2007 Global 300. Garry Cronan

Transcription

1 2007 Global 300 Garry Cronan FINANCING LOCAL DEVELOPMENT: UNDERSTANDING THE ROLE OF MUTUAL CREDIT AND CO-OPERATIVE BANKS Conference, Paris 23 November 2007 International Co-operative Alliance 1

2 International Co-operative Alliance 2

3 Outline of presentation Why the Global 300? 2007 list CSR, Developing 300 and National lists! Major issues International Co-operative Alliance 3

4 Why the need for such a list? Demonstrate co-ops work in a business sense in the marketplace particularly in some sectors of the market. Just because they are large does not mean that they can t still be co-ops or mutuals! Showing co-op values work and don t limit business performance commercial success and solidarity important to instil confidence among co-operatives themselves that this way of operating works! Question of visibility Among co-operatives and mutuals themselves! With media, particularly the business media international and national With business generally To government and policy makers generally, internationally, regionally, nationally and within industry sectors To academic and research institutions To business advisers, accounting/legal etc To the broader community Question of being able to prove your case Something of a statistics crisis Need to give profile to the statistics issue Move from rhetoric to evidence based International Co-operative Alliance 4

5 Global 300. Concept launched at General Assembly in October 2005 First Global 300 ranking released at Forum for a Responsible Globalisation in Lyon, France in October 2006 Second annual ranking launched at ICA General Assembly in Singapore in October 2007 Surprised many by demonstrating the unexpectedly large size of the biggest cooperative and mutual businesses in the world International Co-operative Alliance 5

6 2007 global financial methodology Based on turnover, although other criteria possible Refinement of sectoral criteria Highest level of audited aggregation used USD used for ranking, although for % change of revenue Structure as at end of FY 2005 used International Co-operative Alliance 6

7 The 2008 list Revenue almost 1 trillion USD Compared to last year (11% real growth ignoring currency fluctuations) Largely confirms total in first ranking Need a variety of ways of showcasing cooperative performance and achievements International Co-operative Alliance 7

8 5,000,000 4,500,000 12,452 (G10)The 10 Biggest Economies in the World 4,672 4,000,000 3,500,000 3,000,000 2,500,000 2,800 2,000,000 1,500,000 2,197 2,113 1,910 1,719 1,000, ,000 1,124 1, USA Japan Germany UK France China Italy Spain Canada Global 300 International Co-operative Alliance 8

9 Global 300 by Region Asia - Pacific 21% North America 17% South America 0.4% Europe 62% International Co-operative Alliance 9

10 Global 300 by Sector Banks 16% All Others 5% Food & Agri 30% Insurance 23% Consumer 26% International Co-operative Alliance 10

11 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 18% 15% 15% 13% 6% G300 - % Of Turnover By Country 4% 4% 4% 3% 3% 3% 2% 2% 2% 2% 1% 1% 1% 1% 0.5% 0.4% 0.3% 0.2% 0.2%0.2% 0.1% 0.1% International Co-operative Alliance 11 France Japan USA Germany Netherlands Italy UK Switzerland Korea Finland Sweden Spain Canada Denmark New Zealand Norway Belgium Austria Ireland India Brazil China Australia Singapore Taiwan, China Israel Portugal

12 G300 - Number of Coops By Country USA Singapore Korea Australia Brazil India Denmark Belgium Ireland Norway New Zealand Spain Sweden Switzerland Canada Finland UK Japan Netherlands Italy Germany France International Co-operative Alliance 12 Taiwan, China Portugal China Austria Israel

13 16% 14% 12% 10% 8% 6% 4% 2% 0% 14% 14% 10% 10% 8% 7% 7% % Of Turnover : GDP 6% 5% 5% 4% 3% 3% 3% 2% 2% 2% 2% 2% 2% 2% 1% 1% India Taiwan, China Germany Korea Norway Japan Ireland Italy Belgium Spain Canada Austria Singapore UK USA Israel International Co-operative Alliance 13 Sweden Denmark Finland Switzerland Netherlands France New Zealand

14 45.0% Banking Sector By Country 16% of G % 35.0% 39.8% 30.0% 25.0% 20.0% 15.0% 17.6% 10.0% 5.0% 0.0% 9.4% 8.5% 5.6% 5.4% 5.3% 3.5% 1.8% 1. 0 % France Korea Netherlands Japan Canada USA Germany Austria UK Finland International Co-operative Alliance 14

