Experts say that nothing shapes behavior more than one’s environment. But is the same also true for businesses?

Just look at Sweden: patience and sustainability are baked into Swedish culture, a result of a long-held belief that making responsible decisions will have a positive impact on the wider world.

That mindset is present not just in society, but in boardrooms, too. So perhaps it’s no surprise that Sweden has produced multinational companies such as IKEA, H&M, Saab and Volvo, as well as innovative tech companies like Spotify and Skype.

Born and raised in Sweden, that attitude has underpinned EQT’s business strategy since its inception in 1994.

See, when founder Conni Jonsson established EQT, he was inspired by the well-known Wallenberg family’s commitment to upholding responsible ownership over six generations.

As a result of that influence, the fundamental business philosophy at EQT has been – since the outset – to invest in good companies, adopt the mindset of a long-term owner, and enhance them so they are fit to drive better results for themselves and the wider society over the long term.

That active ownership approach is designed to flow into the world at large. EQT believes that by making individual businesses more efficient, capable, and responsible, revitalized firms will contribute more good as they operate.

It helps, of course, that EQT sets high performance standards, while encouraging portfolio companies to integrate sustainability practices into their own business models.

As Simon Griffiths, EQT’s Head of Future and former Managing Partner for Bain & Company, puts it: “EQT always had a very pragmatic view of business. That is, the only way to build a good society was with a good economy and responsible companies. It has always influenced every single business that we approach.”

Griffiths points out key milestones in EQT’s history that highlight its commitment to ethical and sustainable business practices.

“This way there’s no hiding and less politics,” Griffiths says. “You get real accountability and much more transparency. We don’t always get it right. Nobody does, of course.

Finding the right balance in making money and investing in the long term, which people have come to expect from us, can be complicated and each business is different. But we always make sure we are doing our best to create long-term value in our portfolio companies.“