The Link, April 2022

Swedish business turning the uk greener Nine companies helping the UK reach net zero

a SAFER ride towards electrified roads How Nefab is handling dangerous goods from broken electric vehilces

LINK Dedicated to the Swedish-British business community since 1906

“A mentally healthy team equals an efficient team.” Dr. Siobhan Jones, Lead Psychologist & Consultant Clinical Psychologist at Mindler

No.360

GETTING RID OF THE GAS without losing heat Swedish business helping UK homes adjust to the gas boiler ban

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ABOUT

The Swedish Chamber of Commerce for the United Kingdom is the ultimate business platform for Swedish and UK businesses. We help businesses establish, grow and develop, through our wide range of business services, matchmaking, events and programmes. We represent some 400 businesses, from start-ups, to SMEs, unicorns and large multinational corporations, from across all sectors and industries. Founded in 1906 – by business and for business – we have connected the Swedish-British business community for over a century. Join us today, if you haven’t already.

SCC PATRONS

THE LINK ISSUE 360

Editors: Jonas Eklund, Mathilda Kennett, Saga Palmér Cover: Siobhan Jones, Lead Psychologist & Consultant Clinical Psychologist at Mindler Photo: Radek Dranikowski

LinkedIn: Swedish Chamber of Commerce for the UK Twitter: @SwedishChamber Instagram: @sccuk

NOT A MEMBER YET? Visit www.scc.org.uk or contact us on +44 (0)20 7224 8001 / info@scc.org.uk

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DEAR MEMBER

Turning around business despite distinct lack of predictability What a difference two months can make. When I wrote my previous editorial, Russia hadn’t entered Ukraine and there wasn’t a war in Europe. We were waiting for the complete lifting of all pandemic-related restrictions. There have been a lot of ‘firsts’ in recent years, and we are all having to adapt rather quickly to not knowing what’s around the corner. There is a distinct lack of predictability, but speaking on behalf of business, it is still rather remarkable how businesses quickly adapt and turn around their operations based on the situation. In line with many of the imposed sanctions relating to the war in Ukraine, Swedish businesses have stopped operation partly or completely in Russia, and found other ways of supporting its business model. Everything has a cost though – not the least the impact on human lives in the region. The stress testing on societies, and businesses in recent years, with both Brexit, pandemic and now war in Europe, is intense. For us, with an archive of Link magazines and Anglo-Swedish Reviews dating back 116 years, it is interesting to read about how the business community tackled the challenges in previous periods of war, uncertainty and conflict. With pandemic restrictions finally lifted, we are also tackling with the return to the office. For two years now, we have gotten used to a

different way of working, and in some cases our work-life balance has improved, for some it may have deteriorated. Swedish startup Mindler setup in the UK in recent years, and talk in The Link at length about work-life balance, how to lead a healthy team and how to find that zen in your life. Another game changer in recent years is climate change, and the grave warning signs from the UN and other stakeholders. With all the other crisis around us, climate change requires our full attention, and the Swedish Chamber of Commerce is proud to welcome you all back to Impact 2022, hosted in London on 27 May, when we bring together a pool of decision makers, influencers and business leaders to discuss the greatest challenge of our lifetime, and how we can solve it together. A platform for discussion, best practice, and learning. Don’t miss this once in a lifetime event, with a long list of CEOs and decision makers in the line-up. We are particularly thrilled to be graced by the attendance of Their Majesties, the King and Queen of Sweden. They will also be the centre of attention for the following gala dinner in the evening, where we highlight the importance of the day and celebrate UK-Swedish relations. A friendship that goes deep.

have welcomed a long list of Swedish and Nordic start- and scale ups looking to expand to the UK through our many programmes and ecosystem exchanges. In the last two months we focused on greentech and fintech businesses, and in the autumn we will focus more on foodtech, medtech and gaming. Lots to get involved with! In this issue, we welcome our new patron Fogel & Partners as well as our newest members Alvarium, Clota Värde, Diversio, Flarie, Nara Communications, No.1 Wine and Spirits, NOR Capital, NTEX Limited, PAAM Systems, Senior IT Executive, The Coin Cabinet, Vinge and VX Fiber. We represent a fantastic membership, and a strong trading partnership. If you haven’t joined us already, I hope you will do so in 2022. We have an exciting agenda ahead, and would love to have you part of the journey. Do what 68 businesses did in 2021, join the SCC.

Peter Sandberg Chief Executive sandberg@scc.org.uk

Speaking of UK-Swedish relations, it has been an exciting start to the year, and we

SCC TEAM EVENTS AND PROGRAMMES

MEMBERSHIP AND COMMUNITY

Mathilda Börjesson, Head of department Martina Falkenberg, Sparbanksstiftelsen Finn Scholar Julia Jamison

Christoffer Waldemarsson, Manager Lovisa Engstrand, Membership and Community Executive Douglas Tönnberg

Business services MARKETING AND COMMUNICATIONS Jonas Eklund, Head of department Saga Palmér, Marketing Executive Mathilda Kennett, Fund for Swedish Youth Abroad Scholar

Anna Crona, Head of department Sara Rolén, Swedish Chamber of Commerce for the UK Scholar David Molin, Elof Hansson Foundation Scholar

Contact us Swedish Chamber of Commerce for the UK Sweden House, 5 Upper Montagu Street, London W1H 2AG +44 (0)20 7224 8001, info@scc.org.uk

We know the Nordics by heart. With more than 160 years of Nordic Private Banking experience, we understand the unique challenges you face as a Nordic national living abroad. That is why we offer financial services tailored to your international needs.

To find out more, please contact Helena Whitmore or Daniel Wikehult +44 (0) 20 7246 4225 privatebanking@seb.co.uk Skandinaviska Enskilda Banken AB (publ) (SEB), London Branch sebgroup.com/privatebanking This communication is made by Skandinaviska Enskilda Banken AB (publ), London Branch for informational purposes only. Our London Branch is available to introduce you to the SEB Private Banking network outside the United Kingdom. SEB London Branch is authorised and regulated by the Swedish Financial Supervisory Authority. Deemed authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.

CONTENTS THE LINK • ISSUE 360 • APRIL 2022

Meet Christan Coolsaet The Volvo Trucks CEO’s most important learnings from his many years in different markets.

PageS 37-38

Mastering your messages

Financial forecasting in A time of crisis

British Newsletter’s five steps for better email-marketing.

SEB:s Chief Economist about the state and condition of the global economy.

Page 19-20 Pages 13-14

SKANSKA AND SCC in green partnership

spotify and essity finding common ground

ECOSYSTEM EXCHANGE: GREENTECH

New collaboration addressing the urgency in building a resilient future.

A cross-industrial conversation on sustainability.

Meet the Nordic-Baltic businesses innovating the way to a better future.

PAGE 9

PAGEs 31-32

PAGE 21

IN THE LINK 83 YEARS AGO Today, as we are facing a dark moment in European history, it is more important than ever to remember our common history. When the September 1939 issue of the Link was published, World War II had just begun, and the Swedish neutrality was strictly underlined with the words of then PM Per-Albin Hansson: “Whatever happens Sweden’s line of action is clear – it is the line of clear and strict neutrality”.Today, the benefits of neutrality are being weighed against those of a NATO-membership. But many other things seem unchanged, although 83 years have passed, such as the close ties between Sweden and Finland.

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SWEDISH FOoTPRINT IN THE UK

 9

Swedish businesses TAKING ACTION TO HELP THE UK REACH NET ZERO The UK government has pledged to achieve net zero carbon emissions by 2050 – a target that demands collaboration across politics, academia, business and consumers to be feasible. Leveraging on decades of green innovation and experience, Swedish businesses are taking lead on reaching – and often surpassing – the targets. In this issue we present how nine Swedish businesses are turning their overarching sustainability targets into tangible climate action in the UK. BY: JONAS EKLUND

 2025

 2030

 2035

By 2025, all new UK homes will be banned from installing gas and oil boilers.

By 2030, the UK will increase its offshore wind capacity to 40GW – enough to power every home in the country.

The sale of new fossil fuel-operated cars and vans is ending by 2030. From 2035, all vehicles are required to be 100% zero emission.

ENVAC

HANDELSBANKEN

VOI

 -3.9m

10 million e-scooter rides have replaced 3.9m car trips in the UK.

 +30%

Recycling has gone up by 30% in Wembley Park since the introduction of Envac’s system.

 -46%

Since 2013, Handelsbanken has reduced its CO2 emissions by 46% in the UK.

 -2,000t

2,000 tonnes of CO2 have been saved by the rides in the UK.

 -90%

Emissions related to waste handling have decreased by 90% in Wembley Park.

 -91%

Handelsbanken reduced its paper usage by 91% in the UK between 2013-2020.

Micro-mobility startup and SCC member Voi introduced its e-scooters to the Brits when launching in Northampton in 2020. Two years later, Voi is present in 17 towns and cities across the country and recently celebrated 10 million rides in the UK. Since the launch, the e-scooter rides have replaced 3.9m car trips, helped increase non-polluting commuting, and saved over 2,000 tonnes of CO2. As of 2020, Voi’s services are climate neutral, and the company works continuously to reduce residue emis-

SCC member Envac’s automated waste collection system has been operational in Wembley Park, London, since 2008. By 2025, 24,000 Wembley residents will use the system, handling up to 6,000 tonnes of waste and recycling per year. When fully complete, the system will remove an estimated 700 tonnes of vehicle collection emissions from the environment, and will save the space of 2,000 traditional waste containers – an equivalent to 200 car park spaces. Since the introduction of the system in Wembley Park, recycling rates have increased by 30% and emissions related to waste handling have decreased by 90%.

SCC patron Handelsbanken has committed to achieving net zero emissions across its operations, by no later than 2040, including its lending and investment portfolio. Since it first started measuring its CO2 emissions in 2013, Handelsbanken has reduced them by 46%, or 1,845 tonnes, in the UK. It has reduced emissions from energy use in buildings by 43%, and between 2013 and 2020, paper usage was reduced by 91%, equalling to 1,463 tonnes CO2 emissions. Handelsbanken recently joined Bankers for NetZero, an initiative aiming to identify how banks can best support key sectors of the UK economy in transitioning to net zero.

Voi introduced its e-scooter to the UK market in 2020 and is now present in 17 towns and cities across the country.

Since the introduction of Envac’s automated waste collection system in Wembley Park, recycling rates have increased by 30%.

Handelsbanken has committed to achieving net zero emissions across its operations by 2040.

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CLIMATEVIEW With its ClimateOS platform, ClimateView is helping Nottingham become the UK’s first carbon neutral city by 2028.



SCC member ClimateView is a Swedish climate action technology company that helps cities transform climate planning into progress. As one of the pilot cities working with the ClimateOS platform, Nottingham has already reduced its CO2 emissions per capita by 52.3%, and is now aiming even higher with its Carbon Neutral 2028 action plan, positioning it as the UK’s first carbon-neutral city. ClimateView’s platform provides transparency in creating an emissions inventory and more speed and precision in following up on the targets.

SKANSKA

NIBE

 -223k

Skanska UK will cut carbon emissions to 50% of its 2010 levels by 2030, targeting 223,000 tonnes of CO2 equivalent gases.

 -80%

Trials of low carbon reinforced concrete will deliver an 80% lower carbon footprint than regular concrete.

SCC patron Skanska UK aims to be carbon neutral, with net zero emissions, by 2045. The objective for its portfolio of projects is to be net zero without using carbon offsetting schemes. By 2030, Skanska UK aims to cut carbon emissions to 50% of the 2010 level. The target is 223,000 tonnes of CO2 equivalent gases. In line with its targets, the company has joined the global SteelZero initiative, pledging to procure, specify and stock 100% net zero steel by 2050. Skanska is now also trialling low carbon reinforced concrete on National Highways M42 Junction 6 improvement scheme, delivering a carbon footprint up to 80% lower than standard concrete.

The ClimateOS platform provides Nottingham with more speed and precision following up on its Carbon Neutral 2028 action plan.

VATTENFALL

 4m

With 10 operating windfarms and future projects, Vattenfall will cover the electricity needs of more than 4 million UK homes.

The Brent Cross South regeneration scheme will include a 8MW installaMW tion of heat pumps – the UK’s largest installation to date.

