Commentary
2023 in Focus
More people use cooperatives to build a more inclusive economy; co-ops are the right vehicle for this work because they are values-driven businesses. In 2023, the focus is on how—because of our shared values—we have an opportunity to innovate in ways not truly available to other types of entities.
Our values make clear that co-ops fully consider multiple stakeholders, including people as individuals, cooperative members, and the broader community. We do not see our work as a zero-sum game; rather, co-ops are vehicles for economic and societal transformation that truly consider a broader set of stakeholders.
The key for cooperators in 2023 is how to innovate around these dynamics while remaining rooted in the values. What could this look like? Here are a few examples:
Cooperatives and Platforms
As technology and data use continue to evolve in ways that more deeply infiltrate our lives, cooperative leaders can pursue strategies that look to the cooperative identity for ways to organize businesses that benefit members and the community within the platform economy.
Cooperatives and Financial Well-Being for all
Cooperative community is focused on bringing financial well-being to all. Cooperatives should ensure that everyone has access to reliable, affordable financial services and more people have access to the latest financial technology tools. By tuning in to their members’ needs, creating strategies, and acting on those strategies, these member-owned community financial institutions live out the cooperative values of self-help, equity and solidarity.
Cooperatives and Climate
As more people are looking to mitigate the impacts of climate change, households and businesses need to work together to make the greatest impact and to ensure that local communities have control and capture the benefits of innovation. Cooperatives are the perfect vehicle—whether through established corporate social initiatives or supporting the national tree-planting culture to be launched by the national government.
To move the needle on climate and financial well-being for all—or any of the other challenges we face—households and businesses will need intermediaries that are sophisticated and trusted and put communities at the center of their strategies. Co-ops are the perfect vehicle for this type of innovation. From climate-smart agriculture to more affordable access to critical financial services, cooperatives continue to provide answers to major global challenges. Coupled with innovation, co-ops are poised to transform the way we do business and build communities—but only if we stay true to our identity and rooted in our values—this abridged New Year statement by Doug O’Brien, president and CEO of NCBA CLUSA, USA.
