Today, the International Cooperative Alliance (ICA) and the European Research Institute on Cooperative and Social Enterprises (Euricse) released the 2023 edition of the World Cooperative Monitor (WCM) report. The report contains the Top 300 rankings of the world’s largest cooperatives and mutuals with a special focus on member benefits in this edition.
The report was launched during a webinar today which was organised in collaboration with the ICA International Cooperative Entrepreneurship Think Tank (ICETT). This is the 12th edition of the report which provides:
- a list of the worlds’ largest 300 cooperatives and mutuals,
- an analysis of the economic sector and
- a focus on how large cooperatives and mutuals convey their identity and inform the public about their benefits to members
The World Cooperative Monitor provides an annual database that shows not only the economic importance of the cooperative business model, but also the global impact cooperatives and mutuals have on their members and communities. The report’s producers say this is accomplished by building on years of research and data collection, and continually refining and improving the methodology.
The aim of the in-depth research and collaboration which goes into producing this report is to provide the cooperative movement with a significant tool to evaluate its own positioning and highlight the importance of cooperative enterprises to the public and policy-makers around the world.
Jeroen Douglas, Director General of the ICA said: “The Top 300 rankings and sectoral analyses featured in this report showcase the diversity and magnitude of cooperative impact. From agriculture to finance, healthcare to energy, cooperatives are transforming industries, putting people before profits, and creating sustainable models for the benefit of all. In a world facing numerous challenges, from economic uncertainties to social inequalities, the cooperative model emerges as a beacon of hope, demonstrating its unique ability to foster inclusive growth, shared prosperity, and community resilience.”
Gianluca Salvatori, Secretary General of Euricse, stressed the importance of measuring the size as well as the impact of the cooperative economy, especially given the increased visibility over recent years of the social economy. “Important global initiatives, such as the European Social Economy Plan, recognition within the European Industrial Strategy and the European Council Recommendation of November 2023, underscore the importance of the social economy. These initiatives also validate and challenge this type of reporting, inviting the World Cooperative Monitor (WCM) to contribute to a more precise understanding of the social economy, particularly in the cooperative sector.”
In a dynamic landscape where the social role of cooperatives is increasingly evident, Salvatori also noted that the new report also contains an in-depth look at the benefits that these organisations provide to their members, with an emphasis on the online communication strategy they adopt to convey the identity of cooperatives and their ability to provide added value.
Focus 2023 – Cooperative identity and member benefits
This year’s report features a chapter focused on how large cooperatives and mutuals convey their identity as cooperative or mutual and how they inform the public online about the member benefits to enlarge their social base. They employ diverse elements, including direct statements, historical narratives, structures, business practices and descriptions of their cooperative nature. Additionally, they highlight various member benefits, both tangible and intangible, which vary according to the specific type of cooperative.
The 2023 Top 300
The WCM report found the top 300 cooperatives and mutuals in the world reported a total turnover of more than two trillion USD (2,409 billion USD), based on 2021 financial data. These organisations operate in various economic sectors, with Agriculture (105 enterprises) and Insurance (96 enterprises, based on turnover) leading the list.
There are 21 ICMIF members listed in the WCM for 2023, of which two appear in the Top 10 of the insurance rankings by turnover, Japanese ICMIF member Zenkyoren is in third place and Achmea (Netherlands) is in seventh place. ICMIF is the official sectoral organisation for the ICA for insurance.
As a more general financial services provider, ICMIF member Mouvement Desjardins appears in the broader category Financial Services and is ranked in sixth position in that Top 10 by turnover.
