August 29, 2023
New NTT Survey: Social Sustainability Boosts Enterprise Revenue an Average of $710 Million
NTT provides actionable insights for executives seeking benefits experienced by social sustainability leaders
Tokyo – August 29, 2023 – Large enterprises investing in social sustainability see an average increase in revenue of $710 million according to a new study commissioned by NTT Corporation (President and CEO: Akira Shimada, “NTT”). The study, conducted in collaboration with ThoughtLab, also reveals that leading firms in social sustainability see an 11.4% increase in employee productivity and unlock approximately $675 billion in gross domestic product (GDP) across eight countries and five industries.
The published report, The Business Case for Social Sustainability, provides a roadmap designed to help businesses maximize the value of their social sustainability investments.
The international survey comprised 250 senior executives from global organizations earning over $1 billion in revenue. The organizations were divided into three categories (Beginner/Intermediate /Advanced) based on an analytical framework that measured progress against 10 key initiatives in social sustainability. Key survey findings include:
- 40% of companies integrate social sustainability goals and enforce supplier compliance.
- All categories of companies report an average 8% revenue increase and 10% productivity increase from social sustainability initiatives.
- Advanced social sustainability leaders experience nearly a 10% revenue increase.
- Over 50% of social sustainability leaders expect increased revenue and profitability in the next two years.
- 62% of companies plan to increase social sustainability spending by an average of 6%.
“Now more than ever, businesses are hearing demands from across the value chain for forward-thinking, inclusive and socially impactful operations,” said NTT’s Kaoru Asakura, vice president, head of Sustainability Office, Corporate Strategy Planning Department. “This study proves that investment in social sustainability is in the interest of both businesses and the broader society. This is why NTT has set its mid-term strategy with a focus on Innovating a Sustainable Future for People and the Planet.”
“At NTT Ltd. we enable the connected future realized through a digital economy. Connectivity, however, is not enough. There are choices we can make as a purpose-driven business to amplify our positive impact on the world, specifically the planet, our economy and communities we operate within.” says Vicky Bullivant, senior vice president, sustainability at NTT Ltd.
Building a Socially Sustainable Enterprise
Social sustainability investment builds trust in companies’ brands and improves credibility. The most successful companies surveyed spent around $20 million on their social sustainability initiatives in the last year, tracking success from procurement to investment decision making.
Based on survey findings, NTT and ThoughtLab created a framework of actions, with additional details in the report, for organizations wanting to improve social sustainability efforts, including:
- Understand and communicate the business case for social sustainability.
- Build the foundation for social sustainability excellence.
- Extend social sustainability across the supply chain.
- Build partnerships to deliver on common goals and multiply results.
- Harness digital technologies to drive sustainability results.
Role of Technology Across Industries
The survey also found that business leaders in social sustainability employ more technologies than less advanced firms across a range of uses. Additionally, leading enterprises are more widely adopting advanced technologies, such as the cloud, smart sensors, advanced analytics for hazards and diversity, enterprise resource planning (ERP) and artificial intelligence (AI).
The survey aligns with NTT's Innovation for a Sustainable Future program which showcases the positive impact of technology, digital transformation, and R&D in achieving sustainability and social benefits. The program aims to empower organizations of all sizes to contribute to long-term sustainability for nature, wellbeing and prosperity.
For more information about NTT and sustainability, please visit: https://www.global.ntt/sustainability/index.html.
NTT contributes to a sustainable society through the power of innovation. We are a leading global technology company providing services to consumers and business as a mobile operator, infrastructure, networks, applications and consulting provider. Our offerings include digital business consulting, managed application services, workplace and cloud solutions, data center and edge computing—all supported by our deep global industry expertise. We have over $100 billion in revenue and 330,000 employees, with $3.6 billion in annual R&D investments. Our operations span across 80+ countries and regions, allowing us to serve clients in over 190 of them. We serve over 75% of Fortune Global 100 companies, thousands of other enterprise and government clients and millions of consumers.
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