15 Banks Top20 # Name Country Turnover % Assets Rating Inc Tax (ROE) 1 Crédit Agricole Group France 30, % 1,385,635 AA- 2,918 15,8% 2 National Agricultural Cooperative Federation Korea 24, % 199,783 A % 3 Groupe Caisse D'Epargne France 12, % 703,423 AA 462 9,3% 4 Confédération Nationale du Crédit Mutuel France 11, % 516,664 AA- 1,195 13,7% 5 Rabobank Group Netherland 11, % 599,356 AAA 709 9,1% 6 The Norinchukin Bank Japan 10, % 577,945 A+ 504 n/a 7 Groupe Banques Populaires France 9, % 341,819 AA- 1,012 n/a 8 Desjardins Group Canada 7, % 101,699 AA ,5% 9 RZB Austria 5, % 111,130 A ,5% 10 DZ Bank Group Germany 5, % 475,508 A ,8% 11 SNS REAAL Netherland 4, % 80,613 n/a ,1% 12 Community Credit Cooperative (CC) Korea 3, % 51,835 n/a 119 n/a 13 WGZ Bank Germany 3, % 87,120 A2 53 n/a 14 Nationwide Building Society UK 2, % 212,973 A ,53% 15 Shinkin Central Bank Japan 2, % 249,895 A+ 198 n/a 16 AgriBank, FCB USA 2, % 45,912 n/a 20 8,3% 17 OP Bank Group Finland 1, % 62,513 AA ,2% 18 Cobank USA 1, % 33,835 n/a n/a n/a 19 Taiwan Co-operative Bank Taiwan, Ch 1, % 59,889 BBB+ 5 5,28% 20 Swiss Union of Raiffeisen Banks Switzerlan 1, % 82,131 Aa ,8% Total Top ,313 96% 5,979,678 9,115 Total Sector 161,136 6,082,107 9,126 International Co-operative Alliance 15

16 CSR methodology from principles to practice Development of draft measure of Corporate (Co-operative) Social Responsibility Reviewed existing CSR criteria CSR and annual reports The co-operative difference International Co-operative Alliance 16

17 CSR some reflections CSR is increasingly being embraced by our corporate competitors Co-op principles in particular the ICA s Statement of Co-operative Identity are the basis of most co-op operation throughout the world Co-ops driven by their values have in many ways been pioneers of socially responsible business However, the movement has not done all it could in measuring the co-operative difference It has allowed others to claim credit for inventing CSR International Co-operative Alliance 17

18 ICA s Global 300 (draft) CSR approach We are attempting to developed a measure which incorporates the best aspects of mainstream CSR reporting while taking account of the co-op difference International Co-operative Alliance 18

19 International Co-operative Alliance 19

20 Developing 300 Why create the list? Will contribute a development perspective to the Global 300 project Look at the role of large co-operatives in thirty economies Contribute to our knowledge about co-ops in the developing world where many of members operate International Co-operative Alliance 20

21 Developing methodology Will rank co-operatives in terms of their of their relative importance in national economies Initially, rank by revenue Will highlight top 5 in each country Work with regional offices, national members and national governments to help collect data Provide evidence base to support co-operative development International Co-operative Alliance 21

22 Developing countries Americas Argentina, Bolivia, Colombia, Costa Rica, Haiti, Honduras, Mexico, Paraguay Asia - Cambodia, Indonesia, Malaysia, Mongolia, Nepal, Pakistan, Phillippines, Sri Lanka, Thailand, Vietnam Africa Cape Verde, Egypt, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, Rwanda, Senegal, South Africa, Tanzania, Uganda International Co-operative Alliance 22

23 Global National 100 Use Global 300 methodology to help towards the creation of national lists So far.. USA The UK recently published their UK 100 Netherlands has issued a provisional NL 100 France have released their first French 100 plus wider movement report Other countries/sectors actively moving towards similar lists: Canada Singapore Australia South Africa Malaysia Nigeria Colombia Sri Lanka India New Zealand, plus sectoral organisations ICMIF ICBA Work started on mapping existing databases and methodologies to create a global co-operative database International Co-operative Alliance 23

24 Global 300 programme part of the movement towards an evidence based approach With better data comes greater (self) knowledge, more relevance and ultimately more public authority and profile for the co-operative movement International Co-operative Alliance 24

25 Thank you Garry Cronan International Co-operative Alliance 25