8

SWEDISH FOOTPRINT IN THE UK

 600k

It is estimated that 600,000 heat pumps need to be installed by 2028 to meet the UK net zero targets.

As the UK accelerates the transition to net zero, it will be banning gas boilers in new built homes from 2025. SCC member and sustainable indoor climate solution provider NIBE is taking its 70 years of Nordic experience to the UK with its energy-efficient heat pumps. To meet the UK targets, it is estimated that 600,000 heat pumps need to be installed by 2028. Through its NIBE Pro programme, the company offers training and guidance to plumbing and heating engineers across the country to facilitate and accelerate the transition from gas boilers to green heating solutions.

NIBE is taking its 70 years of Nordic experience to the UK with its energy-efficient heat pumps.

The objective for Skanska UK’s portfolio is to be net zero without using carbon offset schemes by 2045.

 -43%

IKEA  

ERICSSON

£3.4bn

 30%

IKEA will be investing £3.4bn in renewable energy in the UK by 2030. IKEA’s wind farm in Scotland covers 30% of its UK stores’ electricity use.

 98%

Ericsson’s new 5G radio reduced the daily network energy consumption by 43% in an installation in London. More than 98% of Ericsson’s material content is recycled.

SCC patron Vattenfall operates 10 windfarms in the UK and with future projects in the pipeline, the company will be able to provide enough electricity to meet the needs of more than 4 million homes. Among the projects is an onshore solar farm in Kent, expected to produce 20,000 MWh/year, providing sufficient electricity to power up to 5,000 homes. Also, Vattenfall will deliver a new district heating network serving 6,700 new homes in the Brent Cross South regeneration scheme. At 8MW, it will be the largest installation of heat pumps in a heat network in the UK, aiming to eventually remove all CO2 emitting resources.

SCC patron IKEA has committed to being a fully circular business by 2030. To meet its targets, the company will be investing £3.4bn in renewable energy. Recently, IKEA purchased a 12.3MW windfarm in Scotland providing enough energy to power 30% of the company’s UK electricity use. Also, 2.1 MW worth of solar panels will be installed atop of its UK stores, providing an additional 5% of each store’s power needs. Other initiatives include IKEA’s buy back and resell service, giving its furniture a second life, before being ultimately recycled.

SCC patron Ericsson puts particular focus on energy performance in its ambitions to reach net zero across its value chain by 2040. Recently, the company completed the first deployment of a new energy-efficient 5G radio in London, as part of a partnership with Vodafone. Situated on the roof of Vodafone’s London office, Ericsson’s radio solution saw the daily network energy consumption decrease by an average of 43% compared to previous technology. With a circular approach, sustainable materials management, reuse and recycling are on top of Ericsson’s agenda. Its Global Product Take-Back Program ensures that more than 98% of the material content is recycled.

With future projects in the pipeline, Vattenfall will produce enough electricity to power more than 4 million UK homes.

IKEA gives its furniture a second life through its buy back and resell service.

Ericsson’s new energy-efficient 5G radio reduced the daily network consumption by an average of 43% in a recent installation.

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The strive for work-life balance - the Nirvana of the business world “Work-life balance” is the mantra of the modern, a sort of nirvana we are all trying to reach. For many, the increased flexibility created by COVID-19, regarding where, when and how we work, has been highly helpful. The dark side of this newly found freedom is that the stress and issues we are used to experience at work, are now increasingly moving into our homes and weekends. The Link spoke to Dr. Siobhan Jones, Lead Psychologist and Consultant Clinical Psychologist at SCC member Mindler UK, about how to find a good work-life balance when the two are becoming increasingly inseparable. BY: MATHILDA KENNETT & SAGA PALMÉR

The pandemic years were the primetime of flexi-working, with more people than ever working from home, distributing the workload on the days and hours that suited them best. For some, this created great opportunities and opened new doors, for others, made it impossible to keep the two worlds apart. But what exactly is good work-life balance? How would you define it or know when you have achieved it? According to Siobhan, what we mean by balance is different for all of us. “The concept is very individual – a good worklife balance has as many faces as there are people out there. Some people enjoy working a lot, others less, some prefer working from home, and others in the office, and so on. It is all about finding what works for you and what makes you happy.” However, Siobhan says, most would agree that one side shouldn’t outweigh the other, and that the different parts of one’s life should be proportionate to each other. This is why we normally speak about “balance”.

“We may choose not to show every part of ourselves at work, but it’s still there, and it still affects the way we behave.” “I would say you have reached a good worklife balance when you find yourself engaging in both your work life and private life in a meaningful way, and that one doesn’t negatively impact the other. They should complement each other, not work against each other.” She emphasises that a common psychological mistake, is to believe that we can separate the

different roles we play in life, and the worries attached to them. But it is risky to act as if we can leave the problems, stresses, and thoughts in the space where they were first created. “No matter how much we would like to think that we move into different roles when at work, compared to when at home, we are still the same person, with the same brain, and the same thoughts. We may choose not to show every part of ourselves when we are at work, but it’s still there, and it still affects the way we behave.” In other words, we play multiple roles in our lives, such as employees, partners, friends, and parents, and they are all played out on different arenas – in the office, at home, etc. But the thoughts and feelings created in each of these places will be brought with us into the next – whether we like it or not. Employers’ responsibility There is often more than one person involved in each work-life balance. It might be difficult to strive for down-time and balance if you have both a boss, family, and friends all fighting for your time and attention. But to what extent can you expect your employer to take responsibility for your wellbeing? “When we think about an employer’s responsibility versus the employees’ to create a good work life-balance, we can essentially say it’s the responsibility of both. And this is where the words ‘work’ and ‘life’ become extra important. To create a good balance, both sides need to work on their part to become the best version they can be. It’s important that the foundations are stable in both places.” But with stress-related illnesses and burnouts raising in numbers and, inevitably, people taking sick-leave, a healthy work-life balance is becoming increasingly important for employers and businesses.

Siobhan believes that the workplace culture is the main key to keeping your staff healthy and balanced. Without a healthy culture, she says, many of the trendy wellness-perks businesses offer their employees today are close to pointless. “When it comes to organisations, they must reflect on how their corporate culture influences their people. Free yoga classes, lunches, and eye care vouchers – they are all great, and we should continue with those, but their impact is little to none if the employees still feel anxious at the workplace.” As an employer, the best way to understand the culture of your workplace, and how healthy it is, is to pay attention to things such as workload and dynamics. “It is important to be attentive and reflect on the culture of the workplace. How are the relationships between managers and co-workers? Is the workload reasonable right now? Do we need to make some extra efforts to make people feel comfortable? The key is to actually take the time to consider how psychologically safe the work environment feels,” says Siobhan.

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Siobhan visiting her parents in Shipbourne, a small village of 470 inhabitants in Kent. Photo: Radek Dranikowski.

Finding the right measures to fix an unhealthy culture might seem difficult or costly at first – especially if the source of the issue is hard to define or track down. But according to Siobhan, letting employees work in a distressing or insecure environment is likely to end up being even more expensive than it is to invest in countermeasures.

“If the psychological safety of the workplace fails, it will impact the performance of employees.” “If the psychological safety of the workplace fails, for example if employees feel insecure about the expectations put on them or feel as if they are not being heard, it is likely to have a massive impact on their performance. Creating a safe environment is crucial, as a healthy team equals an efficient team.”

So, if you are in a leading position, how can you encourage your employees to take care of their own wellbeing? Siobhan says that as a manager or business leader, you are serving as a role model to many of your employees and should therefore lead by example. “If you tell your employees it’s important to leave work on time, but don’t do so yourself, they will feel like it’s expected to stay overtime, and maybe frowned upon to leave work on time.” Doing this successfully, and creating a healthy workplace with healthy employees, will serve business leaders in many more ways than simply being liked. Research shows that there are just as many financial as social incentives, with 56% of employee burnout caused by negative work culture is to blame for 20%50% turnover. Additionally, for 65%, work-life balance is the top driver for people looking for a new employer, making it more important than salary. Needless to say, being able to provide your employees with a good work-life balance will both attract better candidates and help them be more productive at work.

Ultimately, a workplace offering a good worklife balance seems to be beneficial for both employers, employees, and business. So, will the businesses of tomorrow exchange “bigger, better, bolder” and instead strive to be a bit more balanced?

About Mindler Mindler is a digital healthcare provider founded in Sweden in 2018. Mindler employs more than 350 psychologists operating worldwide, offering therapy via video calls and access to specially designed iCBT programmes. The service is available to both patients individually, and to companies wanting to offer therapy to employees. Mindler’s business solution offers a way to support employees and help prevent or tackle mental ill-health in the workplace. During the pandemic, there has been an increased pressure on NHS mental health services. Since expanding to the UK in June 2021, Mindler aims to help relieve pressure on the NHS by improving accessibility to phychological services.

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SKANSKA AND THE SCC bUILDing A SUSTAINABLE tomorrow Skanska UK and the Swedish Chamber of Commerce for the UK announce a new sustainability partnership, addressing the urgent action required to build a more resilient future. BY: JONAS EKLUND

The UK Government has set out an ambitious plan for a green recovery, dependent on both public and private investment. The Ten Point Plan for a Green Industrial Revolution spans across energy, buildings, transport, and innovation, where industry plays a central role. The partnership will bring together businesses, policymakers and academia to find tangible ways to tackle carbon emissions and share knowledge and innovation, that will support living beyond our lifetime. “Much like Sweden, the UK is leading the way in the green transition, both in creating public policies and in serving as a greenhouse for innovation. For us, it is only natural to facilitate knowledge-sharing and innovation amongst businesses, policymakers and other stakeholders to meet and share experiences across our two countries,” says Peter Sandberg, Chief Executive at the Swedish Chamber of Commerce for the UK. Carbon neutral by 2045 In 2019, Skanska UK announced its commitment to be carbon neutral by 2045. Not only does this include its own direct emissions but also those generated from its whole supply chain on projects.

“Businesses cannot work in isolation to solve the climate crisis. ” Since then, Skanska has reached significant milestones. This includes converting fully to low-emission, high-performance HVO (hydrotreated vegetable oil) fuel to power all site plant and equipment, and an electric vehicle first policy for its fleet of company cars. To help the wider industry, Skanska has also produced reports on the use of low-carbon materials as an alternative to using concrete and created data tools to track and target carbon emissions.

Gregor Craig, President and CEO of Skanska UK. Photo: Renz Andres.

Forging alliances Skanska is no stranger to forging alliances across borders and industries. In 2019, Skanska and IKEA introduced their joint venture BoKlok to the UK, aiming to build sustainable and high-quality homes that make home ownership accessible to more people. BoKlok is now on track to complete its first development in the UK. “As a UK construction company with Scandinavian heritage we have shared values and business perspectives with the Swedish Chamber of Commerce, making this an ideal partnership. Businesses cannot work in isolation to solve the climate crisis. This partnership provides a platform to bring leading players together to co-create tangible solutions that can be adopted across diverse industries,” says Gregor Craig, Skanska UK’s President and CEO.

Tackling the climate crisis together With Skanska as its sustainability partner, the Swedish Chamber is hosting its annual sustainability summit ‘Impact’ on 27 May 2022. Thought leaders from both Sweden and the UK will share learning and discuss ways in which industry and government can tackle the climate emergency, and together reach the United Nations sustainable development goals. In addition to this, Skanska and the Swedish Chamber will host a series of roundtable discussions and other events over the course of the next year.

MORE ABOUT IMPACT Scan the QR code to learn more about the SCC’s sustainability summit Impact.

