DESPITE economic uncertainties, organisations continue to recognise cybersecurity as well as environment, social and governance (ESG) as top business and investment priorities. This is mirrored at the national level, with the government’s recent proposal for a model artificial intelligence (AI) governance framework underscoring the need for a more robust and trusted ecosystem. There have also been concerted moves to offer businesses platforms for more seamless and robust ESG data collection and access.

However, thus far, most businesses have viewed the twin priorities in isolation and have, at times, seen them as competing demands. As business challenges become more complex and interconnected, it may be inevitable for the two worlds to collide, and for cybersecurity to become a key consideration in ESG reporting.

That said, the ESG regulatory environment remains nascent, with stakeholders still finding it difficult to make sense of reported data. In Singapore and across the world, the market has also yet to mature to a point where investors are pricing ESG into business valuations, with ESG externalities properly reflected. However, rather than adopt a wait-and-see approach, businesses should act quickly to integrate their cybersecurity and ESG approaches ahead of their competitors, as this will enable them to leverage the synergies of both areas to build valuable trust.