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SUSTAINABILITY IS IMPROVING THE BOTTOM LINE FOR 44 % OF ORGANISATIONS
NTT has published the results of a global corporate sustainability survey designed to identify the most effective business practices to advance sustainability goals .
In a report titled , Innovating for a Sustainable Future , NTT , in partnership with ThoughtLab , found that 44 % of companies experience improved profitability as a result of sustainability .
This indicates that sustainability programmes are now both an ethical and a business imperative to drive positive change and deliver better financial results . Additionally , 69 % of global executives agree that digital innovation is key to achieving sustainability goals across environmental , social and economic areas .
Study highlights
The global study of 500 companies examines how firms incorporate sustainability into their business strategies and the outcomes they are experiencing . Key highlights include :
• The survey finds that now more than ever , organisations are taking sustainability practices seriously . Of the organisations surveyed , 68 % report that building a sustainable future is a top priority for their boards .
• The pandemic proved to be a watershed moment for many organisations , with 47 % stating that the pandemic elevated the importance of sustainability goals .
• Among the top benefits as a result of sustainability initiatives , 33 % of organisations experience decreased costs through improved efficiencies , 32 % experience greater innovation and / or new business models and 24 % experience increased revenue growth .
• Only 12 % of organisations worldwide indicate that sustainability is mostly ‘ lip service ’ and nearly four out of 10 companies state that customers , employees , shareholders and communities expect them to drive positive change .
Looking exclusively at the achievements of leaders , NTT has outlined a set of best practices based on the analysis of the study to help organisations achieve their sustainability goals . These best practices include :
1 . Build the foundation for sustainability excellence . Set a clear sustainability vision , strategy and organisational structure ; monitor performance against sustainability metrics ; and incorporate sustainability deep into the business .
2 . Harness digital innovation to drive sustainability results . For leaders , sustainability and digital innovation are two sides of the same coin . Leaders draw more on digital technologies – particularly the cloud , AI and IoT – and understand that the best results come from interconnecting them .
3 . Build partnerships that work together to deliver on common sustainability goals . Leaders not only work more closely with supply chains ; they also develop ties with a wider range of partners , from multilateral organisations and NGOs to industry and consumer groups .
“ As the global population refocuses its attention on the health and wellbeing of people and the planet , we have seen a renewed commitment from organisations to implement and advance sustainable business practices ,” said Vito Mabrucco , Head of Global Marketing at NTT . “ At the same time , the health of people versus the health of profits is not an either-or-decision ; sustainability and profitability are becoming mutually reliant .” x
The report defines ‘ sustainable development ’ in accordance with the United Nations ’ 17 Sustainable Development Goals ( SDGs ), a blueprint for creating a more sustainable future by 2030 .
NTT has aligned its business objectives with these SDGs , which cover three key categories : social good , environment , and economic growth and development .
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