Executive summary
In today's interconnected world, we rely heavily on our physical infrastructure systems to sustain our way of life. The intricate networks of energy, transportation, communication, and essential systems ensure the seamless operation of our communities, healthcare systems, economies, and governments.
As our reliance on these systems deepens, so does our vulnerability to the multitude of emerging threats that can compromise their stability, safety, and integrity.
This report focuses on four major threats to our critical infrastructure:
- Geopolitical risk
- Cyber threats
- Natural catastrophes, and
- Aging assets.
It considers the likelihood of increased regulation for owners and operators and looks at how risk managers can proactively respond to disruptions.
Insights
- In times gone by, the primary threat to our critical infrastructure was from accidents and natural disasters. Today, we're facing a range of new threats.
- Among these, cyber risk and acts of political aggression are taking center stage. The deliberate targeting of infrastructure is a key strategy of Russia's war in Ukraine.
- Meanwhile, extreme weather events are becoming more frequent.
- In the West in particular, a lack of investment has led to ageing infrastructure, which is less equipped to cope with additional stresses.
- As the geopolitical environment shifts, governments are becoming more focused on the protection of critical assets.
- Organizations can improve their resilience by considering potential scenarios and ensuring business continuity plans are fit for purpose.
Published September 2023