World Cooperative Monitor: new ranking of the largest cooperatives is now available with a focus on SDG 8

Tuesday, 28 January 2020

The International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) have just published the 2019 issue of the World Cooperative Monitor.

The 2019 edition is the eighth annual issue of the report. It explores the economic and social impact of the largest cooperatives and mutuals worldwide, providing a ranking of the Top 300, sector rankings, and an analysis of contributions towards meeting the objectives of the United Nations Sustainable Development Goals (UN SDGs).

The 2019 World Cooperative Monitor collected data for 4,575 organisations (1,152 from Europe, 3,218 from Americas, 197 from Asia-Pacific, and eight from Africa) from 10 different sectors of activity. The Top 300 cooperatives and mutuals report a total turnover of over two trillion USD (2,034.98 billion USD), based on 2017 financial data.

2019 Results

The world’s top 300 cooperatives and mutuals operate in various economic sectors, but this year’s results shows that the insurance sector holds the largest presence in the Top 300: insurance has a 39% share; agriculture 31.7%; wholesale and retail trade 17.7%; banking and financial services 7%; industry and utilities 1%; with health, education and social care 1%. New for this year, the report also contains data on employment and cooperative types.

Japanese ICMIF member, Zenkyoren, is ranked number five in the top 10 of cooperatives/mutuals by turnover. Dutch ICMIF member Achmea appears in the insurance top 10 at number nine (Zenkyoren is at number one).

Other ICMIF members which appear in the overall Top 300 are: Unipol, Italy (38); HUK Coburg, Germany (54); Folksam, Sweden (80); Zenrosai, Japan (93); Securian Financial, USA (107); Länsförsäkringar, Sweden (112); MAIF, France (116); Swiss Mobiliar, Switzerland (119); DEVK Versicherungen, Germany (122); The Co-operators, Canada (139); NTUC Income, Singapore (147); Wawanesa Mutual, Canada (163); NFU Mutual, UK (174); EMC Insurance Companies, USA (207); Shelter Insurance, USA (209); P&V, Belgium (213); JCIF, Japan (225); The Kyoei Fire & Marine Insurance Co, Japan (226); Royal London, UK (229); Grupo Sancor Seguros, Argentina (249); LocalTapiola, Finland (267); and Mutuelle Vaudoise, Switzerland (292).

Focus on SDG 8

This year’s report has a special analysis of the Top 300 and the eighth United Nations’ Sustainable Development Goal which is Inclusive and sustainable economic growth, full and productive employment and decent work for all – SDG 8. The report includes three case studies which relate specifically to SDG 8 and there is also an interview with the Secretary General of CICOPA, Diana Dovgan on the topic.

The contribution to the SDGs and the importance of the World Cooperative Monitor was cited by the UN Secretary-General António Guterres during the 74th session of the United Nations General Assembly, held in New York in September 2019.

Speaking about the report, Bruno Roelants, Director-General of the ICA said: “This new edition of the World Cooperative Monitor goes beyond the Top 300 ranking based on turnover to further explore the dynamics of the cooperative movement. As highlighted by the United Nations, cooperatives make a substantial contribution to achieving the 2030 UN Agenda on Sustainable Development. In this year’s report, Euricse says, there are concrete examples of specific action undertaken by some of the largest cooperatives from around the world.”

Gianluca Salvatori, Euricse Secretary General said: “Cooperatives must take on (and communicate) a strategy for sustainable development able to represent an effective alternative to the mainstream shareholder model, able to comprehensively respond to present challenges. In fact, the more organisations participate in reporting initiatives that enable the collection of reliable and internationally comparable data, the more research and analysis can be done to demonstrate the social and economic impact of cooperatives.”

Download the World Cooperative Monitor here.