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I M PA C T

ROYAL GALA DINNER

27 May 2022 8am - 5pm The Londoner Hotel, 38 Leicester Square, L o n d o n W C 2 H 7 DX

27 May 2022 7pm - until late Rosewood London, 252 High Holborn, London WC1V 7EN

The great challenge of our lifetime, and how we can solve it together

In celebration of friendship and trade between Sweden and the United Kingdom

IN THE PRESENCE OF

HM King Carl XVI Gustaf and HM Queen Silvia of Sweden

25+ speakers, including: ANNA BORG \ CEO, Vattenfall ANDERS DANIELSSON \ President and CEO, Skanska HELEN DICKINSON \ CEO, British Retail Consortium FIONA HARVEY \ Environment Correspondent, The Guardian SIR PETER HENDY CBE \ Chair, Network Rail EMMA HOWARD BOYD \ Chair, Environment Agency THOMAS INGENLATH \ CEO, Polestar JAN-OLOF JACKE \ Director General, Confederation of Swedish Enterprise LEIF JOHANSSON \ Non-Executive Chairman of the Board, AstraZeneca JULIA KING, BARONESS BROWN OF CAMBRIDGE DBE \ Chair, Carbon Trust ALLISON KIRKBY \ President & CEO, Telia MARTIN LINDQVIST \ President & CEO, SSAB JOHAN LUNDGREN \ CEO, EasyJet CHUKA UMUNNA \ Managing Director & Head of EMEA ESG, JP Morgan ANKO VAN DER WERFF \ President & CEO, SAS DARREN WILSON \ CEO, LKAB Minerals

S T R AT E G I C S U S TA I N A B I L IT Y PA RT N E R

B O O K I N G I N F O R M AT I O N For more information and to book your tickets, please visit scc.org.uk

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With 2.3 million patient cases per year in Sweden, and the Norwegian Directorate of Health procuring its platform to use nationwide, Swedish health tech company Doctrin is now expanding its digi-physical solution to patients and physicians all over the world. “This has been a really exciting time joining Doctrin and launching our new UK business. Doctrin is transforming how UK healthcare is delivered, moving to digital consultations that demonstrably improve patient care as well as the experience and efficiency for clinicians,” says Craig Oates, Managing Director of Doctrin UK.

www.fromswedentouk.co.uk The campaign “From Sweden to the UK, then the world” is a collaboration between the British Embassy Stockholm and the Swedish Chamber of Commerce for the UK.

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FEATURE

forecasting the future of finance In the last couple of years, one unforeseen event has followed the other, each one taking a turn on the global financial stability. Some events have struck on a worldwide level, such as the climate crisis and the pandemic, others on a more regional one, such as Brexit and the current conflict in Ukraine. The Link spoke to Jens Magnusson, Chief Economist at SCC patron SEB, about the state of the global market and how businesses should act in the most unpredictable of times. BY: SAGA PALMÉR

“From a financial point of view, the most important events globally in the last few years have been the pandemic and now the war in Ukraine. These events have caused disruptions in supply chains, massive increases in energy prices, lower growth, and higher inflation.” Jens Magnusson summarises, and adds: “In the case of Britain, one must also mention Brexit, which has made these problems even worse, by adding hesitation among investors, labour shortages and a more negative growth development during Covid than most comparable countries. “ Both Sweden and the UK were struck severely by COVID-19, though each country decided to handle the pandemic in quite different ways. While the UK government decided to shut down significant parts of the country, Sweden to a larger degree remained open. Jens says that the lockdowns imposed in the UK had a distinct effect on the British economy, increasing further with the aftermath of Brexit. “Both the British and Swedish economies and business were negatively

affected by the pandemic, as demand and financial markets took a hit initially, and then, when markets and demand had recovered, the supply side and global value chains were severely damaged. Business, especially in the service sector, also suffered from not being able to keep shops, restaurants, and workplaces open.” He says and continues: “On top of that, labour supply was limited due to sick leave, restrictions, and precautionary measures. If you compare the British situation to the Swedish, the British was significantly worse. The difference in outcome is probably due both to the UK being hit harder by the pandemic and imposing harder lockdowns, while dealing with Brexit simultaneously.” A changing world order Some would say that the escalation of events in Europe has made matters even more pressing. The Russian invasion of Ukraine equals a drastic change in the global security situation – creating instability on stock markets and a pressure to handle rising prices on natural resources. This new reality has led to

economists revising their GDP forecasts for the global economy, with the outlook for the European area being adjusted significantly downward.

“If you compare the British situation to the Swedish, the British was significantly worse. ” According to Jens, the effects of the conflict are likely to be both multi-dimensional and long-term, not least with Europe looking for ways to decrease its business with Russia. “The security situation has probably changed forever, or at least for the foreseeable future, with Russia not being considered a trusted trading partner or member of the global community for a very long time. Some concrete effects will be that Europe will try to decrease its dependency on Russian oil and gas as

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Left: Jens Magnusson, Chief Economist at SEB. Photo: SEB. Right: Jens being interviewed by Anders Engstrand, Country Head of SEB UK. Photo: SCC.

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quickly as possible, and in the meantime, energy prices will remain elevated. But there are also several other natural resources, commodities, food, fertilizer, and grain that will have to come from somewhere else in the future. Therefore, it will take some time for markets to reach a new stable equilibrium.” Even if things such as fiscal policy support, investment in defence, and increased consumption as a result of the growing refugee flows were to have a positive effect on the European economies, these alone are not enough to stop the downward revisions of economic forecasts. Moving forward, looking back With Europe being put under pressure by the war, the pandemic, and the climate crisis simultaneously, it finds itself in a unique situation. But Jens can still think of ways to draw learnings from the past. “All times and events are unique, and you can’t copy yesterday’s solutions on today’s problems. Having said that, it is important to draw on our experiences,

failures, and achievements of the past.” He says and continues: “For example, today’s energy situation reminds us of the oil crisis in the 1970’s and from that we have learned not to ignore inflation impulses. From the global financial crisis in 2008, we learned not to tighten fiscal and monetary policy too much nor too fast after the acute phase of the crisis had passed. So yes, there are learnings from the past, but we must also do some serious problem solving on our own.”

“It is important to draw on our experiences, failures, and achievements of the past.” Jens’ advice to business leaders is to keep as calm as possible, even when the market is shaky. Because after the storm, most of the demands will return and so will consumption

Business Breakfast with JENS MAGNUSSON On 22 March, members of the SCC gathered at SEB’s offices in central London, for a business breakfast with Jens Magnusson, who gave his macroeconomic outlook for Sweden and the United Kingdom. Jens spoke about the post-Brexit effects, the war in Europe and the pandemic, with lots of questions asked and interesting deep-dives following.

and purchase power. “My advice would be to try to stay balanced. The situation and the news from Ukraine are of course extremely disturbing and as a business owner you will have to be prepared that the situation could get even worse. But there will come a day when the situation stabilises, and markets and societies return to normality. When that happens, there will still be a demand for goods and services and the long-term trends, such as digitization, the global climate transformation, ageing populations, will still be there and create business opportunities. “ Jens says that Sweden and the UK have proven themselves very agile, something that will come to great use when the time comes to switch back. “Businesses in both Sweden and the UK have shown great ability to adapt to new circumstances and to overcome difficulties during the pandemic. That tells me that, even with the state of the world looking very dark right now, there will be plenty of opportunities in the future.“

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 SEE PHOTOS FROM THE EVENT ON PAGE 26 Dr. Johan Christenson, Partner at HealthCap, Dr. Miao He, Senior Investment Associate at Hadean Ventures and Shaun Grady, SVP, Business Development Operations at AstraZeneca. Photo: Renz Andres.

Understanding the M&A market in 2022 On 10 March, the SCC organised the Nordic M&A Forum – an annual conference bringing together stakeholders and thought-leaders in the Nordic M&A sphere. Covering everything from inflation to security, from life science to tech, the speakers were able to tap into some of the most relevant questions of today. The Link summarises the most important takeaways from the conference. BY: SAGA PALMÉR

The past years have, mildly speaking, been rocky for the M&A market – not least in the Nordics and the UK. The climate crisis and Brexit, followed by the pandemic, are all events large enough to create instability by themselves. With the Russian invasion of Ukraine changing the whole security scene of Europe, the market is thrown into yet another unpredictable era. By gathering leading stakeholders from the M&A market, the SCC was hoping to create some clarity in these uncertain times. The evening kicked off with a data presentation held by Dominick Mondesir, Senior Analyst, EMEA Private Capital, PitchBook. Summarising the year behind us and the outlook for the next, Dominick concluded that the Nordic M&A activity is expected to remain active in 2022, although at a slower pace than before. Looking at the Nordics in particular, Sweden continues to dominate the M&A landscape, though Denmark saw the largest M&A growth in 2021. The state of the Nordic M&A markets The next panel was keeping its gaze on the Nordic countries, with Nuala Higgins, Head of Private Equity, Carnegie Investment Bank, Pia Kåll, Managing Partner, CapMan Buyout, Jan Olsson, CEO of the Nordics, Deutsche Bank and Chairman, Swedish Chamber of Commerce and Hans Årstad, Private Equity Director, KKR discussing the state of the Nordic M&A markets. Moderated by Fredrik Bolander, Managing Director at Lincoln Internation-

al, the panel said that the Nordics could come to suffer by the recent escalation of events in Europe, not least due to its geographical proximity to Russia and the Baltics. On the same topic, Pia Kåll spoke about a so called “proximity to Russia discount”. Jan Olsson said that the uncertainty previously caused by the pandemic has been exchanged by the uncertainty caused by the security situation in Europe. Due to these events, Nuala Higgings said she advise clients to keep activities low at the moment, but to be ready to act when things start looking brighter on the market. The untapped growth potential in lifescience M&A The following panel, moderated by Peter Lindell, Partner, Brunswick Group, included Dr. Johan Christenson, Partner, HealthCap, Shaun Grady, Senior Vice President, Business Development Operations, AstraZeneca and Dr. Miao He, Senior Investment Associate, Hadean Ventures, and discussed the future of life science. The panellists believed that the industry will focus mainly on investment in research and development, based on the findings from the pandemic in the past two years. Another key topic covered, was how Europe could grow more competitive towards the US, where the majority of life science investments are made today. Dr. Johan Christenson and Shaun Grady both said they expect an increasing focus on tech in the life science sector, not least by seeing a digitisation of healthcare.

ESG: where are we & where are we going? Next up was a fireside chat including Sarah Hempel, Head of Sustainability, Axcel, led by Richard Sissons, Client Development, DealCloud. Discussing one of our time’s most urgent topics – sustainability – Sarah said that the increasing pressure on businesses to perform quick and drastic changes, is likely to lead to a growing number of greenwashinginstances. With business leaders feeling overwhelmed by these new adaptions, they are at big risk of promising too much too fast. At the same time, watchdogs, such as media and NGOs, are stepping up their game. According to Sarah, businesses would be better off learning how to adjust to the transition and customise it to their own circumstances. Will tech continue being a driver for M&A? Last but not least, moderated by Charlotte Levin, Global Partner, Linklaters; Sergio Ferrarini, Partner, Inflexion, Ola Nordbye, Venture & Growth Investments, Kinnevik and Ola Nordquist, Partner, Head of Nordics, Permira discussed the future role of tech for the M&A market. According to Ola Nordquist, the growing inflation, along with the instability on the stock market, is influencing acquisitions on all dimensions of the market. He concluded that the Nordics are strong players in the tech industry, with businesses such as Klarna as leading examples. All panellists agreed that fields such as cyber security and other “wartech” were growing at warp speed, most likely due to the changed security situation in Europe.

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Ensuring a safe ride towards electrified roads As a result of the ongoing electrification of our society, high-performing lithium-ion batteries are being intergrated into a growing range of everyday appliances and products – from smartphones and laptops, to electric vehicles such as trucks, forklifts, and cars. As many are unaware of the risks of a malfunctioning battery, new kinds of challenges are created. “A faulty battery can catch fire and burn for a very long time. It’s nearly impossible to put out a fire from an electric car. We want to raise awareness of how to safely remove these vehicles from our roads – when the status and safety of a battery system is unknown following an accident or other safety related issue during the use phase ,” says Christopher Fuchs, Managing Director of SCC patron Nefab Packaging UK. BY: JONAS EKLUND

Nefab was founded in 1949 in Hälsingland, Sweden. Starting as a small carpentry shop, it is today a global provider of sustainable packaging solutions with presence in more than 30 countries, serving industries such as tele- and datacom, energy, automotive, healthcare, aerospace, and lithium-ion batteries. More electric vehicles on our roads The UK will be banning the sale of new fossil fuel-operated cars and vans by 2030. By the end of 2018, there were 200,000 ultra-low emission vehicles, and in 2020, new electric vehicle registrations in the UK increased by 300% compared to 2019. As the demand is only expected to grow, the number of accidents involving electric vehicles will inevitably increase.

