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Global co-ops leader forecasts unparalleled growth for sector
INTERNATIONAL co-operative business leaders, representing a US$3 trillion global market met in Sydney on March 2 to discuss the sector’s opportunities and challenges into the future.
The International Co-operative Alliance (ICA), the peak body for co-operatives globally meets in Sydney this week for the first time in the organisation’s 120 year history.
“Globally, co-operative firms represent a billion members, three million business and 250 million jobs which signifies the power of this business sector," said Melina Morrison, CEO of the Business Council of Co-operatives and Mutuals.
“The co-operative sector plays a vital economic and social role in communities, towns and cities across the world and here in Australia. Following the financial crisis, diversification of economies is key to stabilising economies in periods of market volatility.”
The Alliance is headed by Monique Leroux, CEO of Desjardin Group, Canada’s largest financial
co-operative with $229 billion in assets and over 7 million members.
Other members of the ICA Board include the leaders of the largest co-operative medical system in the world (Unimed – Brazil) and a peak body providing 12 percent of the US with energy (National Rural Electric Cooperative Association) and a Chinese organisation representing 160 million households (All China Federation of Supply and Marketing Co-operatives).
In an interview with the ABC’s The Business programme, Ms Leroux identified major growth opportunities for the co-operative sector in banking, insurance, agri-food and energy sectors.
Greg Wall, Group CEO of automotive co-operative Capricorn Society also sits on the global board as the first Australian representative.
“As the national peak body for the sector here in Australia, we are delighted to welcome the International Co-operative Alliance delegation to Australia," Ms Morrison said.
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