For Vattenfall, a Sweden-based energy company, sustainability is crucial to achieving competitive advantage and an integral part of doing business. The company has three products—electricity, heat, and gas—and its core markets are Sweden, Germany, and the Netherlands.
How, exactly, is sustainability influencing the company’s strategy, practices, and governance? The Boston Consulting Group’s Ingrid Velken sat down with Andreas Regnell, Vattenfall’s head of strategy and environment, and Agneta Rising, the company’s head of environment, to discuss how the company is integrating its sustainability agenda into its overall strategy. The interview was conducted as part of an ongoing research initiative by BCG and MIT Sloan Management Review. The purpose of the interviews is to gather diverse views on the ways that sustainability is driving change in business strategy, practices, and leadership.
Ingrid Velken: How does your company define sustainability?
Agneta Rising: We use the “triple bottom line” definition: economic, social, and environmental impact.
Andreas Regnell: It can also be presented very simply as caring about our people, planet, and profit. We work toward ensuring profit for the company while limiting our environmental impact and maintaining security of supply (which is a prerequisite to staying in business).