Organizations in Europe are currently facing the challenge of reducing energy consumption and improving sustainability in light of the European Green Deal. The EU Green Deal has been approved by the European Commission which focuses on decreasing greenhouse gas emissions by 55% compared to the 1990 levels by 2030. Europe is striving to be the first climate-neutral continent by 2050.
The new law, SB 253, aims to bring more transparency and accountability to the public about how big businesses contribute to climate change. It also hopes to encourage companies to reduce their emissions and align with the state’s ambitious climate goals. By 2030, California plans to lower its greenhouse gas emissions by 40% below what they were in 1990.
In 2022, Ofcom, a UK regulator, began its market study into the cloud industry to investigate the dominance that hyperscalers, especially AWS and Microsoft, hold over the industry and the limits this creates for customers. This investigation follows concerns surrounding customers feeling “locked in” to a single provider, potentially leading to inflated prices in the market¹.
You probably heard about the European Union’s updated Network and Information Security Directive (NIS2). This directive will translate into active law in October 2024. You should be ready for it, as there are high fines and sanctions for non-compliance. But you might be tempted to think that October 2024 is far away, right? Think twice. After all, how can you know if you have plenty of time to prepare if you don’t know how well you currently comply with the projected regulations?
In a previous blog post, I discussed the two main areas to audit before the European Union’s updated Network and Information Security Directive (NIS2) becomes ratified law in October 2024. Specifically, these audits would: Identify your gaps with the NIS2 directive’s requirements now. Review your current supply chain security flaws. Now that we’ve discovered these security flaws, we must fix them — before time runs out in October 2024.
Not to be confused with the popular children’s TV character, DORA is a new EU regulation for the financial sector, which stands for the Digital Operational Resilience Act. DORA became law on 16 January 2023 and will start to apply from 17 January 2025, so it’s crucial that senior executives in the financial sector, such as Chief Risk Officers and Chief Information Security Officers, understand its implications and prepare for compliance from day one.
