The Intersection of Green Energy and Cybersecurity: Building Resilience for a Sustainable Future

In today’s world, organizations are grappling with two critical issues: environmental, social, and governance (ESG) considerations, and the digital transformation that is reshaping industries. It’s no surprise that companies are seeking solutions that address both these concerns simultaneously.

According to The Global Risks Report 2023-18th Edition from the World Economic Forum, environmental risks top the list of long-term global risks. This includes failure to mitigate climate change, natural disasters, biodiversity loss, and large-scale environmental damage incidents. Additionally, the report highlights the increasing risk of cybercrime and cybersecurity breaches in a technologically dependent world. Organizations must find ways to align these environmental and technological risks.

One of the key strategies to combat the climate crisis is the transition to green energy. However, the adoption of renewable energy sources has been hindered concerns related to cost, reliability, and dependence on weather conditions. But thanks to technological advancements such as smart grids, energy storage capacities, and artificial intelligence (AI), renewable energy is becoming more stable and economical.

The National Grid Group, an energy company working towards a clean energy future, defines green energy as energy that is created and sourced without damaging the environment. This includes sources like wind and solar power. It’s important to note that while most green energy sources are renewable, not all renewable energy sources are classified as green. Carbon emissions play a role in determining whether an energy source can be considered green or not.

The transition to green energy heavily relies on digital transformation and disruptive technologies. Integrating different types of renewable energy into the bulk grid requires a two-way flow of power and information, which can be effectively managed a smart grid. However, this digital transformation introduces a new set of challenges in the form of cybersecurity risks.

The smart grid’s network topology brings benefits such as efficacious and stable power. However, it also comes with cyber considerations. Various energy resources with no clear cybersecurity focus, considerable interconnections with web-based platforms, and data security and privacy concerns are some of the cybersecurity challenges organizations must address.

To combat these challenges and minimize the impact of environmental risks, organizations should invest in renewable energy powered large-scale digital transformation. However, they must also be aware of the vulnerabilities and risks enabled cybercrime. Building cyber resilience becomes crucial in this context.

Building cyber resilience in the face of evolving cyber threats can be challenging due to antiquated digital infrastructure and the increasing vulnerabilities brought about the Internet of Things (IoT). To enable the benefits of green energy, organizations need a resilience strategy, a governance framework, and robust cybersecurity technologies.

The EY Trust Design methodology provides a comprehensive approach to cybersecurity. It helps organizations create secure digital environments, safeguard sensitive data, and build trust among consumers and stakeholders. This methodology also instills a risk optimization mindset and integrates trust into services and products from their inception.

To overcome cybersecurity challenges, organizations should prioritize governance and oversight, asset visibility, reliable technology, trusted components, supply chain and third-party risk management, AI-based monitoring and detection, and incident response plans.

In the Philippines, the government is actively promoting the development of renewable energy sources as part of its sustainable energy agenda. The National Renewable Energy Program (NREP) aims to expand the country’s renewable energy-based capacity 2030. The Green Energy Option program allows consumers to purchase electricity from renewable energy facilities, further driving green energy adoption in the country.

In conclusion, as the world transitions to green energy, ensuring cybersecurity becomes increasingly crucial. Companies must invest in both renewable energy and robust cybersecurity measures to mitigate risks effectively. Building cyber resilience, adopting governance frameworks, and implementing comprehensive methodologies will help organizations achieve their business objectives while creating a sustainable future.

Sources:
– The Global Risks Report 2023-18th Edition, World Economic Forum
– National Grid Group
– EY Trust Design methodology
– Government of the Philippines, National Renewable Energy Program (NREP)