Digital Transformation and Convergence toward the 2030 Agenda’s Sustainability Development Goals: Evidence from Italian Listed Firms

The United Nations 2030 Agenda has emphasized the potential of digital technology to
enhance sustainability performance, assuming that digital transformation can enable firms’ convergence
toward the Sustainable Development Goals. Despite this, the literature is unclear regarding
whether there is a positive relationship between digitalization and sustainability, as the effects of
digital transformation are controversial. The main goal of this study was to assess the hypothesis
that digital technology contributes to the achievement of Sustainable Development Goals within the
UN 2030 Agenda. To test this hypothesis, a textual analysis was performed to assess Italian firms’
digitalization efforts; the obtained results were then related to the selected firms’ ESG scores using
a regression analysis. The analysis focused on Italian FTSE MIB listed firms for the period 2016–2019.
The findings show a positive relation between digitalization and Sustainable Development Goals,
highlighting the relevance of digital technology in implementing the sustainability agenda.