The term “twin transition” refers to the parallel and interconnected processes of digital transition and sustainable transition. 

Let’s break down the key points and understand why this twin transition is considered the key to sustainable growth:

  1. Digitalization and Sustainable Growth: The twin transition emphasizes the integration of digital solutions with sustainability efforts. Digitalization is seen as a powerful tool to drive sustainable growth. By leveraging technology, organizations can not only enhance their efficiency and competitiveness but also contribute to environmental sustainability.
  2. Reducing Global Emissions: The mention of a potential 20% reduction in global emissions through digital solutions, as per the World Economic Forum, underscores the environmental benefits of incorporating technology into sustainable practices. This suggests that digital innovations can lead to more eco-friendly processes and systems.
  3. Greening Technology, Data Assets, and Infrastructures: The idea is to make technological advancements more environmentally friendly. This involves ensuring that the development and use of technology are aligned with sustainability goals. It encompasses not only the end product but also the entire lifecycle, including manufacturing processes and energy consumption.
  4. Twin Transition Roadmap: Organizations are encouraged to follow a well-defined roadmap that aligns digital and sustainable strategies. This ensures that advancements in technology go hand in hand with efforts to reduce environmental impact. The roadmap likely involves specific steps and milestones for both digital and sustainable initiatives.
  5. Regional Initiatives: The mention of the Marche Region’s call for “SUSTAINABLE AND DIGITAL PRODUCT INNOVATION” indicates a regional commitment to fostering the twin transition. By supporting micro, small, and medium-sized enterprises (SMEs), the region aims to promote innovation and diversification projects that incorporate both digital and sustainable elements.
  6. Circular Economy and Sustainable Development: The call specifically focuses on projects aimed at introducing innovative solutions based on the twin transition, with a particular emphasis on circular economy principles. This suggests a commitment to creating products and services that are not only digitally advanced but also contribute positively to sustainable development.
  7. European Commission Approval: The regional initiative aligns with broader European Commission objectives, as evidenced by the reference to the approval of the “Marche Regional Program FESR 2021-2027.” This suggests that the twin transition is not just a localized effort but is part of a larger framework supported at the European level.

The sweet spot in twin transition where digital amplifies sustainability Image: Royal Schiphol Group and PA Consulting

In summary, the twin transition represents a strategic approach to addressing both digital and sustainability challenges in a coordinated manner. By integrating these transitions, organizations and regions aim to achieve not only economic growth and competitiveness but also contribute to environmental conservation and responsible resource use.

SOURCES

>> Marche Regione PR FESR 2021/2027 – NOTICE “SUSTAINABLE AND DIGITAL PRODUCT INNOVATION” – Support for product or service innovation and diversification projects in the areas of the regional strategy for smart specialization 2021-2027

>> World economic Forum – What is the ‘twin transition’ – and why is it key to sustainable growth?