Sweden’s green transition has not been free of bumps, however. Its solar installation sector saw 160 bankruptcies in 2025. ‘Swedish Tesla’ Northvolt, the country’s flagship battery manufacturer, filed the same year.ii  

These events have been set against a global background of geopolitical and economic instability, energy insecurity and a re-emergence of populist short-termism. They have certainly shaken Sweden, with some investment decisions on hold until the fog clears.  

But they haven’t knocked the country off its green perch. The commitment to clean energy continues: Hydrogen-fueled Hybrit, and Stegra are amongst the world’s most ambitious carbon-free steel production plants.  

Green manufacturing doesn’t just have transformative potential in steel production, but in automotive, machinery and precision equipment, pulp and paper and processed foods. Given the vulnerability of long supply chains, rising costs abroad, spiraling energy prices, and an ascending ability to produce locally at competitive cost, the green transition is supporting efforts to rebuild capacity closer to home. Pulling production from low-cost countries back to Scandinavian shores.  

CapEx‑heavy tech developments are just the beginning 

The mindset must permeate every part of the organization; a culture that asks: how do we take it from here? When a CEO makes this a core management tool - when finance works with engineering, production, and R&D - you reach the next level. But boards are not yet tuned in. Only a few treat decarbonization as a management system, rather than a technology issue.  

Combining diverse profiles accelerates change. 

To make the shift, different types of companies can learn from each other. Decarbonization has created a rich ecosystem of startups, generating new talent pools for larger organizations. That is, if they are open-minded to difference. We help by blending management teams: executives from process‑oriented global corporations bring stakeholder management expertise; leaders from more nimble organizations bring speed and adaptability. Introducing incomers from more agile zones in the ecosystem is a powerful way to refresh the C-suites of legacy organizations.  

NEDs and CXOs with cross‑industry experience are more broadminded than those with vertical backgrounds, who may struggle with external perspectives and understanding what change really means for their company. We support them actively, showing how models from other industries apply to theirs. Demonstrating where their business model is heading - and how someone with relevant experience can help - is one of the most important contributions an executive search consultant can make. 

How do you build a management team and culture that support decarbonization? Boards who understand this as the next frontier will be well-positioned for the next, green, chapter.