Released on October 17th under the title “Social Development in Times of Converging Crises: A Call for Global Action”, the report is the output of the global call by the GA resolution 77/281 in April 2023 to promote the social and solidarity economy for sustainable development.
Overall, the report estimates that the economic cost of crisis mitigation from 2020 until 2030 will translate into “a cumulative output loss of over $50 trillion”, to the detriment of social development. It is a global plea to prioritise people and the planet over profit, and for public-private social investments to be at the same level as their economic counterparts.
Concerning the social and solidarity economy, it specifically praises cooperatives’ self-organisation capacity and resilience as a necessary and inclusive countermeasure to the current economic power imbalances, which affect the social rights of the most vulnerable.
Among its national and international recommendations, the report calls for capacity-building development programs, a social-printed fiscal space, and a rework of national policies and strategies for social development to ensure the resilience of all stakeholders who benefit from and contribute to the global social ecosystem.
Read the rest at Cooperatives Europe
Add new comment