The world is jeopardized by several social and environmental threats. The limited resources are being used at a rapid rate which contributes to negative effects on global warming. Along with increased poverty, human rights are being violated and labor is exploited. Therefore, sustainability is perhaps a more urgent topic than ever. CSV is proposed as an answer to these environmental and social threats, which is identified by a gap in the concept of CSR. Sweden is a leading country in terms of sustainability, and therefore the purpose is to gain knowledge on how Swedish companies work with shared value creation in their sustainable practices. This study follows an interpretive philosophy through a qualitative study, and semi-structured interviews are conducted with six companies. The empirical data is analyzed through coding where four themes are evolved. This study develops existing concepts through an inductive approach and further proposes that the companies pursue CSV by the mediating role of CSR. Sustainable innovation, innovative raw materials, and digitalization are the major contributors to shared value creation. Sustainable development goals and science-based targets are essential tools to guide companies toward a sustainable future. However, two barriers to pursuing shared value creating activities are being a small company and adapting to the local context.