Unknown dangers of lithium batteries The costs of recovering an electric vehicle are huge, not to mention the often unknown dangers of handling a vehicle with a faulty or damaged battery. With an increasing number of electric vehicles on the roads, Nefab has developed a rescue system for transporting and recovering broken down vehicles safely, minimising the risk for the battery to catch fire or explode. “The biggest problem with this new generation of batteries is the weight and density of energy. For example, a battery in an electric forklift can weigh several tonnes. The more energy – the higher the risks if something were to go wrong,” Christopher explains.

He uses the term “thermal runaway” to describe one of the main risks associated with lithium-ion batteries – a chemical chain reaction causing extremely high temperatures that in the worst case could result in a fire so hot it would be nearly impossible to extinguish. “A thermal runaway can make batteries burn for a very long time, with a very aggressive progression releasing toxic fumes and high energy levels within a very short period of time. I think there is not enough awareness of the risks.” Safe recovery of electric vehicles Nefab’s solution builds upon breaking the “triangle of fire” principle. For a fire to occur, you need oxygen, heat, and combustible material. If you would remove one of these elements, there can be no fire. To recover a crashed electric car, it needs to be transported safely to a place of recovery where the battery is examined and taken care of. To secure the car, it is carefully wrapped in a wrap-around blanket made of Kevlar, a heat-resistant and strong synthetic fibre. The material works also as a gas management system, that allows the smoke to leave the packaging while confining any sparks within the sealed system as the smoke mixes with the oxygen outside of the package. “A burning battery generates very high temperatures, but as there is hardly any oxygen in the packaging, and no sparks exit the seal, you will be protected from a fire or an explosion occuring. In fact, the system emits an inert gas when exposed to high temperatures, and as such actively controls the situation.”

The more energy in a lithium-ion battery, the higher the risks if something goes wrong. Photo: Nefab.

Often, even firefighters don’t know how to approach a vehicle with a lithium-ion battery. A common approach is to submerge the whole vehicle in water, which according to Christopher only makes things worse. “It is

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“We do need to raise a lot of more awareness, and that is through education.”

To recover an electric crashed car, the whole vehicle is wrapped in a wrap-around blanket made of Kevlar. Photo: Nefab.

a bigger risk to submerge the car in water. Hundreds of thousands of litres of water is contaminated and needs to be treated as dangerous goods when disposed. Also, it can’t be determined whether the battery is damaged, which poses a much bigger safety risk for anyone handling it. Not to mention that the whole car will be ruined.” “This is one of the reasons why insurance premiums for electric cars are more expensive. We are working with insurance companies in the UK and use our system to safely transport and quarantine the vehicle for examination and recovery. Of course, this takes more time, but in the end, it saves money, is kind to the environment, and the

Christopher Fuchs, Managing Director of Nefab Packaging UK.

car can be restored. Even the rescue system can be reused, as long as nothing happens with the battery.” Raising awareness In many cases, emergency and rescue operators have not undergone the proper training to recover electric vehicles. “We regularly see firefighters for instance, who would approach a burning electric vehicle the same way as they would attack a normal combustion engine based vehicle, by opening up the bonnet to expose the engine. But in an electric car, the batteries are located in the base of the car, which is where the fire normally starts.” Nefab arranges product trainings to educate around the risks associated with lithium-ion batteries, but Christopher calls for more collaboration between different actors to raise awareness. “We focus on the people who use our product. Firefighters, emergency response units, vehicle recovery crews – those are the ones that we want to speak to and advise on the dangers and the dos and don’ts. But we do need to raise a lot of more awareness, and that is done through education. There is no other way around this.” Green innovation In addition to working on its solutions for lithium-ion batteries, Nefab continues to research and reinvent the future of packaging by putting a lot of effort into developing new technology and materials, and focusing on finding smart ways to provide greener packaging solutions. One of its more recent innovations is using straw as raw material for a new packaging material – a resource that usually is burned in parts of Asia, where it is sourced, as it is deemed to be useless for local farmers.

“For us it is important not to create so called ‘eco feuds’. For instance, when you take food products and turn them into energy and create fuel or bio diesel, the price of these commodities will go up, and the people buying these products will be badly hit. Taking this into account, we want to put additional value into the sources we get the raw material from,” Christopher explains. “By using straw that normally would have been burned, we put money into the system supporting the local communities. On top of that, we are creating a much more sustainable product, it is more durable with a longer life-span and can be recycled as paper.” Making informed decisions To enable its customers to make informed decisions, Nefab performs life cycle analyses of the environmental impact of its packaging solutions, from raw materials all the way to their end of life.“ How much does the packaging contribute to the customer’s overall environmental footprint? What effect does the density of the packaging have on the transport? How much goods can the packaging hold? Can it be reused and how is it taken care of when it reaches its end of life? It is not only a matter of cost savings, but to make the environmental impact of your organisation visible.”

THE PATRONSHIP The SCC patronship consists of a core group of SCC member businesses committed to supporting the Swedish-British business community. The patronship comes with a range of benefits – if you would like to know more, please contact membership@scc.org.uk.

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The newsletter still reigns supreme Newsletters might be one of the oldest forms of marketing still in use today. For centuries, leaders and merchants have been summarising news and offers, announcning it through newspapers, letters and notice boards. Today, we receive the same type of messages in our inboxes and social feeds. But even if the method seems to stand the test of time, the format is constantly forced to reinvent itself to survive. The Link spoke to Annie Hammar, digital marketer at British Newsletters, about current trends and the keys to successful email marketing. BY: SAGA PALMÉR

What is it about newsletters constantly making comebacks? While many other forms of marketing may come and go, newsletters seem to adapt to the times they operate in, and, ultimately, survive. Is it due to its simple, yet efficient, concept? A short summary that you receive in the way you find most convenient – be it by traditional post, email or social media. Annie says that one key strength of newsletters is precisely that – the simplicity. They are easy to customise, both in terms of content and means of delivery, all while giving the sender an opportunity to interact with the receiver in a personalised way. “Newsletters can help you engage with your customers and get to know them a bit better. Ultimately, you can make your newsletters feel more personal which, in turn, will make the communication more efficient.” There are many reasons to aim to create personalised content. Research show that 80% of consumers are more likely to make a purchase when brands offer personalised experiences, and 99% of marketers say personalisation helps advance customer relationships, with 78% claiming it has a “strong” or “extremely strong” impact.

With many businesses wanting to seem contemporary, or up-to-date, they might prioritise channels like social media over more traditional means of communication. But Annie thinks the most successful strategy is to use different channels for different purposes. That way, you can leverage the advantages of each one of them. “It’s always a good idea to include different communication channels in your marketing strategy. Being active and engaging on social media is a great way to keep interactional communication alive, but it’s just as important to remember that your target audience might want to take part of different types of information. Newsletters make it possible to segment your customers into different groups so that you can send the right message to the right person”, she says and continues. “You can have a lot of followers on social media, but they might follow you for other reasons than being interested in your services. The customers that have signed up for your newsletters are more likely interested in buying your products, and can generate actual leads.” But even if the recipients have signed up to receive your newsletters themselves, you

should avoid sending too many of them. Doing this the wrong way could lead to your emails ending up in the spam folder, or, even worse, giving potential customers a negative view of your brand. According to Annie, this can happen if you don’t know how to plan your campaigns properly. “Email marketing has gotten a bit of a bad reputation due to businesses using a so-called spam strategy – they fill their customers’ inboxes with offers and information every other day. This strategy makes the receivers tired of having a constantly full inbox, which likely will make them unsubscribe. I believe that no one enjoys this kind of forced communication, but if you plan your campaigns and make sure that you communicate relevant information, you’ll find the strategy very effective!” To increase the likeliness of a successful strategy, and avoid spamming your customers, Annie recommends focusing on personalisation. “As the digital society continues to grow, it is important than ever to keep up with new trends. I would say that the key trends for successful newsletter marketing in 2022 are personalization, user engagement, and interactivity.” Annie says and shares a few of her best tips to achieve a successful marketing campaign.

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80% of consumers are more likely to make a purchase when brands offer personliased experiences.

99% of marketers say personalisation helps advance customer relationships.

78% claimed the impact is “strong” or “extremely strong”.

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1. GROUP, CATEGORISE AND TARGET The best way to create a successful strategy for your newsletters is to start with dividing your customers or audience into different groups based on their interests or made purchases. By doing this, you get a hold of your customers’ interests and what information is relevant to them. Make lists for your specific groups and send targeted, personal and relevant emails to your customers.

2. PLAN YOUR TIME After you’ve segmented your customers into different lists, you can start planning what to write. Make a list of the most important things and topics you want to communicate during the year. Sort the topics after specific seasons, and decide which customer should receive what information. This strategy is great when planning specific sales campaigns or communicating news about your company or organisation.

3. PLAN YOUR CONTENT The most important tip is to always go through your letter to assure that the content is relevant for your readers. You should always try to write your newsletters from your readers’ point of view, which will make the delivery of your message more effective.

4. CUT TO THE CHASE The right copywriting can give you good leads on your newsletters. Try to communicate the main message as early as possible, to make sure that your receivers will continue reading, and write informative titles to help the reader navigate through your newsletter.

5. CALL TO ACTION

Annie Hammar, Digital Marketer at British Newsletters.

Always include link to your webpage or other platforms to guide your readers to further information. Include prompts, or “CTA:s” (Call to actions), to encourage the audience to engage. Make it easy for your readers to become customers, by converting to your website through links and buttons.

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bringing green innovation to the uk – 7 Nordic and Baltic businesses with one common mission In early March, the SCC organised Ecosystem Exchange: Greentech, inviting seven businesses from the Nordics and Baltics, for two half-day sessions at Skanska’s offices in central London. Working together to solve one of our times’ most urgent issues, it brought together businesses and professionals to exchange learnings, contacts and industry insights. The Link summarises some key learnings, looking at the state of the UK’s green journey and the potential opportunities for Swedish business. BY: SAGA PALMÉR

With both a government and population highly invested in the green transition, Sweden often ranks as one of the most sustainable countries in the world. For example, more than half of the waste in Sweden is converted into energy through burning, and most of the remaining part is recycled. This has created industries and businesses framed on green solutions. Therefore, it might come as no surprise that other countries would look towards Sweden when striving towards their own climate goals. So, what opportunities does this create for Swedish businesses looking to explore new markets? What areas should they be looking at when expanding from Sweden to the UK? In the panel discussion “Beyond London: Opportunities across the UK“, the panellists shared insights both in terms of fields and geographical areas. Two main trends According to Jie Zhou, Programme Manager, University of Cambridge, there are two main trends when looking at UK greentech today. The first one is business and innovation aiming to reduce the carbon footprint, often directed towards the energy sector. This field is particularly strong since it goes hand in hand with the climate goals of the government, she says. “In the UK, tech aimed at the energy sector is doing particularly well. With COP26 and the Government’s aim to reach net zero by 2050, there has been increased interest and activity in this field, making it easier to find a market for it.” The second trend Jhie highlights is the field of circular economy, which is also growing, but at a slower pace. “This is an emerging field, but I would say that it is still in its infancy. There are a lot of challenges surrounding it, especially around reverse logistics and around changing people’s consumption habits. But if you are able to get in at this early stage, there are great opportunities to be found in filling these gaps. ”According to Ben Foulser, Director at KPMG, a majority of the cleantech investments currently happening in the UK are directed into mobility and transport. Although, he said, there are other, less explored, areas where opportunities are growing – such as buildings, shipping and agri-tech: “We are seeing a good distribution of cleantech investments across the country, especially in mobility and transport, and I predict significant upcoming decarbonisation opportunities in buildings and agri-tech.

The panellists spoke at Ecosystem Exchange: Greentech. Photo: SCC.

As we have got a big budget going into very challenging climate goals, it’s a fantastic opportunity to invest in the UK at the moment,” he says and continues;“I would especially keep an eye on the shipping industry. The maritime provinces are launching the 2050 Clean maritime strategies, which has some very ambitious targets for investment.”

