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In the aftermath of cybersecurity incidents hitting multiple industries over the past few years, six global organizations joined to launch The Coalition to Reduce Cyber Risk (CR²).

CR² members — AT&T, Cisco, HSBC, JPMorgan Chase, Mastercard and Microsoft — will partner to advance cyber risk management to strengthen the resilience of economies and infrastructure around the world.

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“In today’s global, interdependent economy, improving cybersecurity requires organizations to work not only within their enterprise but also with partners, customers, and governments,” said Tom Burt, corporate vice president, Customer Security and Trust, Microsoft. “CR² will bring these stakeholders together to advance security while also enabling the tremendous economic and societal benefits of digital transformation.”

Based on the collective expertise and experience of its cross-sector members, the coalition will seek to foster collaboration and align global cybersecurity policies based on industry best practices and globally recognized frameworks and standards.

Cyber Security

Click here to download CR²’s white paper: “Cybersecurity Policy for Resilient Economies: A Global, Cross-Sector Approach.”

“HSBC is pleased to join with prominent institutions across industry to support the global economy in being resilient against cyber threats,” said Philip Eagle, global head, Information Security Risk, HSBC. “It is important for industry to work closely with regulators to strengthen and harmonize our regulations to better protect our customers in the United States and abroad.”

Eric Wenger, director, cybersecurity & privacy policy at Cisco said, “Cisco is proud to help found CR² — a multisector, multinational industry-led effort to improve cybersecurity. We look forward to working with our private-sector partners and governments to advance standards-based, compatible frameworks for more effective cyber risk management.”

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