Representatives of co-operative businesses took part in the B20 Summit in Antalya, Turkey, on 14 November. At the Summit, which preceded the G20 meetings, they called for greater inclusion of the co-operative perspective and for the recognition of their specific business model in the B20 recommendations to the G20.
This was the co-operative movement’s second year of participating in the B20, following the inclusion of Andrew Crane from Australia in 2014.
Co-operative delegates reminded the B20 leaders of the size and impact of the global co-operative sector, citing 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 $2.4tn. Moreover, 250m people are employed by or organise their living through a co-operative.
Monique Leroux, newly elected President of the International Co-operative Alliance, asked 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”, Ms Leroux said. She was joined by Jean-Louis Bancel, President of the International Co-operative Banking Association.
Charles Gould, Director-General of the International Co-operative Alliance, also said: “We see the B20 as an important venue for a range of issues essential to co-operatives as they are for all businesses. We appreciate being welcomed in this forum and encourage a greater inclusion of the impact and potential of the co-operative model in B20 recommendations.”
Speaking on behalf of the International Co-operative and Mutual Insurance Federation (ICMIF), Shaun Tarbuck, chief executive, 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 2015. The 5-5-5 Strategy aims out to reach out to five million uninsured, low-income households in five countries over five years; this would thereby provide 25m more people with microinsurance coverage by 2020 to help mitigate the impact of natural disasters and climate change.
Co-operative representatives had been working throughout the year on every B20 Task Force in order to ensure that the recommendations were balanced and included a co-operative perspective, even if not mentioning the sector directly.
Photo: the Alliance's delegation at the B20 in Antalya
