NTT: Social sustainability boosts revenue by ~$710m
A new study commissioned by NTT Corporation and ThoughtLab found that large enterprises investing in social sustainability see an average revenue increase of US$710mn.
Additionally, firms that prioritise social sustainability reported an 11.4% increase in employee productivity, which unlocked ~US$675bn in gross domestic product (GDP).
How social sustainability benefits businesses
The report, entitled The Business Case for Social Sustainability, featured an international survey, consisting of 250 senior executives from organisations that earn over US$1bn in revenue.
Depending on their key social sustainability frameworks, these organisations were categorised as either beginner, intermediate or advanced. All categories reported a productivity increase of 10%, with a revenue increase of 8% – or 10% for organisations that had advanced social sustainability leaders.
“Now more than ever, businesses are hearing demands from across the value chain for forward-thinking, inclusive and socially impactful operations,” said Kaoru Asakura, Vice President, Head of Sustainability Office, Corporate Strategy Planning Department at NTT. “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.”
Additionally, the survey shared that businesses that heighten social responsibility – especially those considered advanced – utilise a greater variety of technologies compared to those that are less advanced counterparts.
These leading companies are embracing cutting-edge technologies, such as cloud computing, smart sensors, advanced hazard and diversity analytics, enterprise resource planning (ERP) and artificial intelligence (AI).
What’s more, more than half of social sustainability leaders shared that they expect to see an increase in revenue and profitability within the next two years, with 62% of companies planning to increase social sustainability spending by an average of 6%.
*************************************************
For more insights into Sustainability - check out the latest edition of Sustainability Magazine and be sure to follow us on LinkedIn & Twitter
Other magazines that may be of interest - EV Magazine | Energy Digital
Please also check out our upcoming event - Sustainability LIVE in London at the BDC on Sept 6/7th 2023
*********************************************
BizClik is a global provider of B2B digital media platforms that cover 'Executive Communities' for CEO's, CFO's, CMO's, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.
BizClik, based in London, Dubai & New York offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.
