Every year, the International Co-operative Day / International Day of Co-operatives is observed on the first Saturday of July. The International Co-operative Day 2020 falls on July 4. This main aim of this day is to create awareness about co-operatives and promote movement's successes and ideals of solidarity, economic efficiency, world peace and equality.

On December 16, 1992, the United Nations General Assembly (UNGA) proclaimed "the first Saturday of July 1995 to be International Day of Cooperatives, marking the centenary of the establishment of the International Cooperative Alliance." Since 1995, the UN's International Day of Co-operatives is celebrated alongside International Co-operative Day.

The theme for this year's celebrations is Cooperatives For Climate Action. This theme was chosen to address the threat of greenhouse gas emissions, which is more than 50 percent higher than it was in 1990 and global warming.

The main aim of this day is to spread awareness about cooperatives. The event "underscores the contributions of the cooperative movement to resolving the major problems addressed by the United Nations and to strengthening and extending the partnerships between the international cooperative movement and other actors," according to the UN.

(The above story first appeared on LatestLY on Jul 04, 2020 08:15 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).