As a new global era takes shape, multilateralism is under strain, even as global cooperation continues to deliver in some key areas. The world has seen continued fragmentation, as trade barriers have escalated, levels of mistrust have remained high and geopolitical tensions have been an ever- present overhang. Conflicts have intensified across several regions and forced displacement reached record levels.2 In this sobering context, the Global Cooperation Barometer’s measurement of overall cooperation has held steady (Figure 2). While stress to the global cooperative system may not be surprising, the resilience of overall cooperation may be. Although cooperation tied to global multilateralism (which relies on common goals and actions often advanced through international institutions) has largely declined, cooperation through alternative, often flexible and purpose-built coalitions has continued. Most notably, cooperation among smaller groups of countries has persisted as economies continue to find value in working with each other through pragmatic, agile, interest- based partnerships.3 This dynamic is often dubbed “minilateralism” or sometimes “plurilateralism”.4 The result is that cooperation is far from dead. In tracking 41 individual metrics, the barometer shows how cooperation is adapting to a new context. Most cooperation metrics remain above their 2019 levels, and all pillars except peace and security show strong positive momentum in at least some areas. Evidence signals these trends have persisted through 2025. Looking more closely, the barometer shows increasing levels of cooperation for the innovation and technology and climate and natural capital pillars (Figure 3), often in areas where domestic interest or economic incentives are converging with global goals. In the case of innovation and technology, cross-border data flows and digital services fuelled collaboration as countries race to expand their capabilities for a new era of technology-driven economies; while in climate and natural capital, advancements in financing and global trade enabled more clean power and electric transport, especially in places where goals of emissions reduction, increased affordability and increased energy security converged. The trade and capital pillar shows a flattening of cooperation; while it remains above the 2019 level, with momentum in services and capital flows, goods trade has been hit by protectionist headwinds. Still, it is notable that trade is not meaningfully retreating but rather reconfiguring across different partners. The flattening of cooperation in health and wellness also encompasses distinct dynamics. Most health outcomes stand above pre-COVID-19 pandemic (hereafter referred to as “the pandemic”) levels. However, these outcomes are a function of long-run developments, which could reverse in the future. Pressure on multilateral organizations has eroded development assistance, materially increasing the load on domestic budgets and creating challenges for the future of health in the most vulnerable places. The peace and security pillar stands out as experiencing the greatest decline, as every metric is below pre-pandemic levels. This pillar exhibits sharp deterioration, as global tensions escalate and multilateral mechanisms are not addressing conflicts. Introduction: The evolution of global cooperation With global multilateral cooperation confronting challenges, smaller and more adaptive cooperative coalitions are emerging. Cooperation among smaller groups of countries has persisted as economies continue to find value in working with each other through pragmatic, interest-based partnerships. The Global Cooperation Barometer 2026 7