NEWS
UK firms still failing to budget for cybersecurity despite growing threats
In the face of rising cyberthreats and the recent string of highprofile breaches, research from ESET reveals that 15 % of UK businesses still fail to allocate any budget to cybersecurity. With almost a quarter( 23 %) not planning to increase their investment in the year ahead, the findings raise serious concerns about how well prepared some organisations are to navigate today’ s digital threat landscape.
Businesses are at a crossroads when it comes to cybersecurity. While many are making progress and planning to invest more, a significant number still lack the resources, expertise or strategic focus needed to respond effectively to today’ s threat landscape. Nearly half( 45 %) manage their cybersecurity operations without any third-party expertise, while 42 % take a hybrid approach that blends internal and external capabilities. Meanwhile, nearly a third( 32 %) admit they struggle to maintain adequate resources.
Unsurprisingly, large businesses are more likely to have a dedicated cybersecurity budget( 96 %) compared to small businesses( 58 %) – reinforcing the gap in capability and preparedness between enterprise and SME organisations. It’ s clear that trying to manage cybersecurity alone is no longer enough.
Encouraging signs of progress are emerging, but with fewer than three-quarters of businesses planning to increase their cybersecurity investment, a gap remains between awareness and action.
One-third of projected US $ 1 trillion semiconductor supply could be at risk within a decade
One-third( 32 %) of global semiconductor production will be reliant on copper supply at risk from climate disruption by 2035, rising to 58 % by 2050 if emissions do not decline, according to a new report from PwC. The report finds that climate disruption risk poses a growing threat to the US $ 650 billion semiconductor industry, which is projected to exceed US $ 1 trillion by 2030.
The report, the latest instalment of PwC’ s Protecting People & Prosperity series, shows that copper mines, which require a steady water supply to function, face increasing risk from severe drought due to climate change. The analysis underlines the need for both copper exporters and semiconductor buyers to adapt their supply chains and practices if they are to manage the risks caused by climate disruption.
Glenn Burm, Global Semiconductors Leader, PwC South Korea, said:“ Semiconductors are the hidden lifeblood of modern technology, embedded in everything from computers and phones to cars and washing machines. It’ s hard to think of a company that doesn’ t rely on semiconductors in some way. They underpin economic security, are vital to unlocking the potential of AI and integral to renewable energy.
“ We can act now by understanding and managing risks to supply, including the physical risks of climate change.”
Today, copper from only one country or territory that supplies the semiconductor industry – Chile – faces severe drought risks. However, within a decade, copper mines in the majority of the 17 countries that supply the semiconductor industry face severe drought risks.
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