“In the UK, tech aimed at the energy sector is doing particularly well .” In addition to the maritime provinces, there are a number of area-specific opportunities coming up across the country. Chris Moore, Technology Specialist, Department for International Trade, points at some significant movement happening outside of London, and all around the UK. “I think Scotland is a fantastic location for many companies interested in the energy sector at large, or in agri-tech specifically. Apart from that, Newcastle was voted the number one smart city in the UK in 2012, and offers great opportunities for those who are

interested in a more urban environment and in circular economies,” he says. “For those interested in manufacturing, the West Midlands is very much the focal point, as well as the East of England where significant investments are being made at the moment.” Adam McDonald, Managing Director at Skanska UK, believes it to be a great time for businesses with expertise in sustainability and greentech to be present in the UK. Currently, both the climate crisis, pandemic, and security situation in Europe are increasing the pressure to find new sources of energy, both countries and corporates will be looking for people and businesses who can help them with the transition. This, Adam says, provides opportunities not least for start-ups and SMEs. “For us at Skanska, and many with us, it is about finding partners who can help us tackle the challenges of today, created either by new laws and legislation, or by increasing prices. So, there is momentum rolling for businesses in this field, which accelerated through the pandemic, leading to investment flowing. This is not least true for businesses who could help unlock some of the challenges that we face today, and those in the near future.”

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SCC Business Services:

“We have helped hundreds of businesses taking the leap across the North Sea” Since the re-launch of its business services offering in 2019, the Chamber has developed and diversified its portfolio of concepts. ”We are establishing ourselves as the first point of contact for Swedish tech startups and SMEs that are looking to expand to the UK. We serve as a platform merging the UK and Swedish ecosystems which all stakeholders can leverage from,” says Anna Crona, Head of Business Services at the Swedish Chamber of Commerce. BY: JONAS EKLUND

One of the first results of the then newly formed Business Services department was London Bootcamp, an accelerator programme designed for Swedish tech businesses, in collaboration with Startup Sweden. Today, the programme goes under the name “AccessUK” and remains the SCC’s flagship programme. “However, we have diversified our portfolio and are today working with a broad range of partners to differentiate the offering of programmes to diverse audiences,” says Anna Crona, heading up the Chamber’s Business Services department since its start in 2019. Finetuning successful concepts Over the years, the Chamber has worked on finetuning other successful concepts. “For example, we have developed scalable concepts such as the Ecosystem Exchange series, inviting startups to explore opportunities and connect with a range of focus industries in the UK. We have already covered areas such as fintech, life sciences and greentech, and will continue with deep-diving into foodtech and the games industry in the autumn.” Partnerships core to the offering Long-term partnerships is core to many of the services delivered, and at the centre of each partnership is a mutual strive towards the same goal – helping Swedish businesses grow and thrive in the UK market. “Together with our partners, we develop, organise and execute events and programmes that give participating companies the tools they need to enter the market and grow. From sessions on market

readiness and go-to-market, to raising capital and introductions to potential partners and clients, we tailor the contents to each industry and participating business.” Connecting with the ecosystem To connect with the ecosystem of Swedish startups and scaleups, the Chamber collaborates closely with incubators, accelerators, and trade associations across Sweden. “Our collaboration partners work with hundreds of businesses, ranging from very early-stage business ideas to more mature companies ready to scale up. Many businesses see the UK as a launch pad for a further international expansion. By making the case for the UK, we help them taking the first steps outside their domestic market.” Plenty of success stories The Chamber has helped hundreds of businesses taking the leap across the North Sea and the success stories are plentiful. “We work with some of Sweden’s most noteworthy tech scaleups. Climate action company ClimateView, advergaming company Flarie, and last-mile delivery provider Airmee, are only a few of the businesses that we have helped getting a foot in on the market through our accelerator programmes and the connections we have provided.” Welcoming members to get involved The vast pool of knowledge of the SCC community is an integral part of the services offered to businesses with an eye on the UK market.

“

It did lead to actual business. We are now up and running with five London boroughs thanks to your introduction to London Councils. We have also hired a colleague based in Nottingham. Fredrik Uddenfeldt VP Community Growth at ClimateView, on participating in the AccessUK 2020 programme

“Whether you would like to get involved as a speaker or venue host, or connect with the businesses though an individual meeting based on their requests, you will get first-hand exposure to a range of companies looking to establish or grow in the UK. It is important to offer help and engage early in their journey, and we invite the SCC community to be part of it.” Would you like to learn more about how the SCC could help your business? Get in touch with Anna Crona, Head of Business Services, at anna.crona@scc.org.uk

THE SCC: FIRST POINT OF CONTACT WITHIN 5 KEY AREAS

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Swedish innovation in demand when the UK switches to green heating With less than three years to go, the UK government’s gas boiler-ban in newly built homes is closing in. As natural gas boilers are seen as one of the largest barriers to the net zero-target, 2025 will be the year we say goodbye to environmentally damaging heating systems, and hello to new green solutions. But the shift will not come without substantial efforts from various parts of society – all playing their part in enabling a future of green heating in the UK. The Link spoke to Tomas Larsson, Founder and Director, and Stephanie Larsson, Director of Better Planet, and Peter Anderberg, Founder and CEO of The Heat Academy, on why a holistic approach, and collaboration between stakeholders are vital for making the switch. BY: MATHILDA KENNETT

There is no doubt that the heating market in the UK is going through a transition, as the 2025 ban of gas boilers is creating a huge gap in the market for renewable heating systems for businesses to fill. “In order to reach the targets set up by the UK government, the market needs to grow by at least 50%, resulting in a massive growth potential. Now that we are on the brink of going from a niche market to a mass market, we have all elements in place to create a perfect storm,” says Tomas Larsson, Founder and Director of SCC member Better Planet, a UK-leading renewable energy systems and installations provider.

Filling the gap Even if there are many researchers and innovators currently searching for alternative ways to generate heat, Tomas says that the shift is too urgent for us to sit around and wait for new discoveries. “Looking at existing technologies, heat pumps are currently the best alternative to gas boilers. However, to reach the targets set out by the Government, the UK needs to have the capacity of installing one million heat pumps a year by 2030. That means a 40-fold increase of last year’s 25,000 installations.” Peter Anderberg, Founder and CEO of SCC member The Heat Academy, an international training, collaboration, and

Left: Borehole drilling in Cambridgeshire. Top right: Underfloor heating installation in Essex. Bottom right: Ground source heat pump installation in Oxfordshire. Photos: Better Planet.

innovation platform for topics related to decarbonisation of heating and cooling, agrees; “We need to train about 100,000 people in the UK within the next five years. There is a rapidly growing demand for people with skills in designing, installing and operating solutions related decarbonisation of heat – energy efficiency solutions, digital technologies, heat networks, heat pumps, sustainable heat sourcing, to mention just a few.” According to Peter, Sweden is somewhat of a role model for many countries when it comes to heating solutions. The country has been on top of the sustainable heating system-game for more than 50 years, and the heating sector is now basically completely fossil-free. When asked if the Swedish model for heating simply could be copied and applied in the UK, Peter is optimistic. “To a large extent it would be possible, yes. We tend to believe innovation is everything – I think replication is everything. If a technology has proven itself efficient and commercially viable, there is no use in reinventing the wheel. Considering the climate crisis we are currently in, we need to start acting, using the technologies we have available.” According to Peter, even if the volume of what needs to be done in order to achieve the government’s goals might seem quite overwhelming for some, they could also create endless opportunities. “Local capacity building is critical, we need to train more people to install and operate the new heating solutions. We also need to expand the local supply chain in each region, and in parallel facilitate market entry for companies from other markets. This includes installation, logistics, sales, service, and so on.” He continues; “At The Heat Academy, we do this by collaborating with local universities to establish incubator locations

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Within the next five years, about 100,000 installers in the UK need to be trained for for heat pump installations.

The UK government has introduced a £5,000 grant for households to switch to an air source heat pump.

Already existing AI-based digital solutions could take 15% off our energy demand.

where both local and foreign suppliers focusing on the decarbonisation of heating, can get a local foothold to start partnering up and jointly approching customers.“ Swedish businesses active in developing the market When asked how Swedish businesses could contribute to the out-phasing of gas boilers in the UK, Peter says they will play an important role; “They have a great responsibility here and need to be active in the development of the new market. They shouldn’t sell their products unless the buyers know what they are, or should be, buying and how to install it. It’s a great opportunity and it would be in the best interest of Swedish business to invest in it.” Incentives from the Government Tomas and Stephanie see a challenge in the industry’s dependency on governmental incentives. “Something that has been a little disappointing at times is the Government’s socalled start-stop approach – it hands out generous grants, that suddenly come to an end. This unpredictable pattern creates difficulty for all players in the market since we never know what to expect.” On 1 April 2022, the government introduced a new incentive system called The Boiler Upgrade Scheme, offering a £5,000 upfront voucher towards the purchase and installation of an air source heat pump, and £6,000 for a ground source heat pump. The purpose of the incentive is to encourage homeowners to switch to renewable energy, something that, without the incentive, is more expensive than installing a boiler. “We hope the incentives are long lasting, so that we can grow the market as a normal, stable, industry,” says Stephanie.

Peter Anderberg, The Heat Academy, Tomas Larsson, and Stephanie Larsson, Better Planet. Photos: The Heat Academy and Better Planet.

The new incentive is a positive development for those supporting the switch towards a more sustainable heating system in the UK. However, Tomas and Stephanie say that a lot more has to be done. “There is a huge paradox in these targets. The government speaks about incentivising renewables, but the incentives for the fossil fuel industry is much bigger – they pay more money for oil and gas explorations in the North Sea and offers reduced VAT for gas. Until they stop incentivising the fossil fuel industry, the renewables won’t be attractive enough.” New generations with new qualifications “There’s a very interesting development happening in the heating industry right now. We used to be a sector of blacksmiths digging down pipes, and now the new generations are coming into the industry with new qualifications. For example, we have new companies from the telecom sector developing digital solutions including sensors that measure the temperature and humidity in different rooms. These sensors connect to a central database and uses Artificial Intelligence to understand how people in the building uses heat. By implementing some very basic digital solutions, we

could save 10-15% of our heat demand, with payback in less than two years,” says Peter. Like an orchestra, we need to play together Tomas and Stephanie emphasise the importance of joint thinking, and to keep a holistic approach in mind. “Right now, it feels like the plan is a bit all over the place, and that none of the departments are working together. I think they are making decisions based on different theories instead of asking those involved in the industry what needs to be done, not realising that some of these decisions are creating obstacles for us trying to contribute to reaching the targets,” says Stephanie. Peter agrees with Stephanie about a need to collaborate more; “I like to use the analogy of an orchestra – the different stakeholders brings different instruments, but we all have to listen and adjust to each other, to find the right tune and follow the same rhythm. Only then can we create a harmonious symphony, and would be able to scale much faster.” He emphasises that we also need an innovative approach to leadership, to people management, and communication.

THE SOCIETY OF SWEDISH ENGINEERS IN GREAT BRITAIN Svenska Ingenjörssällskapet i Storbritannien utlyser stipendium till en svensk THE SOCIETY OF ingenjör för studier i Storbritannien

SWEDISH ENGINEERS IN GREAT BRITAIN

Svenska Ingenjörssällskapet i Storbritannien (SIS) erbjuder ett stipendium till en ung, motiverad och driven svensk ingenjör, som planerar eller redan studerar i Storbritannien på en doktorand eller på magisternivå (PhD eller Masters). SIS bildades 1924 för svenska ingenjörer aktiva i Storbritannien. SIS har sedan bildandet delat ut stipendium för att möjliggöra studier och forskning för svenska ingenjörer på brittiska institutioner, inom alla ingenjörsområden inklusive kemi, el, mekanik, arkitektur, data, geologi, medicin och miljöteknik. Stipendiet SIS stipendium för 2022 är på £5000 (fem tusen pund). Ansökan Din ansökan skickas till Per Olof Emaunelsson på chairman@swedishengineers.org.uk, och skall vara SIS tillhanda senast 30 juni 2022. Ansökan skall inkludera CV, namn på det Universitet/Institution i Storbritannien där sökanden studerar eller kommer att studera vid samt ett personligt brev om hur stipendiet skall nyttjas. www.swedishengineers.org.uk

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Swedish business turning the uk greener Nine companies helping the UK reach net zero

a SAFER ride towards electrified roads How Nefab is handling dangerous goods from broken electric vehilces

GETTING RID OF THE GAS without losing heat Swedish business helping UK homes adjust to the gas boiler ban

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Debatable Issue 14 – November 2013 | Souvenir Edition

A summary of the debates held in the House of Commons by the UK Youth Parliament, 15th November 2013

“Democracy is such a beautiful thing – I want a piece of that” (Georgina Hands, MYP for Lincolnshire Central)

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PREVIOUS EVENTS

nordic m&a forum 10 march On 10 March, the SCC organised the Nordic M&A Forum 2022 – a yearly gathering bringing together stakeholders from across the M&A industry, from banks, asset managers, private equity and advisory firms, from both the City and the Nordics. This year, the conference focused on recent events such as the pandemic, climate crisis and war in Ukraine, and discussed how these affect the Nordic M&A market.

