Cybersecurity is becoming increasingly important in the context of the ESG (Environmental, Social and Governance) framework. Financial markets, investors, and customers are now looking positively on companies that meet these criteria; in fact, cybersecurity has become a top priority for companies seeking to improve their ESG practices. As a matter of fact, every security incident can have a significant impact on people, organizations, partners, investors, supply chains, and communities. Moreover, there can be no sustainability without service resilience and data protection.
Security is a priority for companies committed to sustainability. Personal data and information held by companies represent a precious asset. Therefore, it is essential to protect them from hackers and cyber-attacks.
Within the Governance side, it is important for companies to include a comprehensive and effective cybersecurity strategy. This must be based on awareness and training of employees, creating processes for data management, risk management, data protection, and establishing monitoring and incident response systems. These processes must include adequate cyber incident response capabilities, going beyond simply providing insurance coverage.
Cybersecurity is not an issue that can be addressed and solved in a single step. It is a continuous process, and companies must implement proactive measures to stay abreast of evolving threats.
In conclusion, it is important to take into consideration an effective Cyber Risk Management when assessing the "G" criterion, since companies that are well-structured and have proper methods for reducing cyber risks will be able to achieve and maintain sustainability, robustness, and reputation in their respective industries.
