Repport on "Cyber resilience in the electricity ecosystem
BRUSSELS. February 13 2019: Repport released : 𝐂𝐲𝐛𝐞𝐫 𝐑𝐞𝐬𝐢𝐥𝐢𝐞𝐧𝐜𝐞 𝐢𝐧 𝐭𝐡𝐞 𝐄𝐥𝐞𝐜𝐭𝐫𝐢𝐜𝐢𝐭𝐲 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦: 𝐏𝐫𝐢𝐧𝐜𝐢𝐩𝐥𝐞𝐬 𝐚𝐧𝐝 𝐓𝐨𝐨𝐥𝐬 𝐟𝐨𝐫 𝐁𝐨𝐚𝐫𝐝𝐬, the World Economic Forum ‘s latest publication to which ENGIE Laborelec contributed. The report has been developed in conjunction with the Forum’s electricity industry community and Boston Consulting Group (BCG). It aims to address the particular needs of businesses operating in the electricity ecosystem.
Cyber resilience is a challenge for all organisations, but, due to its vital role as a societal backbone, it is of particular importance for the electricity ecosystem.
The power grid is an increasingly popular target for cyber threat actors: including hacktivists with the aim of causing civil unrest or state-sponsored groups performing espionage activities. Moreover, electricity organizations operate in an interconnected and interdependent environment where the consequences of a cyber attack on one can cascade to numerous others. Combatting this growing risk requires leaders to shift their thinking on cyber resilience in two fundamental ways:
1. Understand that cyber risk is a business and ecosystem-wide risk – not an IT risk – and integrate cyber risk management into all business decisions
2. Understand that managing cyber risk in such an interconnected environment requires that leaders think beyond the cyber resilience of their own “houses”, towards the cyber resilience of the broader “neighbourhood” of suppliers, customers, competitors, peers, and regulators among others.
This report developed by the World Economic Forum in collaboration with electricity industry partners including ENGIE Laborelec and Boston Consulting Group offers principles to help board members meet the unique challenges of managing cyber risk in the electricity ecosystem. ENGIE Laborelec made a substantial contribution to this report. “I am delighted to be a part of this unique platform bringing together academics, public sector leaders, and senior business executives,” said Olivier Vandelaer, Director Cybersecurity of ENGIE Laborelec.
Don’t hesitate to download, the report is in free access.