Fredrik Bolander (Lincoln International), Nuala Higgins (Carnegie Investment Bank), Pia Kåll (CapMan Buyout), Jan Olsson (Deutsche Bank), and Hans Årstad (KKR).

The audience gained insights on the state of the Nordic M&A market.

Dr. Johan Christenson (HealthCap) and Shaun Grady (AstraZeneca).

Charlotte Levin (Linklaters), Sergio Ferrarini (Inflexion), Ola Nordbye (Kinnevik), and Ola Nordquist (Permira).

Dominick Mondesir (Pitchbook).

Richard Sissons (DealCloud), and Sarah Hempel (Axcel).

Gabriel Mellqvist, (Dagens industri).

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PREVIOUS EVENTS

Ecosystem exchange: greentech 21-22 March On 21-22 March, the SCC and The British Embassies in the Nordic and Baltic countries organised two half-day sessions for Greentech startups and scaleups at Skanska’s offices in central London. Focusing on one of our times most urgent issues, the programme included panels discussing the business opportunities that exist in the UK market within smart cities and smart mobility, and how startups looking to expand to the UK can tap into these opportunities. Stefan Haase (Whitecap Consulting), Jie Zhou (CISL), Chris Moore (DIT), Ben Foulser (KPMG), and Adam McDonald (Skanska).

James Byrne (Sustainable Ventures), Dave Buckley (Envac UK), and Christian A. Hvamstad (Wastefront).

Anna Crona (SCC), Björn Axelsson (The British Embassy Stockholm), and Jie Zhou (CISL).

Ecosystem exchange: fintech 4-5 april On 4-5 April, The British Embassies in the Nordic and Baltic countries and the Swedish Chamber of Commerce for the UK brought together 15 of the most innovative and ambitious startups and scaleups within the fintech to help them take their businesses to the next level in the UK. During two half-day sessions, held at Level39 and SEB, the selected companies were coached through multiple panel discussions, inspirational speeches, workshops, and networking. Alex Marsh (Klarna Bank).

Carsten Amdi Jensen (Danske Bank), Nick Blake (SEB), Mario Klapsis, and Yusuf Özdalga (QED Investors).

The second day the event was hosted at the SEB offices in central London.

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PREVIOUS EVENTS

business breakfast on the security situation in europe 30 march On 30 March, the SCC hosted a Business Breakfast focusing on the security situation in Europe, its impact on the UK and Swedish business, and society. Featuring Air Chief Marshal Sir Stuart Peach, former Chair of the NATO Military Committee and Chief of the Defence Staff, and Elisabeth Braw, Senior Fellow at the American Enterprise Institute, columnist and author, the breakfast was hosted at Saab’s offices in central London, with the discussions highlighting some of the most urgent and relevant issues of today. After the presentation, the breakfast opened up for questions and further discussions.

With guests from several industries,the discussions included various perspectives.

Nik Gowing (Thinking the Unthinkable), and Sir Stuart Peach.

young professionals after work 31 march On 31 March, the SCC’s Young Professionals organised its first after work event of the year, inviting the young professionals from the community for networking drinks at The Marylebone. We were happy to spot both familiar and new faces in the crowd.

Many young professionals from different industries met up to enjoy the first event of the spring.

Victor Hedenberg (AMBA), Matthew Blakemore (BBFC), and James Perry (Alpha).

Ellen Gustafsson, Maximillian Lee, Lina Björk (Carnegie Investment Bank), Julia Jamison (SCC), Tilda Gustafsson, Marcus Moreen (Hampshire Trust Bank), and Douglas Tönnberg (SCC).

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The community has spoken - rates membership as very valuable

The SCC event offering continues being highly appreciated, and increased number of members rate their membership in the Chamber as ‘very valuable’. These are some of the main results from the SCC’s yearly member survey. “Since the reintroduction of in-person events last year, and our continued work on the attractiveness of our overall offering, we have seen an improvement in the overall satisfaction of the membership. We are very happy about the trust expressed by our members,” says Christoffer Waldemarsson, Membership & Community Manager at the Swedish Chamber of Commerce. BY: JONAS EKLUND

Last year, the Chamber welcomed 69 new members to the community, and saw the patronship grow by 11 new patron businesses. To constantly improve its services and stay relevant to the membership, the Chamber carries out a yearly member survey. “Taking the survey is a way for the SCC members to have their say and let us know what we do well – and what we can do to improve the offering even further,” says Christoffer.

Events offering highly appreciated 94% rate the SCC’s events offering as ‘very good’ or ‘good’, which is a minor decrease from last year’s 95%. “On the other hand, the share of members rating the events as ‘very good’ has increased with one percent to 66%. We will take into account the members’ comments and ideas on how to improve the offering further when planning our events calendar ahead,” says Christoffer.

Continued high perceived value of the membership The survey shows that 87% rate the membership as ‘very valuable’ or ‘valuable’. “This is a slight improvement from the previous year, but the biggest improvement is in the share of members rating the membership value as ‘very valuable’ which increased from 41% to 45%.”

Although the in-person event format has been reinstated, there still seems to be an interest in virtual events. “Two thirds of the respondents say they are likely or very likely to attend a virtual event. We will continue organising events in a virtual setting, such as the popular event with Tom Standage, Deputy Editor of The Economist, predicting the world in 2022 earlier this year. This is a way for us to make the SCC event offering even more accessible across the membership.”

Events continue being the main reason for membership. “While supporting the Swedish-British community remains one of the main reasons for a membership in the Chamber, raising awareness and strengthening the businesses’ brand see the largest increase from last year’s survey.”

More members rate communication as ‘very good’ SCC’s member communication continues to be highly rated in the survey. Just as last year, 99% rate the communication as ‘very good’ or

‘good’. “This is very good news. What is even better, is that we see an increase by 11% in the share of members rating the communication as ‘very good’. The SCC’s social media presence seems to be highly appreciated with 57% giving the platforms a high rating, which is also the case with the Link magazine. 67% give the magazine a rating of either 5 or 4. Based on some of the respondents’ comments, we will look at broadening the distribution even further for more members to receive personal copies.” Still ‘excellent’ on the NPS scale According to the survey, members are very likely to recommend a membership to their network, giving the Chamber a Net Promoter Score of 59,22, which translates to ‘excellent’ on the scale. “This is an improvement from last year when the Chamber scored 57,9. We are very happy about the trust and satisfaction members express in the survey. This is a result we will continue defending and use as a baseline when we improve the SCC offering even further.”

MEMBER SURVEY RESULTS IN BRIEF

87%

FIND THE MEMBERSHIP OFFERING GOOD OR VERY GOOD

 VERY GOOD: +4%

94%



99%

RATE THE EVENTS OFFERING GOOD OR VERY GOOD

MAIN REASON FOR MEMBERSHIP

FIND THE SCC COMMUNICATIONS GOOD OR VERY GOOD

 VERY GOOD: +11%

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UPCOMING EVENTS

Upcoming events The SCC is offering a mix of virtual and inperson roundtables, forums and summits. For our live events, the SCC is continually monitoring government and health guidelines to protect our team and our guests. Along with the venue provider, we want to provide a safe environment. Learn more at scc.org.uk/events.

Young Professionals Masterclass: Build your professional brand with LinkedIn 10 May | LinkedIn London, 123 Farringdon Road, London Welcome to this Masterclass by Markus Frånlund, Global Client Executive at LinkedIn, on how to use LinkedIn to build your professional brand, your network and how to use the platform as a tool to advance your career.

115th Annual General Meeting

9 June | TBC, London On 9 June 2022, we welcome all SCC members to join the 115th Annual General Meeting. As customary, we welcome the 2022/2023 Scholars to the Chamber, with a scholarship ceremony after the AGM.

Business Breakfast with Annika Winsth, Chief Economist, Nordea

5 May | Nordea, 5 Aldermanbury Square, London Welcome to this Business Breakfast with virtual keynote speaker Annika Winsth, Chief Economist of Nordea, on the future macroeconomic landscape for Sweden, the United Kingdom and Europe, addressing the current security situation in Europe, Brexit aftermath and the effects of the pandemic.

Impact 2022

27 May | The Londoner Hotel, 38 Leicester Square, London At Impact 2022 on 27 May, we will be joined by CEO’s from Vattenfall, Skanska, EasyJet, SAS, Polestar – and many more, to discuss the growing calls for a green recovery. You will meet businesses making real impactful changes to their operations, business models being turned upside down, politicians and policy makers working alongside corporates, and the next generation entrepreneurs and ideas shaping our future.

Swedish-British Reception & Dinner

22 August | TBC, Stockholm We are pleased to announce the celebratory and annual Swedish-British Dinner, taking place in Stockholm on 22 August. The dinner is a yearly gathering, bringing together members and friends of the Swedish-British business community, from both sides of the North Sea.

Link Up Drinks with Tiger of Sweden

5 May | Tiger of Sweden, 86 Marylebone High Street, London Welcome to Link Up Drinks hosted with Tiger of Sweden at their store on Marylebone High Street. This event brings together the SCC community for the opportunity to connect with the Swedish-British ecosystem. The evening promises drinks, light snacks and high-level networking, and the opportunity to meet the Chamber’s newest members in a relaxed atmosphere.

Tech Forum 2022

Royal Gala Dinner

27 May | Rosewood London, 252 High Holborn, London Sweden and the United Kingdom have a longstanding history of friendship and trade, and signed a treaty of commerce and friendship already in 1654. Join us at the SCC’s celebratory Royal Gala Dinner, in honour of the relationship between our countries – and in celebration of the deepened ties, reinforced by our joint quest for a sustainable future.

22 September | TBC, London Leading in technology today means taking a visionary lead. Technological development is the architecture of the future, and requires a human-centric approach to fuel creativity, innovation, entrepreneurship and dreams. Join us for the Tech Forum 2022: Boosting creativity, and get inspired by leading innovators and creatives in their fields, hear how they propel their teams to succeed in a competitive landscape, and download their ideas on the latest innovation trends and the next big thing in tech from their perspectives.

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Spotify and Essity finding common ground: A cross-industrial conversation on sustainability

The SCC community is like an extended network of colleagues. Although in different industries and businesses, there is most likely a colleague out there facing challenges similar to those you are trying to crack this very moment. To tap into the vast knowledge of the community, we brought together Hanna Grahn, Sustainability Lead at Spotify, and Jo Pybus, Sustainability and Public Affairs Manager at Essity, for a cross-industrial conversation on sustainability and to exchange ideas on how businesses can accelerate in reducing our environmental footprint. BY: MATHILDA KENNETT

Jo: I’ve been with Essity for 20 years, and only started focusing on sustainability five years ago. An engineer by background, I have had the opportunity to work with everything product supply to retail brand management and product development. I see this as a good thing, as I understand the whole spectrum of what happens in our business and can tailor our sustainability efforts to that. It’s the perfect combination, as I like looking for gaps and seeing where I can make a difference. Hanna: For me it all started back when I was studying finance, and I found myself questioning the lacking inclusion of sustainability within that education. It made no sense to me to exclude it when you put a portfolio together, run an organisation, or start a new business. So, I wrote my thesis about it, and tried to smuggle a bit of sustainability into the curriculum. After graduating, I joined a private equity firm to become part of their new sustainability team. Back then, it was a rather new space within that industry, and I quickly realised that it’s the tech companies, with their speed and innovation, who can combat the climate crisis in time. So, when I got the opportunity to join Spotify and lead their climate related work, I just had to take it.

Hanna Grahn, Sustainability Lead at Spotify. Photo: Spotify.

The defining moment Jo: I have a pretty clear defining moment of when I became interested in sustainability from a career perspective. It was in the middle of a personal crossroad where I wanted a new challenge, and I saw David Attenborough’s documentary “Blue Planet”. It was especially an episode about plastic waste in the seas that inspired me to do something more with the tasks I had, one being a report on our packaging data. I realised I could do something more with it, and took the opportunity to use that data to drive change and educate my colleagues on making our packaging more recyclable. After that, everything just snowballed, and people automatically started coming to me for those kinds of questions, and my role evolved from there.

