COOPERATIVES CAN BUILD SOCIO ECONOMIC RESILIENCE DURING CRISES UN OFFICIALS

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From: UNNews <UNNews@un.org>
Date: 6 Jul 2013 11:00:01 -0400
Subject: COOPERATIVES CAN BUILD SOCIO-ECONOMIC RESILIENCE DURING
CRISES -- UN OFFICIALS
To: news11@ny-mail-p-lb-028.ptc.un.org

COOPERATIVES CAN BUILD SOCIO-ECONOMIC RESILIENCE DURING CRISES -- UN OFFICIALS
New York, Jul 6 2013 11:00AM
The International Day of Cooperatives provides an opportunity to
spotlight how such enterprises can help build resilience in all
socio-economic spheres in times of "global uncertainty," United
Nations Secretary-General Ban Ki-moon said on Saturday.

"Over the course of the ongoing global financial and economic crises,
financial cooperatives have proven their strength and resilience,
benefitting members, employees and customers," said Mr. Ban in his
message marking the Day, which this year is on the theme, "Cooperative
Enterprise Remains Strong in Times of Crisis."

With the world facing multiple crises, and with natural disasters
testing even the most robust economies and communities, cooperatives
have meanwhile maintained high credit ratings, increased assets and
turnover, and expanded their membership and customer base, the UN
chief said.

"After disasters such as earthquakes, tsunamis and floods,
cooperatives have shown their ability to mobilize solidarity for
reconstruction," he continued, noting that agricultural cooperatives
improve the productivity of farmers by facilitating access to markets,
credit, insurance and technology.

Providing a further example, Mr. Ban explained that social
cooperatives can provide an important safety net in the face of
declining or minimal public welfare. They also show considerable
potential for empowering youth and alleviating the growing global
youth jobs crisis.

"On this International Day of Cooperatives, I call on Governments to
encourage policies to support and strengthen cooperatives so they can
contribute fully to inclusive and sustainable development," he said.

In his message, Guy Ryder, Director-General of the UN International
Labour Organization (ILO), praised the Day's theme as "a positive and
encouraging affirmation at a time when confidence in enterprises and
their respect for basic human values and ethical principles has often
been badly shaken."

"The celebration of International Cooperative Day is a welcome
reminder that solidarity generates strength and the capacity to build,
and that effective organizational and business models can indeed be
founded on values of justice and solidarity," Mr. Ryder added.

A recent ILO study, "Resilience in a downturn: The power of financial
cooperatives," showed that financial cooperatives out-performed
traditional investor-owned banks before, during and after the global
financial crisis in 2007 and 2008 and pointed to their long-term
stability. "Importantly, they kept credit flowing to small and
medium-sized enterprises -- the main source of job creation," he said.

"Worker cooperatives are growing in response to new economic realities
and the survival rate of such cooperatives in several countries
appears to equal or surpass that of conventional firms," the ILO chief
continued, adding that the enterprises have also stood the test of
time in delivering a range of social services to their members, while
consumer cooperatives help with the cost of living.

"As global attention focuses on the challenge of sustainable
development, cooperatives can and must play a key role as creative
enterprises expanding into new and innovative areas," Mr. Ryder said,
citing such spheres as recycling and renewable energy, providing
people with know-how, inputs, finance and markets at fair prices with
low-environmental impact.

In so doing, they will be making a valuable contribution to a just
transition to a low-carbon sustainable development path. "From the
world of work perspective, cooperative enterprises are well placed to
be leaders in advancing the decent work dimension of a just
transition," he said.

Jul 6 2013 11:00AM
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