Sustainability challenge and related SDGs
Digitization brings with it countless benefits. However, it also brings risks, for example for critical infrastructures, which can be threatened by cyberattacks and spyware. Hospitals, power plants, government agencies and businesses – but also you and your family – can be at risk of being attacked. The goal of such cyberattacks is to extort ransom, steal data or disrupt operations. And in many cases not only data is at risk but also human lives.
Persistent cyberattacks undermine trust in national and international institutions and exacerbate conflicts. Cyberattacks impact human security, economic stability and the development potential of a country or region. Most of the institutions affected are of particular importance to the achievement of the SDGs and ultimately benefit the population. Therefore, #cybersecurity has an impact that goes far beyond the primary SDG 16 “Peace, justice and strong institutions.”
Primarily impacted SDGs: 16
Possible solutions and their contribution to achieving the SDGs
#Cybersecurity is an umbrella term for everything to do with security in the world of information technology. While some companies offer total solutions ranging from software and hardware to risk consulting, others focus on very specific aspects of IT security. Examples include biometric authentication, cyber threat analysis services, end-to-end encrypted voice and text communications, managed firewalls, endpoint protection or preventive monitoring.
Facilities and businesses that are protected against cyber threats are more resilient. They can withstand attacks or recover quickly after an attack has occurred. This means that the services and products they offer continue to be available without significant interruption. #Cybersecurity supports the development of effective institutions and the prevention of crime (SDG targets 16.6 and 16.a).
Primarily related SDG Targets: 16.6, 16.a
Investment Rationale and Growth Potential
To achieve the SDGs, #cybersecurity is particularly important. While the digitization of society continues, the associated cyber risks and threats are still underestimated. Gaps in #cybersecurity can challenge or even undo the progress made in society.
Institutions and businesses that want to succeed will continue to invest in #cybersecurity. Likewise, malicious actors will continue to improve their approach and keep companies that provide #cybersecurity busy. As digitalization increases, #cybersecurity will become even more important.