The World Economic Forum (WEF) has identified cybersecurity as one of the most critical emerging issues facing governments and businesses worldwide. As cyber threats become more sophisticated and widespread, the WEF is taking a leading role in driving public-private collaboration and developing strategies to enhance cyber resilience.
Why is cybersecurity a priority for the WEF?
The WEF views cybersecurity as central to its mission of improving the state of the world. Some key reasons why it is prioritizing cybersecurity include:
- Economic impact – Cybercrimes are estimated to cost the global economy over $1 trillion per year. Cyber attacks can lead to major disruptions and financial losses for businesses.
- National security – Cyber attacks targeting critical infrastructure and government systems undermine national security. State-sponsored attacks are becoming more common.
- Technological change – New technologies like cloud computing, AI and IoT are creating more potential cyber vulnerabilities that must be managed.
- Public distrust – High-profile data breaches and cyber attacks are eroding public trust and confidence in digital services.
- Global risks – The WEF’s Global Risks Report ranks cyber attacks and data fraud/theft among the top 5 global risks by likelihood and impact.
Safeguarding the digital economy is therefore a key priority for the WEF as it looks to promote prosperity, growth and stability worldwide.
What initiatives and projects is the WEF pursuing in cybersecurity?
The WEF is actively engaged in many initiatives and projects to strengthen cyber resilience and promote collaboration. Some major programs include:
1. Global Centre for Cybersecurity
The WEF established this centre in 2018 to function as an independent, impartial platform for governments, businesses, academia and other key stakeholders to collaborate on cybersecurity challenges. It aims to improve global cyber resilience through analysis, public-private partnerships, and driving adoption of best practices.
2. Partnership against Cybercrime
This initiative launched in 2017 works to enhance collaboration between law enforcement agencies, governments and the private sector. It focuses on combating high-tech cybercrime through improving data sharing and investigations.
3. Global Commission on the Stability of Cyberspace
This commission was launched in 2017 by the WEF and other partners. It brings together international experts to develop proposals for norms and policies that enhance cyber stability and security.
4. BASIC Initiative on Cybersecurity Norms
This initiative is a collaboration between the WEF and the governments of Brazil, Australia, Singapore, India and Canada. Its goal is to explore how states can implement norms of responsible behavior in cyberspace.
5. Global Cybersecurity Alliance
This alliance was formed in 2021 by over 60 companies from across sectors to improve cyber resilience. Members pledge to implement policies and share best practices in areas like software security and supply chain risk management.
| Initiative | Focus |
|---|---|
| Global Centre for Cybersecurity | Platform for public-private collaboration |
| Partnership against Cybercrime | Combating high-tech cybercrime |
| Global Commission on the Stability of Cyberspace | Developing cyber norms and policies |
| BASIC Initiative on Cybersecurity Norms | Implementing responsible state behavior |
| Global Cybersecurity Alliance | Improving cyber resilience |
These major programs exemplify the WEF’s emphasis on facilitating cooperation between diverse stakeholders in order to make progress on cybersecurity challenges.
What role does the WEF play in global cyber governance?
Through its initiatives and platforms, the WEF has become a driving force in cyber governance worldwide. Some of its key contributions include:
- Bringing together leaders and experts from the public and private sectors to identify cyber priorities and develop solutions.
- Raising awareness at the head-of-state level and among business executives about critical cyber risks and policy issues.
- Providing recommendations and guidance to governments on national cybersecurity strategies.
- Facilitating tracker frameworks like the Global Cybersecurity Index to benchmark countries’ cyber capacity and measure progress.
- Driving public-private partnerships and initiatives for tackling challenging issues like cybercrime and critical infrastructure resilience.
- Calling for international norms and principles for responsible state behavior in cyberspace.
Through a combination of public profile, access to decision-makers and substantive expertise, the WEF has become an agenda-setter in the global dialogue on cybersecurity.
What are some of the WEF’s policy recommendations on cybersecurity?
The WEF has published extensive research and made many policy recommendations focused on strengthening cyber resilience. Some notable recommendations include:
National Strategies
- Adopt national cybersecurity strategies with clearly defined roles for government agencies.
- Designate national cybersecurity leadership through centers, councils or coordinators.
- Develop incident response plans and enhance collaboration with public and private sectors.
- Invest in IT infrastructure, human capital and R&D around cybersecurity.
International Cooperation
- Harmonize cyber standards, risk management approaches and incident reporting across borders.
- Expand sharing of cyber intelligence and warnings between governments.
- Improve law enforcement collaboration to combat global cybercrime.
- Agree on norms for responsible state behavior in cyberspace.
Public-Private Partnerships
- Create mechanisms and platforms for public and private sectors to pool knowledge and capabilities.
- Incentivize cyber risk management and resilience in companies and across supply chains.
- Develop cybersecurity training, workforce development and educational initiatives.
- Drive adoption of standards, certification schemes, risk frameworks and best practices.
By providing evidence-based recommendations, the WEF aims to guide leaders towards making progress on cyber priorities at the national and international levels.
How does the WEF collaborate with partners on cybersecurity?
Collaboration is at the heart of the WEF’s approach to addressing cybersecurity challenges. It brings together a wide range of partners from across sectors and geographies:
- Governments – The WEF provides recommendations and capacity building support to help governments enhance cyber resilience.
- Businesses – Leading companies share experiences and coordinate to improve cyber risk management practices.
- International organizations – Partners like the UN, INTERPOL and ASEAN collaborate on WEF cyber initiatives.
- Academia – Researchers and technical experts provide analysis and insight to inform WEF cyber projects.
- Civil society – NGOs and advocacy groups contribute perspectives on issues like privacy and digital rights.
By convening this diverse range of stakeholders, the WEF can facilitate public-private and cross-border collaboration essential for tackling the complex global challenges related to cybersecurity.
Davos Annual Meeting
The WEF’s flagship Davos Annual Meeting provides high-level opportunities for advancing its cybersecurity agenda. Typically, there are dedicated sessions focused on the latest cyber threats and policy responses. The informal interactions between public officials, corporate executives and experts during the week can also catalyze new initiatives.
Centre for Cybersecurity
The WEF Centre for Cybersecurity serves as an interactive hub for cooperation between partners year-round. Located in Geneva, it hosts workshops, simulation exercises, working groups and task forces focused on topics like cyber resilience in global supply chains.
Global Shapers Community
This WEF community of young leaders around the world organizes grassroots projects on cyber awareness, skills and entrepreneurship. Connecting youth perspectives is vital for tackling future cyber challenges.
Through venues like Davos and the Centre for Cybersecurity, combined with engagement initiatives globally, the WEF systematically brings together stakeholders from across borders and industries to shape collective solutions on cybersecurity.
Conclusion
The World Economic Forum is playing a pivotal role in confronting cybersecurity challenges that are critical to the future of the digital economy. Its emphasis on public-private collaboration has made it an agenda-setter in global cyber governance. Looking ahead, the WEF will continue serving as a platform for cooperation between governments, companies, experts and other stakeholders committed to enhancing cyber resilience worldwide.