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The high‑level symposium was hosted by the Center for Transformative Innovation at the House of Innovation, together with the House of Governance and Public Policy and the House of Sustainable Society. 

President of the Stockholm School of Economics, Lars Strannegård, opened the symposium by highlighting the value of bringing together diverse actors for the first joint event between the three research houses, emphasizing the remarkable knowledge and experience gathered in the room. 

After a warm welcome from Laura Hartman, Associate Professor and board member at the Stockholm School of Economics, participants from different industries came together to examine how cross‑sector partnerships can shape the next phase of Europe’s sustainability transformation. 

Key insights emerging from the discussions include:  

• The green transition requires coordinated multi‑level governance: success depends on strong coordination between local initiatives, national policy and regulation, and EU-frameworks that provide long‑term direction, competitiveness, and resilience. 

• Financing challenges persist for large‑scale industrial and infrastructure projects, but the event highlighted growing interest in innovative public‑private financing models, shared ownership structures, and risk‑distribution mechanisms that can unlock capital at scale. 

• Market transformation cannot rely on isolated actors or sectors. Regulation, innovation, infrastructure, public procurement, and private investment must be orchestrated together, with early coordination to accelerate project delivery and reduce delays. 

• Geopolitical uncertainty increases the urgency of developing domestic capabilities, strengthening resilience, and ensuring predictable long‑term policy commitments. Europe must balance international collaboration with selective self‑sufficiency in critical technologies and supply chains. 

Laura Hartman and Sara Modig. Photo: Juliana Wolf.

Setting the stage: Global transitions, local responsibilities 

The first keynote speaker, Sara Modig, State Secretary to the Minister for Energy, Business and Industry, said Sweden’s approach to the green transition must be grounded in an understanding of a rapidly changing world where technological leadership, economic security, and geopolitical competitiveness increasingly intersect.  

She outlined the government’s priorities:  

• strengthening Sweden’s energy supply 
• simplifying regulation 
• reducing administrative burdens (including major permitting reform) 

Modig also highlighted the need to work closely with like‑minded countries to reduce vulnerabilities, and to accelerate innovation in key areas such as AI, quantum technology, energy technology, and biotechnology. 

Frank Geels. Photo: Juliana Wolf.

Professor Constantin Blome, newly appointed Chair in Transformative Innovation and Director of the new Center for Transformative Innovation, introduced the second keynote speaker.  

“When it comes to understanding how transformations unfold,” Blome said, “there is really only one person to talk to: Frank Geels.” 

Professor Frank Geels, Alliance Manchester Business School and Distinguished Visiting Professor at the House of Innovation, delivered a provocative and engaging keynote that placed Europe’s green transition in a global and long‑term context.  

He emphasized that socio‑technical transitions typically unfold over 30–50 years and progress through distinct phases, from building new systems to adapting institutions, enabling mass diffusion, and ultimately phasing out the old.  

He argued that while Europe has made clear progress in scaling renewable energy, it now faces mounting competitive pressure as China’s clean‑tech policies have been earlier, stronger, and more coordinated. China, he said, has combined long-term strategic vision with heavy industrial investment, deep supply chains, and a highly dynamic entrepreneurial ecosystem, allowing it to surpass Europe and the U.S. in many emerging technologies. 

Geels warned that Europe is currently “scrambling” to respond, as key industries such as automotive to steel come under pressure from rapidly advancing Chinese capabilities. He said carbon taxes alone are increasingly insufficient, with social acceptance and geopolitical tensions shaping transition pathways (in addition to technology and policy).  

A central message was that phasing out incumbent systems requires deliberate strategies for those who stand to lose, whether workers, regions, or entire sectors.  

Geels concluded that we are entering a new era of green transitions marked by complex geo‑economic competition, strategic uncertainty, and unresolved academic and policy puzzles that will define the next decade. 

Laura Hartman, Carl Bennet, Henrik Lundh, Kristina Sundin Jonsson, Philip Ajina and Gustav Martinsson. Photo: Juliana Wolf.

Panel 1: Funding gaps in the green transition 

Moderator: Gustav Martinsson, Professor of Finance, Stockholm University, and House of Sustainable Society, Stockholm School of Economics 

Panelists:  

• Carl Bennet, Founder and owner of firms such as Getinge, Elanders, and Lifco 
• Henrik Lundh, Head of Alternative Investments and Real Estate at AMF Pension 
• Kristina Sundin Jonsson, Director of Skellefteå Municipality 
• Philip Ajina, CEO Infranode 

The first panel seemed to agree that while large pools of capital exist, the real challenge lies in aligning risk, timelines, and responsibilities across sectors.  

Carl Bennet stressed that regulation often slows progress, and argued that Sweden must invest far more aggressively in research, education, and infrastructure to stay competitive, especially when technologies are still "unknown,” or in early stages, and require public support.  

Henrik Lundh noted that institutional investors will only step in when the risk‑adjusted return is sound, emphasizing that early‑stage R&D and talent development must be publicly funded to unlock private finance at scale.  

From a municipal perspective, Kristina Sundin Jonsson described the Northvolt establishment in Skellefteå as a “total societal transformation,” showing how local governments, civil society, and industry must co‑act to build resilience, attract talent, and maintain legitimacy during rapid expansion.  

