Davos Diary: conclusions from the 2016 World Economic Forum

Jan 29, 2016

Alliance President Monique Leroux with Mr Robert Shiller, Nobel Laureate, economist, academic, and author.

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

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

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

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