Sustainability
influence, through the goods and services bought from partners and suppliers. Tis way progress can be made without being negatively impacted by partners who may not be prioritising this at that time. In the longer term, a better understanding of and alignment with
an organisation’s global partner network and the supply chain will be essential for achieving climate goals. However, this is a challenge at the best of times – it’s like piecing together a jigsaw puzzle where parts of the puzzle are either missing, or they just don’t fit. For that to happen, stakeholder engagement and a commitment to an open, transparent dialogue is important. Tat will clarify stakeholder requirements, priorities, plans and foster working groups that enable data sharing mechanisms.
Tinking about both profit and purpose, why is it essential for businesses to make the right decisions now to reap the benefits later down the line? Sustainability is a journey of change. Enterprises that delay prioritising sustainability or are tentative about investing, will find it much harder to engender cultural, process and operational change within their business and with their partner ecosystem. Tere is no silver bullet and the journey will get tougher for enterprises that wait longer. By the time they get off the blocks, achieve momentum and maturity, they will be outcompeted in the market by those that did not wait. Te good news is that profit and purpose are increasingly
being seen as congruent and complementary. Enterprises are starting to realise that embracing sustainability and making ethical choices now is not only the right thing to do, but also highly likely to positively impact finances and address stakeholder asks about purpose. Te definition of stakeholders is much broader – including but not limited to clients, employees, shareholders, institutional investors, business partners, governments, and regulators – and they are more effective at holding enterprises accountable than ever before.
Why is being purpose-led as much of a priority for organisations as hiring and retaining talent, digitalisation, and perfecting the customer experience? Te events of the past two years have shaken up the market for talent. With record numbers of job vacancies helping to fuel the ‘Great Resignation’ (the post- Covid wave of people leaving their jobs) and the emergence of ‘quiet quitting’ (not outright quitting, but quitting the idea of going above and beyond), the workforce is firmly in the driving seat. More than ever, employees are looking for purpose in their work and are able to demand change within their organisations. Various surveys have found that environmentally sustainable, socially responsible, and purpose- led companies are considered more attractive by prospective employees.
www.pcr-online.biz May 2023 | 25 Consumer expectations are also evolving. Over the last few
years, consumers have been demanding more and more from the businesses that they engage and spend with, both in terms of the service being provided, and their purpose beyond profits. In particular, consumers’ engagement with climate change and sustainability has dramatically accelerated since the pandemic. Whether it is the extreme global weather events or climate activists making headlines and raising awareness, consumers are becoming increasingly conscious of the topic, and allowing it to impact their purchasing choices. As a consequence, organisations are increasing their focus on
becoming purpose-led as this is rapidly becoming synonymous with both retaining and attracting talent as well as business with customers.
Can you tell us more about NTT’s sustainability offerings and services? NTT has significantly strengthened its investment in sustainability offerings to help empower businesses. This began with the launch of IoT services for sustainability in May. This is an end-to-end stack of solutions aimed at helping businesses advance their global sustainability initiatives and make data- driven decisions to reduce their carbon footprint through the intelligent use of IoT connectivity. We also recently launched Sustainability as a Service, a full-
stack net zero action offering and NTT’s first climate solution that aims to reduce the environmental impact of business activities including helping enterprises achieve net-zero goals and make data-driven decisions to reduce their carbon footprint. This solution is an ‘industry-first’ and comes at a time when enterprises are looking for effective ways to make progress on their commitments to achieving net-zero goals.
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