Magnus Krusberg, head of PA Consulting in Stockholm, is quoted in Deutsche Bank Wealth Management's print magazine Werte. In the article, he discusses why Sweden is leading the world with its sustainable business agenda.
What outsiders tend not to realize about Sweden, Magnus says, is that many of the apparent drawbacks to doing business in the country are actually advantages, especially when it comes to sustainable and impact businesses.
Take the tax system, for example – the tax burden on most employees is huge, at between 50 percent and 60 percent, but it funds social innovation. “Yes, we have pretty high taxes, but we like it that way,” he says.
“The tax system is used by the government to drive sustainable behaviour, encouraging less water use and lower carbon emissions. And because we have a relatively high-cost workforce, we have to be efficient. That encourages sustainability, the most efficient use of resources.”