In today’s digital economy, businesses face challenges in simultaneously meeting their environmental, social, and governance (ESG) targets and ensuring robust cybersecurity and privacy measures. These concerns have been at the forefront of global risk maps for several years. While environmental aspects of the ESG agenda have received significant attention, other elements such as cybersecurity and privacy have not been as well-developed. This is concerning as cyber threats are soaring in frequency — impacting business operations, continuity and reputations.
There’s growing pressure for businesses to exhibit transparency regarding their corporate commitment to cybersecurity and ESG. Cybersecurity has garnered increased attention from regulators, who now demand prompt and comprehensive incident notification, as well as disclosure of an organization's cybersecurity control maturity. Furthermore, the intersection of cybersecurity and the ESG agenda has assumed a pivotal role in shaping the future of corporate social responsibility.
This paper aims to explore the connection between ESG and cybersecurity. It delves into the advantages of managing these issues in unison and how an integrated approach can safeguard an organization's well-being, secure its future, and protect the interests of customers, clients, and business partners. By addressing cyber risks within the broader framework of ESG, companies can effectively safeguard their operations, customers, and reputation while fulfilling their wider social and environmental obligations.
