A Review of the Literature on the Double Transition and the Impact on Business Performance

Abstract

The digital and sustainable transitions have become a priority at the European Union level, a concept referred to as the “twin transition”. This paper aims to analyze the relationship between the dual transition and business performance. To achieve this objective, a review of the specialized literature was conducted, covering scientific articles published over the past five years. The results reveal a complex relationship between the dual transition and performance, a relationship characterized by digital and sustainable components. Both digital transformation and sustainable transformation improve business performance. Our findings highlight the dual transition as an indispensable strategic factor that generates added value. We also note that the literature tends to focus more on bibliographic analyses, while research that directly addresses business performance is relatively limited. We conclude by stating that further empirical research is needed to quantify the synergies between the two components of the dual transition: digitalization and sustainability. CZU: [502.131.1:005.332.1:004]:001.891; JEL: M21, O31, O33, Q55, Q56