Davos Diary: conclusions from the 2016 World Economic Forum

(Photo: Alliance President Monique Leroux with Mr Robert Shiller, Nobel Laureate, economist, academic, and author)

Alliance president Monique Leroux represented the International Co-operative Alliance at the 2016 World Economic Forum. Which are the three take-aways that our president thinks Alliance members and co-operatives worldwide will want to keep in mind?

1. Financial inclusion: critical to achieve stability. 73% Of the world is financially excluded. Financial inclusion is the basis to be recognised in society. It empowers people and is the basis for self-help, a dignified and sustainable way forward. Inclusion is not only a concern for emerging economies – developed economies have to make sure that all citizens have access to a banking services. Co-operative banks and credit unions play a significant role in improving financial inclusion and they should increase their global reach! Read more
    
2. Purpose - “In many sessions at the forum we discussed organisational "purpose". Co-operative businesses have a unique and authentic sense of purpose embedded – it’s in our DNA, and we should capitalize on it to accomplish our missions – it’s our co-operative identity. The co-operative marque and the .coop domain are essential co-operative marketing instruments to stand out, to express our co-operative identity and to signify the unique sense of purpose which connects co-ops. Read more
    
3. Growth through partnerships: there are many organisations at all levels delivering great work with a social goal today. The challenge though, is to achieve a joint effort - to co-operate! Monique Leroux: “Striking up authentic, sustainable and effective public-private partnerships, linking up the initiatives of corporations, public instances, local governments and citizens has been a major topic at the 2016 World Economic Forum. International organisations such as the Alliance have a key role to play. They unite members in a network rooted in economic activity around a common identity based on essential human values. All agree that such partnerships would help to develop much-needed education and infrastructure to start with. It is hard not to see the opportunity for co-ops in these fields, all the more since we have been acknowledged for our potential in managing infrastructure, in B20 recommendations.” Read more
    
4. Decent work - The theme of the 2016 World Economic Forum was “The Fourth Industrial Revolution” - Or how technological developments such as the sharing economy create new notions of ownership, and a need for more meaningful social connections. The sharing or collaborative, an economy is a new type of business built on the concept of shared resources. These new forms of work can provide a good match of job opportunities and allow flexible working schedules. However, they can also pave the way to a severe commodification of work. Co-operative enterprise, with its unique take on governance and values, can contribute to putting people before profit in the Fourth Revolution. Read more

Read the updates from the 2016 World Economic Forum, by Alliance President Monique Leroux here :

• World Economic Forum special : co-ops to drive the 4th Revolution 
• Davos Diary: co-ops to lead by inclusion and purpose
• Davos Diary: linking up, teaming up for growth is on the forum's minds

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