New NTT Global Survey releases results of global corporate sustainability

NTT released the results of a global corporate sustainability survey made to identify the most effective business practices to advance sustainability goals. In a report titled, “Innovating for a Sustainable Future”, NTT, in partnership with ThoughLab, discovered that 44 per cent of companies experience improved profitability as a result of sustainability.

This indicates that sustainability programs are now an ethical and business imperative to drive positive change and deliver better financial results. Additionally, 69 per cent of global executives agree that digital innovation is key to achieving sustainability goals across environmental, social and economic areas.

The publishing of the study coincides with the launch of NTT’s Innovation for a Sustainable Future program. Designed to showcase the positive impact of technology, digital transformation and R&D to deliver sustainability and social benefits, the program outlines the intersection of technology innovation and the need for long term sustainability. As part of the program, NTT will provide organizations with information and resources to implement sustainability practices through strategic technology investments and innovation. The goal is for organizations of all sizes to contribute to long-term sustainability that positively impacts people, the planet and prosperity.

NTT Highlights

The global study of 500 companies analysis how firms incorporate sustainability into their business strategies and the outcomes they are experiencing. The survey finds that more organizations are taking sustainability practices seriously. Of the organizations surveyed, 68 per cent report that building a sustainable future is a top priority. And 47 per cent stated that the pandemic elevated the importance of sustainability goals.

Among the top benefits as a result of sustainability initiatives, 33 per cent of organizations experience decreased costs through improved efficiencies, 32 per cent experience greater innovation and new business models and 24 per cent experience increased revenue growth. Only 12 per cent of organizations worldwide indicate that sustainability is mostly “lip service” and nearly four out of ten companies state that customers, employees, shareholders and communities expect them to drive positive change.

“As the global population refocuses its attention on the health and wellbeing of people and the planet, we have seen a renewed commitment from organizations 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.”

The report defines “sustainable development” by 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.

As part of the survey, NTT and ThoughtLab grouped companies into three maturity categories (beginners, intermediates and advanced/leaders) based on their progress within a framework of 10 initiatives for driving sustainable innovation, including developing a vision, strategy, implementation plan and budget; develop an effective organizational structure, skills and resources and communicate goals to all stakeholders like investors, customers and employees.

They plus want to set, track and report metrics for sustainability performance; drive supply chain efficiency and operational innovation; lead product and service innovation; embrace business model innovation; harness advanced digital technology; integrate sustainability goals and metrics into investment decisions and utilize a commonly used measurement framework (such as GRI, SASB or TCFD).

Looking exclusively at the achievements of leaders, NTT has outlined a set of best practices based on the analysis of the study to help organizations achieve their sustainability goals. These best practices include:

1. Build the foundation for sustainability excellence. Set a clear sustainability vision, strategy and organizational 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 organizations and NGOs to industry and consumer groups.

NTT’s Innovation for a Sustainable Future program follows the NTT’s August 2021 launch of a worldwide initiative calling on stakeholders to rethink the importance of health and wellbeing. In collaboration with business divisions NTT DATA, NTT Ltd., NTT Research and NTT Disruption, the initiative offers ideas and resources designed to help governments, communities and organizations reexamine their approach to personal health, mental health and social health, worker wellness and equitable access to support a more sustainable future.