Philip Ajina talked about the importance of new collaborative ownership models, pointing to Infranode’s co‑investment structures with municipalities as examples of how public–private partnerships can distribute risk effectively in critical infrastructure.  

The panel concluded that innovative financing models grounded in shared ownership, clearer regulation, and coordinated action will be essential for enabling the next wave of green industrial investments. 

Suvi Nenonen, Linn Andersson, Kristina Alvendal, Joachim Nordin and Marcelo Paiva. Photo: Juliana Wolf. 

Panel 2: Orchestrating market changes for the green transition 

Moderator: Suvi Nenonen, Professor of Marketing, Stockholm School of Economics 

Panelists:  

• Linn Andersson, EVP Strategy & CTO Boliden  
• Kristina Alvendal, National Industry Coordinator, Swedish Acceleration Office  
• Joachim Nordin, CEO Skellefteå Kraft AB   
• Marcelo Paiva, Co-Founder of A10 Invest and Co-Chairperson of Sigma Lithium 

The second panel discussed how market creation is a central challenge in the green transition and noted that breaking persistent silos between public and private actors is essential for accelerating change.  

Linn Andersson sent giggles across the room when she said collaboration often starts with openly sharing your “shitlist.” It’s a good way to find common ground, she said, since organizations often share the same challenges.  

Kristina Alvendal said Sweden excels at discussing cooperation but rarely delivers it in practice. She pointed to slow, fragmented administrative processes as a barrier, calling for more public agencies to take on a more advisory role, clearer timelines, and improved public procurement rules to ensure the public sector can also lead as a customer.  

Joachim Nordin echoed these concerns, stressing that “if we can’t collaborate, we won’t succeed.” He also argued that Sweden cannot rely solely on market forces. Instead, he urged the development of a shared national strategy to create demand, strengthen competitiveness, and accelerate project delivery through early coordination. 

Marcelo Paiva noted that early-stage capital remains scarce, and when available, often comes with demands that small companies struggle to meet. He warned that clean-tech businesses operate at vastly different speeds than public institutions and that building sustainable companies is inherently more expensive in a global market still reluctant to pay the “green premium.”  

Together, the panel made clear that shaping green markets requires active state involvement, strategic corporate leadership, and collaborative platforms capable of aligning incentives across entire ecosystems. 

Valentina Tartari, John Hassler, Rikard Eriksson, Helene Hellmark Knutsson och Darja Isaksson. Photo: Juliana Wolf.

Panel 3: National and international innovation policy in times of geopolitical strife 

Moderator: Valentina Tartari, Jacob and Marcus Wallenberg Professor of Innovative and Sustainable Business Development and Director of the Jacob and Marcus Wallenberg Center for Innovative and Sustainable Business Development at the House of Innovation, Stockholm School of Economics.  

Panelists:  

• Professor John Hassler, Institute for International Economic Studies (IIES), Stockholm University 
• Professor Rikard Eriksson, Umeå University 
• Helene Hellmark Knutsson, County Governor of Västerbotten 
• Darja Isaksson, Director General of Vinnova 

The final panel talked about geopolitical instability and argued that it should not diminish the need for a green transition. If anything, it should heighten the urgency of building domestic capabilities, strategic autonomy, and resilient innovation systems.  

John Hassler said green growth is possible, but that it requires credible long‑term policies that phase out fossil fuels, support social acceptance, and keep Europe open to global cooperation. 

He warned that Europe’s fragmented capital markets and internal trade barriers make it difficult to compete with the U.S. and China.  

“Despite these challenges,” he said, “we cannot give up on international collaboration.”   

Rikard Eriksson compared Europe’s search for a new identity with a “middle‑age crisis,” and said innovation policy must be evaluated on both competitiveness and on how risks and benefits are distributed across regions. Fragmented governance, he noted, has repeatedly hindered coordinated responses, not least during the Covid-19 pandemic. 

Helene Hellmark Knutsson pointed to regulatory bottlenecks as another major constraint, especially rigid EU-regulation that prioritizes perfection over practicality. She called for a shift away from “perfect decisions” to decisions that are “good enough,” as a first step in accelerating critical projects. She also noted that a country like Sweden relies on large international markets to succeed, which makes functional free trade within Europe essential. 

Darja Isaksson said the green transition has become inseparable from national security, resilience, and technological sovereignty. She stressed the need for a broad policy toolbox and shared capabilities, warning that Europe spends heavily on incremental innovation but underinvests in the radical, high‑risk innovation needed for long‑term competitiveness.  

She concluded the conversation by saying Europe must carefully choose where it strengthens autonomy and where it partners with the U.S. or China.  

“We need to be able to collaborate with everyone,” she said, “just not on everything.”  

In summary: Governing complexity through collaboration 

The symposium demonstrated that accelerating the green transition demands coordinated action across all levels of society.  

Speakers emphasized that while Europe has strong ambitions and capability, it must strengthen its competitiveness, streamline regulation, invest in innovation, and build more resilient governance structures.   

The need for new financing models, cross‑sector collaboration, strategic market creation, and policies that can withstand geopolitical volatility were all high on the panelists' wish list.  

Across participants from government, industry, and academia, a shared message emerged: the green transition is not only a technological shift but a complex governance challenge that requires long‑term commitment, collective problem‑solving, and the ability to adapt quickly in a rapidly changing global landscape. 

Thank you to all the fantastic speakers, participants, and the lively audience, for a great evening!