IVA's President: some thoughts on Greenhushing

Dear IVA Friends, 

At this time last year, the U.S. election campaign was in full swing. Joe Biden had stepped aside to make way for Kamala Harris as the Democratic candidate. Donald Trump had survived an assassination attempt and was now dominating the agenda. Trump was—and is—a force the whole world must reckon with.

Not a day goes by without Trump in the headlines. While that is not surprising, it is remarkable that we all know his opinion on nearly every event and phenomenon that happens. No other president or leader has come close to this level of media dominance.

What does this do to us, and how do we deal with it? Europe’s leaders—Starmer, Merz, Macron, and von der Leyen—are doing their best to navigate the difficult balancing act of engaging with such an unremitting and unpredictable force as Donald Trump. A great deal is at stake—above all, our security and safety. It is almost existential. But can we really say that Sweden’s and Europe’s security lies in Trump’s hands? My answer is both yes and no.

Yes, because the United States, as the last remaining superpower, still serves as a guarantor of peace in Europe—though its president now favors short-term deals over steadfast alliances and substitutes trust for transactionality. And no, because the past six months have led to a sea change in Europe. I am of course referring to the EU’s plan to re-arm Europe. At this rate, we will soon be fully capable of providing for our own security. I am cautiously optimistic about the future.

Business has taken a variety of approaches to Donald Trump’s cultural and political makeover. Some European and American companies have reshaped their communications and public image around efforts to combat global warming—an issue Trump dismisses as a “hoax.” Media reports seem to suggest business has abandoned the fight against climate change. But what’s really happening behind the headlines?

The July 29th issue of The Economist addressed exactly this: companies that once loudly promoted their climate efforts have now adopted a more discreet communication strategy. But the fact is, business is not pulling back on climate work. According to a PwC survey of 4,000 large companies worldwide, 47 percent are holding firm to their climate commitments, and 37 percent have become even more ambitious. Another analysis, from the Science Based Targets initiative (SBTi), highlights that the share of companies that include scope 3 emissions in their climate goals rose from 28 percent in 2022 to 67 percent in 2024.

The conclusion is that companies are, in practice, not retreating from their climate efforts—if anything, they are doing more. But they are not talking about it. This is known as “greenhushing”–—a play on “greenwashing.” Essentially, greenhushing means

companies are indeed working on the green transition, but they are keeping a low profile in the current political climate.

My own impression from meetings with Swedish business leaders is that their green transition is accelerating and is seen as core business. I don’t really see that greenhushing is a trend in Sweden. In my view, Swedish companies seem proud of their climate efforts and don’t hesitate to highlight them in their communications and brand-building. That is a wise strategy.

Now we are entering an autumn in which the global situation is dramatic, to say the least. The developments in Ukraine remain by far the most important issue for Europe’s security. Any outcome besides an immediate end to Russia’s war of aggression and full withdrawal from occupied and annexed territories is unthinkable. The EU’s solidarity with Ukraine is strong but could be even stronger, especially when it comes to defense materiel. Against this backdrop, I have invited Sweden’s Minister of Defense, Pål Jonson, to a discussion at IVA later in September on Europe’s security and the future of defense research. You are warmly welcome to listen in—register here.