Canadian ICMIF member The Co-operators has been ranked #1 in the world for sustainability among cooperative insurance companies in a new ranking by Corporate Knights. Among financial services cooperatives, it was listed at #3. The ranking was announced at the 2014 International Summit of Cooperatives in Québec.
Corporate Knights, a Canadian organization dedicated to the promotion of "clean capitalism" worldwide, evaluated the sustainable business practices of the largest 139 financial services cooperatives around the globe. The organizations were identified in the World Co-operative Monitor, a list of the 300 biggest coops in the world, created by the International Co-operative Alliance with the help of Euricse (European Research Institute on Cooperative and Social Enterprises) as a technical-scientific partner. The 2014 edition of the World Co-operative Monitor was launched this week, also at the International Summit of Cooperatives.
"Sustainability principles align naturally with cooperative values, which emphasize concern for community and long-term value creation over short-term profit maximization," said Kathy Bardswick, president and CEO of The Co-operators. "It is a great honour to be ranked highly on this list, knowing there are so many coops around the world doing a remarkable job of balancing economic, social and environmental priorities. The progress we've made as an organization is due to the commitment of our staff and advisors, who have integrated our cooperative identity and commitment to sustainability into their daily activities."
Guided by its sustainability strategy, The Co-operators strives to align its business operations, products and services, and stakeholder relations with fundamental sustainability principles in a way that advances its long-term financial objectives.
The Co-operators reports on its sustainability performance annually. For more information, please see the 2013 Sustainability Report, entitled Stepping Up, in the Sustainability section of www.cooperators.ca.