainable even in the face of difficult global economic conditions,” said Charles Gould, ICA Director-General. “More than this, with USD 2 trillion in annual revenue among the 300 largest co-operatives alone, this is a sector that is no side-player, but a major, global, economic force.”
“This is only the first step in achieving the final goal of the World Co-operative Monitor. In fact, the World Co-operative Monitor will not be limited to this – its main goal is to give visibility to the largest co-operatives, in terms of economic and/or social impact, in their countries,” said Gianluca Salvatori, CEO of Euricse. “The World Co-operative team, therefore, intends to gradually collect data that can describe how the largest co-operatives in the world contribute to the welfare of the countries in which they operate in terms of employment, facilities, etc.”
These top 300 co-operative and mutual enterprises accounted for USD 1,975.6 billion (USD 2.0 trillion) in turnover of which USD 158,7 billion is derived from the banking and financial services sector and USD 977,2 billion from the insurance sector.
The World Co-operative Monitor is an ICA initiative with the scientific collaboration of Euricse and is a continuation of the work begun by the ICA through its Global 300 list.