“David Attenborough said it best when he said ‘just don’t waste’.” Decoding the lingo Hanna: What made me realise I wanted to spend my career in sustainability was that I saw a gap where we had all the science and research, we kind of knew what to do, but we didn’t know how to communicate it in a way that would make everyone understand. The scientists and highly skilled people didn’t speak the same language as eg. financial managers, the people running the value chain, and so on. That’s why the work never took on the magnitude and speed that was needed. I became very passionate about trying to bridge that gap and make sure sustainability isn’t treated as something that is run on the side of businesses. I wanted people to feel like it is a part of their everyday operations. I think, the more comfortable you feel and the more you know about the subject, the more you care, and the more you are likely to take action. Jo: I recognise the problem of using different terms when talking about sustainability. Back during the first lockdown in 2020, we

did some research resulting in our Green Recovery Report, where we asked consumers about their understanding of sustainability and what it meant. The results showed that not only are different things important to different people, but the language that is used is often confusing – what do words like “biodegradable” mean in a practical sense, for example. From a consumer’s perspective, it’s also all about convenience. So, we can nudge behaviours by making it easy to be sustainable, rather than to build it up into something complex and confusing. David Attenborough said it best when he said, “just don’t waste.” A shift in interest Hanna: I would definitely say that it’s a different world today from when I started in this space about seven years ago. As I said, I come from an education in finance, and no one there understood what I did. I was always a bit of the weird one focusing on sustainability. Now, there has been so many people from school, and even previous mentors to me, that have reached out to me wanting to learn more about sustainability. In the past two years, the issue has really trickled through every industry, and the question is no longer if they can do something, but what they can do.

“I was always a bit of the weird one focusing on sustainability.” Jo: I’ve seen that shift too. I’ve been with Essity for most of my career and we have long worked with responsible forestry certifications such as FSC® and PEFC™ and been doing lifecycle assessments since early 1990s. It was never something we shouted about in the past, because the interest from others wasn’t there. Now, we’ve had to learn a whole new way of communicating about it, and that has been a very interesting aspect of the journey for me. Like Hanna mentioned, you must be involved in sustainability now, because so many of the investors, consumers, and other stakeholders are demanding it.

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“If we want people to act or change, we need to get into their hearts, and that is done by storytelling.”

Getting the message out Jo: I think the media has had, and still has, a massive role to play in the dynamics between the different stakeholders in society. Again, referring to David Attenborough’s “Blue Planet”, just look at how it energised a whole movement! Attention and awareness are what will spark change, and media platforms have a great opportunity to do so – providing this is done responsibly.

“Media has a massive role to play in the dynamics between different stakeholders in society.” Another thing I find interesting is how businesses are taking matters into their own hands. Some are starting to take products off the shelves that they don’t deem sustainable, and are requiring suppliers to develop sustainability plans. I think there are some interesting interactions, not only between different stakeholders, but also within the stakeholder groups themselves. Hanna: Something we discuss a lot at Spotify, is what kind of message we want to send out regarding sustainability. There’s this balance to be kept between wanting people to feel hope, because especially younger generations are feeling anxious about the future and the climate, but also communicating the severity of the crisis. There’s also the difficulty of creating a balance between individual actions and systematic change. It’s very interesting working in the digital space in terms of that, because people tend to focus a lot on what to eat, and how to travel to be eco-friendly. Our digital lives and how they impact the environment is something that has flown under the radar. There is not that much research done on the emissions coming from audio and video streaming – that is something we are working on right now and it is super exciting.

Sustainable storytelling Hanna: Our biggest impact is definitely through our platform in terms of talking to scientists and helping to put the message out there. We want to play a different role and package the messages in new ways, because we have the science, we have the solutions, but still, people aren’t taking all the action needed. As world-renowned primatologist and conservationist Jane Goodall argued, if you want people to act or change, you have to get into their hearts, and you get into people’s hearts through storytelling. I think this is the missing piece – to move faster in this aspect you need to make people feel something about the issue, it needs to get closer to people’s realities. That is what Spotify is all about. We have amazing creators that can, either through music, podcasts, or other formats, actually tell stories. We want to reach those who aren’t already interested in sustainability. We have the 10% who are climate deniers, 10% who are climate activists, but the remaining 80% – those are the ones we need to reach, and I think we need to do it through new formats.

“To move faster in this aspect you need to make people feel something.” Jo: It is a very fascinating opportunity you guys have. As a manufacturer, we have a huge responsibility in terms of moving away from fossil fuels and shifting to new solutions. We have some fantastic examples of this, our mill at Lilla Edet using biogas to replace natural gas in Sweden, and in Germany we’ve got a green hydrogen pilot being developed in one of our mills using new innovative technology. I was really interested in the storytelling you mentioned Hanna, because what we try to do is break barriers to wellbeing, and help people live healthy lives, all in the most sustainable way possible. But in order to do that, we need

Jo Pybus,Sustainability and Public Affairs Manager at Essity. Photo: Essity.

to make it easy for people to be sustainable. Hanna: I love what you are saying about making it easy to be sustainable, because it is becoming more evident that being sustainable isn’t a trade-off anymore. Take for example Tesla cars – people are not buying them primarily because they are electric, they buy them because it is a better car than many others. If we can manage to make people feel like they aren’t sacrificing anything to contribute to a better climate, that’s it – that’s when we have succeeded. Finding common ground Jo: I think the biggest challenge to achieve our goals is the current instability in the world. Since there are so many urgent and serious situations happening right now, the climate crisis is fighting for its breathing space. It’s very reassuring to have spoken with Hanna today, it made me realise that our heads are in the same place. Even though we have different challenges and different priorities, fundamentally, we are aligned in what needs to be done. I think Spotify has a very powerful gift in being able to educate through their platform. I will definitely take the storytelling aspect with me; it would be amazing to explore that further.

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IN OTHER NEWS

Sweden opens Office of Science and Innovation in London On 1 January 2022, the Swedish Government established an Office of Science and Innovation at the Embassy of Sweden in London. The office is Sweden’s seventh international office of its kind, set up with the aim to develop and strengthen collaboration between Sweden and the UK, particularly on issues regarding life scinces, export and investment, and research and innovation. Karl-Petter Thorwaldsson, Minister for Business, Industry and Innovation, emphasized the London office’s importance for Swedish export and innovation, and the Swedish government called the UK “a priority country for Sweden and an important partner in areas such as innovation and research, as well as a close ally on many trade policy issues.“

IKEA partners with Channel 4 in new reality series SCC patron IKEA is joining forces with Channel 4, by being part of the new reality series “The Great Home Transformation”. In the six-part series, presenters and TV-personalities Emma Willis and Nick Grimshaw are teaming up to travel around the UK and transform family homes. The BBC Studios series is made in collaboration with IKEA, who is playing an important role in the transformation of the flats. Viewers are invited to follow these transformations, which will be done in three days and involve all different types of flats. The series will air this spring on Channel 4.

plant, which will create up to 1,000 new jobs and start its operations in late 2024. Founded in 1900, Stora Enso has used the site to produce paper and pulp for more than 120 years, but will now be producing batteries, something that goes well in line with the company’s sustainability goals, according to Per Lyrvall, Sweden Country Manager at Stora Enso: “A key focus since our decision to close the site has been to find a new owner that can continue Stora Enso’s long and sustainabilitydriven legacy at Kvarnsveden, to the benefit of the local society“.

BoKlok UK acquires major site in Somerset The home provider, BoKlok UK, owned by SCC patrons Skanska and IKEA, has exchanged contracts on a new land site in Somerset, where it is planning to build 350 new homes. The site is situated in North Petherton in the south-west of the UK. BoKlok’s mission is to deliver “sustainable homes for the many people”, while consulting the local community, and this latest acquire is an important step in the right direction, according to Dylan May, BoKlok Land and Planning Director. “We are pleased to have the opportunity to bring more sustainable living whilst providing much needed housing to this area within Somerset. We are now preparing a planning application, ready to submit in spring 2022.” Over the lifetime of a BoKlok home, a 55% saving of CO₂ is made compared to a traditional house, which is equal to living car free for over 30 years.

Leif Johansson steps down as chairman for AstraZeneca Leif Johansson, chairman of SCC patron AstraZeneca, has announced he is to resign from his position, from 2023. Having led the company since 2012, Leif will have held the role for 11 years when stepping down at next year’s annual general meeting. Following the COVID-created turmoil shaking businesses worldwide, the board of the Anglo-Swedish pharmaceutical producer reportedly asked Leif to stay on his post, after having served nine years as non-executive chairman, to oversee new acquisitions and facilitate the succession planning. It is not yet known who is to succeed Leif as chairman, but the search is reportedly “proceeding well”.

SCC members stop business in and with Russia

Northvolt to turn Stora Enso papermill into Gigafactory SCC patron Stora Enso has signed a letter of intent to divest the Kvarnsveden site in Borlänge to battery maker Northvolt. The plant will be turned into a battery manufacturing

Several SCC patrons and members, including SSAB, Volvo, Ericsson, Electrolux, H&M, Scania, IKEA and Spotify have announced that they are stopping their business with Russia, following the escalating situation in Ukraine. This includes SSAB both suspending the business with the country, and closing its business in Ukraine. Volvo has halted both its production and sales in the country, while Scania has halted its deliveries of automobiles and spare parts. Ericsson and Electrolux are putting their production on pause, along with H&M announcing temporarily pausing all sales in Russia. Furthermore, IKEA joined the growing number of businesses pausing its operations in Russia and Belarus.

Leadership changes at King SCC patron King has announced the resignation of former President Humam Sakhnini, after six years at King and twelve years at Activision Blizzard. The resignation is effective immediately, but Sakhnini will continue to work closely with his successor before returning to the US with his family. The new King President Tjodolf Sommestad, former Chief Development Officer, has been working at King for more than a decade, leading both King’s Games Studios and the technology teams. He has also been Senior Vice President for the Candy Crush franchise and Central Studios. Addiotionally, King Co-founder Sebastian Knutsson, is stepping down as Chief Creative Officer to focus on personal charitable work.

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Electric car brand Polestar to open research facility in the Midlands Swedish electric car brand Polestar will be opening a new research facility in the UK Midlands. The investment which is estimated to the “high tens of millions”, will eventually result in the employment of more than 800 people. Polestar’s existing Midlands facility in Nuneaton, already employing 280 staff, has developed a production platform for the company’s first model that uses its own proprietary technology. Thomas Ingenlath, Polestar’s Chief Executive, said that the UK R&D team is one of Polestar’s greatest assets, in a recent statement.

the “leader” category, Spotify beat Apple as the top podcast provider in 2021 and gained 30 million listeners during the pandemic. With its $45.6bn valuation, Klarna is compared with giants like Mastercard and named one of the list’s most influential “innovators”.

IKEA and H&M to open new store for creatives SCC patrons IKEA and H&M are joining forces to create a new so-called “ideas factory” where artists, creatives and small-scale producers can develop products for sale. The space, called Atelier 100, is the first joint retail venture between the two and will be located in the new IKEA shopping centre, Livat, in Hammersmith. The aim of the collaboration is to find, mentor and promote local designers, who will be able to apply for grants to both develop and sell their products in the store, which is to open in May.

Deepened bilateral security collaboration between Sweden and the UK Swedish PM Magdalena Andersson confirmed that Sweden and the UK are to deepen their bilateral security collaboration following a meeting with PM Boris Johnson in London on 15 March. The same week, the Swedish government announced Sweden’s largest military reinforcement since the 1950s, with reintroduced full conscription as one of the measures. Swedish military defence spending is set to increase to two percent of GDP.

The Swedish government presents new household support fund The Swedish government proposed a new household support fund of SEK14bn to compensate Swedish households for record high petrol and diesel prices. The fuel tax is temporarily reduced, and car owners will receive a oneoff SEK1,000 contribution, announced Mikael Damberg, Minister of Finance. “This is a powerful package of measures in both the short and long term,” says Damberg.

