July 7 – International Day of Cooperatives: Celebrating Cooperative Enterprises and Their Contributions to Sustainable Development
Each year on July 7, the world observes the International Day of Cooperatives, a day dedicated to highlighting the vital role of cooperative enterprises in advancing sustainable development, economic growth, and social equity. Established by the United Nations in 1995, this annual event raises awareness of how cooperatives help build resilient communities and inclusive economies around the globe.
The theme for this year’s International Day of Cooperatives is “Rebuild Better Together”, underscoring the crucial role cooperatives play in supporting communities during times of crisis and in fostering a future rooted in resilience and inclusivity.
What Are Cooperatives?
Cooperatives, or co-ops, are member-owned and democratically controlled organizations that exist to meet the shared needs and aspirations of their members. Unlike traditional businesses that focus primarily on profit, cooperatives prioritize the well-being of their members and the development of their communities.
Cooperatives are guided by core principles, including voluntary and open membership, democratic member control, member economic participation, autonomy, education, cooperation among cooperatives, and concern for community. These values promote equality, self-help, solidarity, and social responsibility.
There are many types of cooperatives, including:
- Agricultural cooperatives: Farmers collaborate to improve production and access to markets.
- Credit unions: Member-owned financial institutions providing banking and loan services.
- Worker cooperatives: Businesses owned and managed by their employees.
- Consumer cooperatives: Retail or service organizations owned by the consumers they serve.
The History of the International Day of Cooperatives
The concept of an international day to celebrate cooperatives was first introduced by the International Cooperative Alliance (ICA) in 1923. However, it was not until decades later that the United Nations officially recognized the initiative.
In 1992, the ICA received formal acknowledgment from the UN, and in 1995, the UN General Assembly declared