~The study aims to understand and map the green transition of Swedish companies in India and to make recommendations to further this agenda. ~
September 2022:In the presence of Sweden’s Ambassador for Sustainable Business, Cecilia Ekholm, leaders from Swedish companies, and other stakeholders, Team Sweden[1] in Indiahas released a report titled ‘A Green Journey- Swedish Companies in India’. This is based on a study conducted amongst 49 Swedish companies in India in two phases during 2021 and 2022. A majority of the companies are manufacturing in India.
The purpose of the study is to understand how Swedish companies in India work with green transition in and around their offices, facilities, their operations, and value chains, and to highlight best practices and identify areas for future collaboration.
The study demonstrates how Swedish companies are at the forefront of the green transition. Environmental sustainability is a strategic issue for all Swedish companies and almost all are going beyond compliance to improve environmental performance, while recognising thatthere is more to do.
One of the key areas highlighted in the report concerns water conservation. The report identifies that 43 % of the companies have water conservation targets and that 78 % have undertaken water conservation initiatives. Moreover, 51 % of the companies harvest rainwater.
Another important topic in the report is material conservation. 67% report that circularity is a key issue in their sustainabilityagenda. Almost all companies make efforts to reduce waste and 55% use recycled raw materials in their products or packaging.
A third area which the report identifies as vital is energy. 45% of the companies have set energy reduction targets includinggoals related to transportation. Furthermore, 51% of the companies report making technological or process changes to reduce their energy consumption.
Commenting on the use of the study, KlasMolin, Ambassador of Sweden to India, said, “Sustainability has become a cornerstone of the Sweden–India partnership. Our countries’ shared goal of enabling and expediting a green transition is a common thread in our bilateral exchanges, joint partnerships, and business opportunities. For long-term sustainability to succeed, government, academia and industry must all contribute.
To embark on this green journey, we must understand where we are starting from. This study, mapping the sustainability efforts of almost 50 Swedish companies in India, is an important step in this regard. It is highly encouraging to see Swedish companies at the forefront of sustainable business practices. We hope that the challenges and opportunities laid out in the report can act as a springboard for deepened innovation collaboration and further green investments.”
Ms. Cecilia Ekholm, Sweden’s Ambassador for Sustainable Business, who is on a week-longvisit to India,says, “Sustainable development is an integral part of all we do, with the strong belief that it is through investments in innovation and circular business models that jobs of the future will be created, and the environment protected. This study offers a baseline of the green initiatives of Swedish companies and identifies best practices and challenges. Furthermore, it aims to strengthen collaboration between Swedish and Indian businesses and representatives to propel our journey towards a green future for all.”
Sara Larsson, Head of the Swedish Chamber of Commerce India comments “The Swedish business community is committed to holistic and integrated sustainability in all areas of business. Bringing companies together on the road to a green transition leads to synergies and accelerates the growth needed to make the shift to a green future.
Ourstudy highlights the work being done by the Swedish companies in India towards environmental sustainability- where we are today, where we need to be tomorrow and the steps we need to take to arrive there.
This journey requires vision and passion and involves everyone. Ideas and change coming from inside the organisations are powerfuland listening to the voices of those around us is critical to move further.”
[1] Team Sweden in India consists of the Embassy of Sweden in New Delhi, the Consulate General of Sweden in Mumbai, the Swedish Chamber of Commerce India, and Business Sweden.
