In Short:
– Cyber security incidents in Asia Pacific redefine critical infrastructure, expanding its scope beyond just industrial machinery.
– New strategies emphasise visibility to protect crucial sectors like banking, finance, and telecommunications from cyber threats.

The rise in cyber security incidents in Asia Pacific is reshaping the definition and protection of critical infrastructure. New digital and operational technology risks are prompting stakeholders to reconsider conventional beliefs that critical infrastructure is primarily industrial machinery behind high fences.

Michael Fisher from Garland Technology discusses this evolving landscape. Critical infrastructure now encompasses essential services such as banking, finance, and telecommunications, expanding beyond traditional definitions.

The convergence of IT and operational technology (OT) networks increases cyber security risks. Many OT services were not designed with cyber security in mind, leaving them vulnerable to cyber attacks. Industries most at risk include telecommunications, banking, finance, and utilities, where any disruption can significantly impact society.

Increased Visibility

Fisher highlights that traditional cyber security alone is insufficient to secure these infrastructures. Effective protection requires a new approach focused on visibility. Garland Technology’s mission is to provide visibility to upstream cyber security platforms, eliminating blind spots.

Governments and businesses must recognise their roles in combatting cyber threats. Australia’s Security of Critical Infrastructure Act is a step towards increasing corporate responsibility in recognising critical infrastructure and ensuring compliance with security measures.

In Short:
– The shift to electric vehicles for last mile delivery is increasing, especially in Australia, driven by government initiatives.
– Challenges like costs and charging infrastructure hinder EV adoption, but advancements improve efficiency and sustainability perceptions.

The shift towards electric vehicles (EVs) for last mile delivery is accelerating globally, with Australia expected to see significant growth. Companies and retailers are increasingly adopting greener solutions, driven by supporting government initiatives.

Joe Sofra from ANC discussed the current state of the last mile EV market. He noted the global market is valued at around $30 billion and could grow three to four times over the next eight years.

Challenges such as cost and charging infrastructure remain significant. Currently, over 100 EVs are on the road, but sufficient charging stations need to be developed, including home and public options. The unique requirements of commercial vehicles further complicate access to these facilities.

In Short:
– Businesses must disclose climate risks and strategies, improving credibility and compliance.
– Companies face challenges in data management and scope three emissions, impacting strategic planning and engagement.

Businesses globally are increasingly required to disclose climate risks and transition strategies, impacting their credibility and compliance efforts. The Australian Sustainability Reporting Standards (ASRS) in particular represent a significant shift for local companies, urging them to comprehend climate change’s effect on financial performance. Lisa Zembrodt, Principal and Senior Director, Sustainability Business across the Pacific Zone for Schneider Electric, joined to share her insights on the impact of ASRS on Australian businesses.

Organisations must now align their climate disclosures with financial statements, necessitating audits and increasing scrutiny on directors. This shift compels companies to prioritise credibility in their disclosures rather than mere compliance, presenting a comprehensive understanding of climate risks to foster stakeholder trust.

Key Challenges

A major challenge for companies remains the accurate collection and management of data, often still done via spreadsheets. Many companies struggle with “scope three” emissions, which often lie outside direct control.

Successful adaptation will require enhanced engagement throughout the value chain to achieve emissions reductions.