On December 18, 2009, the UN General Assembly declared 2012 to be the International Year of Cooperatives. The recognition has celebrated how cooperative organizations have aided in socioeconomic growth all around the world. On October 31, 2011, it made its formal debut under the slogan "Cooperative Enterprises Build a Better World." The International Co-operative Alliance summit in November 2011 was held to commemorate the designation, and Ban Ki-Moon, secretary-general of the United Nations, was invited to speak.
Since cooperative businesses are owned by the members they represent, choices made in their best interests as well as those of the members and their communities are made. The UN acknowledged that cooperatives, in all of its forms, support social and economic development and aid in the eradication of poverty.
International Year of Cooperatives focused on boosting the growth and establishment of cooperatives worldwide
International Year of Cooperatives (IYC) concentrated on fostering the emergence and development of cooperatives all over the world. It also prompted people to acknowledge how cooperatives play a part in achieving a number of objectives like lowering poverty, enhancing healthcare and education, and protecting the environment. To promote the year, a number of events were held, including conferences, photo exhibits, and website launches.
The motto for the International Year of Cooperatives, "Cooperative Enterprises Build a Better World," served as the inspiration for the logo. Together, the figures in the logo are lifting and supporting a cube. The cube stands for the numerous initiatives, targets, and aspirations upon which cooperative firms are based as well as the potential for success.