Seven NZ Co-ops in World’s Top 300

Seven NZ Co-ops in World’s Top 300

Seven NZ co-operatives now appear in the world’s top 300 as announced last week at the ICA’s General Assembly held in Buenos Aires. The world’s top 300 co-ops now have a combined turnover of just over US$2.0 trillion according to the latest edition of the World Co-operative Monitor, this based on 2016 revenues. Here are the rankings of NZ’s co-ops:

  • Fonterra: 36th largest
  • Foodstuffs North Island: 104th
  • Foodstuffs South Island: 180th
  • Zespri: 215th
  • Silver Fern Farms: 221st
  • Farmlands: 223rd
  • Alliance Group: 281st

The world’s largest co-op is Credit Agricole (France) with $US90.2 billion revenue pa.

Now in its 7th year, the World Co-op Monitor report is produced by the ICA with the scientific and technical support of the European Research Institute on Cooperative and Social Enterprises (Euricse). The monitor collected data for 2,575 organisations from eight sectors of activity, 1,157 of which have a turnover of over US$100m.

The world’s top 300 co-ops, including mutuals and societies, operate in different sectors: insurance (32%), agriculture (35%), wholesale and retail trade (19%), banking and financial services (8%), industry and utilities (2%), health, education and social care (2%) and other services (2%).

New this year is an analysis of the contribution of the world’s largest co-operatives towards meeting the UN’s Sustainable Development agenda. The monitor examines documents reported to the UN Global Compact project and Global Reporting Initiative (GRI).

Participants in the United Nations Global Compact are required to produce and submit online an annual report entitled Communication on Progress (CoP) that outlines the efforts to operate responsibly and support society. Within the GRI, co-operatives can upload their sustainability report to the online database of the project specifying whether or not the report was compiled using GRI indicators. According to the Monitor, 33 CoPs and 58 sustainability reports were collected from 75 co-operative organisations.

In 2012 the World Co-op Monitor stated that NZ was one of the most cooperative economies in the world based on revenue as a % of GDP, this figure now approaching 20%.