IN OTHER NEWS

Electrolux reduces sea transport emissions by 15% in 2022 SCC patron Electrolux has announced a new partnership with shipping companies Maersk and CMA CGM Group, that will reduce its sea transport greenhouse gas emissions by 15% in 2022. The announcement is part of Electrolux switch to more sustainable fuels, such as biofuel based on waste oils and LNG (Liquefied Natural Gas), used for 25% of its total sea freight. Carsten Franke, Electrolux Chief Operating Officer, says these efforts are important steps on Electrolux journey towards a more sustainable operation: “These partnerships put Electrolux at the forefront in terms of the percentage of the total volume of products being transported in a more sustainable way, and are also supporting the overall market development toward more sustainable practices for shipping goods across the world”.

SSAB and Polestar to develop climate-smart car Vattenfall develops low- and zero carbon heat network in Bristol SCC patron Vattenfall has been selected to help the City of Bristol to reach its carbon neutrality goals, by developing an extensive low- and zero carbon heat network. Vattenfall will be partnering with American energy services company Ameresco as part of the Bristol City Leap project, a 20-year concession to decarbonise the city and attract £1bn of investment.

Klarna and Spotify on The Time’s list of 100 most influential businesses SCC patrons Spotify and Klarna have made the TIME Magazine’s annual list of the 100 most influential businesses to look out for. Listed in

SCC patron SSAB are joining forces with Polestar to research and develop a new climateneutral car. The steel company and Swedish electric car company announced their plans after having signed an agreement, stating their plans on a strategic collaboration. The project is part of the so called Polestar 0 project, which is aiming to eliminate emissions from production and the supply chain, where SSAB:s fossil-free steel will play an important role. “We want to support our customers in their goal to strengthen their competitiveness and market position while helping them to eliminate most of their carbon footprint” says Martin Lindqvist, President and CEO at SSAB.

Got news for us? Email jonas.eklund@scc.org.uk.

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New patrons and Members

NEW PATRONS The patronship of the Chamber consists of a core group of member businesses, all committed to the long-term support of the Swedish-British business community. The patrons are advocates for the members of the Chamber and in return, the patronship comes with a range of added benefits, exclusive access and invites, extended networking opportunities.

FOGEL & PARTNERS Fogel & Partners is a leading Nordic advisory boutique focused on strategic communications. It has many years of experience in advising senior executives in Transactions & Special Situations, Capital Markets Communication and Corporate Communication. The company operates in an international environment, supporting both Nordic and global clients.

NEW members vinge Vinge is a leading Nordic full-service law firm, with 500 expert employees and offices in Stockholm, Gothenburg, Malmo, Helsingborg and Brussels. They build expert legal teams to deliver the advice, guidance and support you need to succeed.

Alvarium invest advisors Alvarium is a global multi-family office, co-investment partner and merchant banking boutique providing tailored solutions for families, foundations and institutions.

clota varde The Clota Värde team works with firms across different parts of the impact financing value chain, on both the buy-side and the sell-side. Clota Värde are a collaborative partner that is able to work closely with the clients’ existing service providers.

The Swedish Chamber of Commerce for the UK is the ultimate business platform for Swedish and UK businesses, representing some 400 companies from across all sectors and industries, and from start-ups, SMEs, unicorns to large corporations. Membership comes with a suite of benefits for you, your colleagues and your business. If you would like to find out how you can maximise your membership, or to enquire about joining, please do get in touch at membership@scc.org.uk. But first, a warm welcome to our newest members.

diversio Diversio is the people intelligence platform that measures, tracks, and improves diversity & inclusion. Diversio’s mission is to bring rigor, data, and analytics to help organisations become more inclusive, setting the global standard for Inclusion. Diversity is the strength, and technology is the advantage to eliminating barriers to diversity & inclusion. Diversio’s global impact spreads over 400 clients across investor, corporate and SME businesses.

flarie Flarie is a rapidly scaling entertainment tech company, providing brands with the opportunity to develop branded games, that entertain and engage global audiences on any device or touchpoint, and in doing so deliver tangible business results.

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nara communications Nara Communications raise the profile of technology startups and scaleups in the international media, helping them raise capital, hire top talent, and increase market share. Its fast-growing team of former journalists, technology experts and writers know how to tell a brand’s story the right way.

nor capital NOR Capital is a Pan-European Corporate Finance advisory firm focused on the Technology, Media and Telecom (TMT) sectors. Over the years, the company have advised on a wide range of transactions, with core services centred around Mergers & Acquisitions (M&A), Capital Raising and Strategic Advisory.

New patrons and Members

No.1 wine and spirits No.1 Wine and Spirits is the international arm of Swedish company AB No1 Production. The essence of the No.1 portfolio comes from Swedish culture; being equal, social and welcoming. With people at its heart, No.1 offers everybody a drink of choice. If it’s a vodka, a gin, rum or Stöms Punsch – No.1 Wine and Spirits have it. Great for sharing – responsibly.

ntex limited By providing the most competent and knowledgeable agents in the industry, Ntex Limited offer convenient and safe transportation solutions. Regardless if it’s global sea freight, air freight, or road transports to Scandinavia and Continental Europe. Ntex Limited are available 24-7.

paam systems PAAM Systems AB minimize and digitalize the use of physical keys, via smart and time saving key management and storage. Customers have gained security and control since the 1980’s, and will now receive even better service through the establishment of the franchise concept across Europe.

senior it executive Senior IT Executive resolves strategic problems within IT in the UK and EMEA. The business operates on a shared risk / reward model meaning limited financial risk and an opportunity for a significant ROI – allowing you to focus on business growth and profibility.

the coin cabinet The Coin Cabinet is taking collecting into the 21st century — a London-based online auction house for those seeking to buy, sell and invest in gold coins at transparent prices. The Coin Cabinet apply a modern approach to a traditional discipline, and a rigorous simplicity to everything it does.

vx fiber VX Fiber is a Swedish technology company – a digital infrastructure specialist, with more than 20 years’ experience building and operating full fibre FTTP (fibre-to-the-premises) open access networks globally. VX Fiber’s mission is to create value in the community in which we live and work, to help individuals, businesses and the community as a whole to gain their digital freedom.

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CHRISTIAN COOLSAET Managing Director of Volvo Trucks UK & Ireland Growing up in Belgium, somewhat of a second home to Volvo Group, the company has been present in most of Christian Coolsaet’s life. “I always looked up to the company. I was really inspired by them, and I remember thinking the people working there were super-humans. Since then, it became an aspiration to be part of that, and suddenly, the opportunity came.” 25 years ago, Christian jump-started his career at Volvo Group as he got the opportunity to join Volvo Bus International in Brussels – and so the journey began. BY: MATHILDA KENNETT

In 2002, the first international opportunity presented itself in the form of a Managing Director role in Ukraine. “My wife and I were only in our mid-30s, and we thought we’d do this for three years, learn Russian, and save up a bit to pay the mortgage on the house we had in Brussels – but then we ended up never coming back. I was very young and inexperienced, but Volvo was willing to take that risk and allowed me to make my mistakes with hope I would learn from them – which I find so remarkable.”

“I was young and inexperienced, but they were willing to take that risk.” Career defining moments Since things started to kick off in Ukraine, to be constantly on the move has been the normality for Christian. From 2002 up until now,

he has worked in several markets including Eastern Europe, Germany, South Africa, and now in the UK. “One career defining moment was when the Executive Vice President Roger Alm himself became my boss in Eastern Europe. We did five years together in Bucharest, which was a fantastic journey. In those days, Romania was the biggest Eastern European market with a very different culture than the UK.” Even though the years in Romania were full of positive experiences, they also came with great challenges, which ended up bringing Christian and Roger Alm closer together. “During the years in Romania, we had to handle the biggest crisis we’ve ever faced – the finance crash in 2009. In a situation like that, there was no guide, you just had learn on the fly. We really did come out stronger from that, and the experience created a bond between the two of us. We still work very closely together to this day.” In the following four years, Christian was part of two expansions. First to Germany, where

Christian Coolsaet has worked within Volvo Group for 20 years. Photo: Volvo Trucks.

Christian served three years as Sales Director for the German speaking countries, including Germany, Austria, and Switzerland. Thereafter, he took a quick detour to South Africa for 15 months to set up the operations, and then came back to Germany as Managing Director. “I find Germany to be a fantastic country to live in, especially the southern parts. If you ask my children, they will refer to Germany as their home territory.”

“I have everything to thank my family for, they have sacrificed so much more than me.” When it comes to Christian’s family, he is very careful to emphasise that without them, this wouldn’t have been possible; “I have everything to thank my family for, they have sacrificed so much more than me. Whenever we moved to a new country, I would still have the Volvo-bubble – they wouldn’t. That is why I think they are even braver than I am, and I couldn’t have done this journey without the full support of them.” We’re too busy focusing on differences Even though culture can differ quite a lot from market to market, Christian emphasises that we are too busy focusing on differences; “I have learned that there are way more things making us similar, so instead of focusing on differences, I’m trying to find more common ground. At the end of the day, we are a global group, and if we can find what makes us similar, we can learn from each other and apply it to our own markets. No matter what culture, people are seeking prosperity at work, with their families, and partners. We just want to build a secure future, it doesn’t matter which nationality you have, which religion you believe in, or what language you speak – that is what we all aspire and work for. Instead of focusing on how to do things differently, we can focus on how to make them more efficiently.”

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Christian always test drives new models himself. Photo: Volvo Trucks.

When asked how you can best adapt to a new market, Christian is quick to answer; “Learn the language,” he says and continues, “people like transparency, they want to know you are genuine, without any hidden agendas. If you truly want to reach people, you need to know their language. I did every effort I could to learn the language of each market I have worked in.” Becoming Managing Director in the UK & Ireland The UK is one of the first markets the company expanded to after Scandinavia and is viewed as important for Volvo Group, employing about 1,000 people. Christian views it as a great honour to have been asked to become Managing Director there in 2020; “I was flattered, it’s an extreme privilege to be asked. I am really humbled by how the company puts so much trust in me as a person. Christian joined as Managing Director in the UK and Ireland in the beginning of July 2020, just a couple of months into the pandemic. This combined with the insecurities caused by Brexit, all of a sudden, the flashbacks of 2009 started to come back, but had also prepared him well; “Again, it was all about handling the agenda, and it was clear we needed to prepare for whatever scenario might occur. The specifics of the agenda, along with the influence of my boss, was what really appealed to me and led me to the UK.” The easiest – and most complex question When asked about his vision for Volvo Trucks UK and Ireland in the long term, he says it’s the easiest, yet the most complex question;

“The entire industry is standing on a crossroad, and the fact that the road we’ve been on for decades is going to end is crystal clear. We have an obligation towards the planet and towards future generations to be sustainable. It is my task to get sustainability into the heads and hearts of the people in this organisation.” “The main focus for us is to break the stereotypes and think in new ways to ensure a sustainable future. We signed a charter at COP26 last year in Glasgow to be amongst the early movers worldwide. So far, we are succeeding. We already have electric heavy haulage trucks on the UK roads and are moving towards being the first manufacturer in the world with a full line-up of battery electric vehicles. In the foreseeable future, we will also come out with a hydrogen solution.”

“It is my task to get sustainability into the head and hearts of the people in this organisation.” It starts with the man in the mirror Christian emphasises that even though it might be comfortable to rely on old solutions, it’s time to move on; “Let’s not be nostalgic about the past – it’s gone – let’s try to prepare. It’s up to the brave on this planet to make that change.” He continues; “Michael

Jackson used it in a different context, but it really does start with the man in the mirror.”

“When people feel secure and like they are free to express themselves, so much creativity comes out.” People are “insanely talented” To get things moving and make the team think in new, sustainable ways, Christian believes the key is to express trust, and to stay away from being too polite; “I believe people are good the way they are, there is no need for all that ‘fluffy’ language for the sake of politeness, “he continues, “when people feel secure and like they are free to express their opinion, so much energy, brainpower, and creativity comes out. If there is one thing I’ve learnt after all these years, is that people are insanely talented – and it’s my job to create the atmosphere and provide the tools to make that talent blossom.”

ABOUT VOLVO TRUCKS The first Volvo truck was born in 1928. Since then, it’s grown to become the largest producer of heavy trucks in Europe. The company was brought to the UK by the duo Jim Kelvie and Jim Keyden in 1967 under the name Alisa Trucks, celebrating 55 years this year.

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