NZ echoes co-ops’ calls at B20

NZ echoes co-ops’ calls at B20

Co-operative business leaders at the B20 Summit in Antalya, Turkey called for greater inclusion of the co-operative perspective and for the recognition of their enduring business model in B20 recommendations to this week’s G20 Summit. space

And Cooperative Business NZ is standing alongside the International Co-operative Alliance (ICA) and our overseas counterparts.

ICA Director-General Charles Gould and CBNZ Chief Executive Ian Macintosh have discussed what the co-op delegates at last weekend’s (Nov 14-15) B20 Summit had to say to pass on to the world’s 20 most powerful leaders.

“We see the B20 as an important venue for a range of issues essential to co-operatives as they are for all businesses. We appreciated being welcomed in this forum and encouraged a greater inclusion of the impact and potential of the co-operative model in B20 recommendations,” said Charles in a pre-G20 media statement.

Co-op leaders, including newly elected ICA President Monique Leroux, reminded the B20 delegates of the size and impact of the global co-operative sector. She cited from the recently released 2015 edition of the World Co-operative Monitor, which shows 7% growth in turnover for the 300 largest co-operatives alone, aggregating USD 2.4 trillion. An estimated 250 million people are employed by, or organise their living through, a co-operative.

According to the United Nations’ first Global Co-operative Census, NZ’s is the world’s most co-operative economy per capita.

Ian Macintosh praised the ICA’s leadership and advocacy at the B20 Summit which followed immediately after the ICA’s Global Conference in Antalya and preceded G20.

“It’s vital that the co-operative voice is heard and respected in world forums like B20 and G20, where our own Prime Minister John Key will attend as an observer,” he said.

Together with Jean-Louis Bancel, President of the International Co-operative Banking Association, Monique Leroux called for the recognition of the diversity of business models, in particular in financial regulations.

“We need an appropriate calibration of the rules to avoid any adverse effects for financial co-operatives, because they are fundamental for financing growth and, in particular, financing SMEs,” she said.

Speaking on behalf of the International Co-operative and Mutual Insurance Federation (ICMIF), CEO Shaun Tarbuck informed B20 delegates of a new initiative, the ICMIF 5-5-5 Mutual Microinsurance Strategy, which will be promoted at the COP21 meetings in Paris in early December. The 5-5-5 Strategy aims out to reach out to 5 million uninsured, low-income households in 5 countries over 5 years; this would thereby provide 25 million more people with microinsurance coverage by 2020 to help mitigate the impact of natural disasters and climate change.  This target equates to 25% of the private sector portion of the overall G7 commitment to reach 400 million more people by 2020. Insurance co-operatives and mutuals are the fastest-growing portion of the insurance industry, now providing 27% of the global insurance market.