Investors are well-placed to play a crucial role in helping portfolio companies and potential new investments prioritize cybersecurity, beyond the regulatory compliance and legal obligations – according to the latest report from the Center for Cybersecurity at the World Economic Forum (the Forum). S&P Global(NYSE: SPGI) is in support of the Forum’s efforts and their new report titled “Incentivizing Responsible and Secure Innovation: Principles and Guidance for Investors.”
The report, to which S&P Global has contributed, builds upon the recognition that there is a lack of standardized approach for investors to account for and evaluate the cyber preparedness of target or portfolio companies – and proposes a set of principles and a due diligence framework to assess cybersecurity preparedness of an investment target prior to investment, and by growing the cybersecurity capabilities of an organization after the investment.
Martina Cheung, President of S&P Global Market Intelligence, a division of S&P Global, says: “Investors need to be able to confidently assess cyber risk with the same rigor as other risks they analyze and manage – and that ability can be met only with a standard set of principles. The cybersecurity due diligence assessment framework is a great building block for this as it offers an industry standard that investors can use across the investment cycles to help their portfolio of companies improve their cyber exposure practices.”
Cheung adds: “In an interconnected society with ever-advancing technology, we need the whole ecosystem to be more cybersecurity aware and to help improve and secure the next generation of technology.”
S&P Global is a contributor to the Secure Innovation Project and is actively engaging in raising awareness for the need to reframe the conversation around cyber risk.
SOURCE S&P Global