Addressing climate change the Nordic way: Motives of Swedish companies for taking action

It is Sweden’s goal to become one of the world’s first fossil fuel free welfare states, and many Swedish companies are voluntarily working to reduce their climate impact. The reasons for this are manifold; they primarily involve risk management, a sense of responsibility, management of reputation, and addressing the demands of various stakeholders, many of which are increasingly expressing concerns. Even though taking action often involves significant costs, some businesses have suggested that action is taken because of the high environmental awareness amongst the Swedish public, favorable conditions for taking climate action (such as high availability of renewable energy), and good cooperation between the state and non-state actors—factors which are arguably present in the other Nordic countries. While effective climate action still requires both states and non-state actors to show leadership and focus on speeding up implementation, Nordic companies have the potential to also be a driver for change abroad.