Climate, Cyber Risk, and the Promise of the Internet of Things (IoT)

Abstract

The continued cost decline of computer processing capacity along with rapid growth in microprocessor speed, results in today’s increasing rate of technological change and is of historical import. The daily life of billions of individuals worldwide has been forever changed by technological productivity in just the last few years. However, costly and extinction threatening climate change and disruptive data breaches continue at an alarming rate. The challenge and promise facing humans attempting to govern the process of artificial intelligence, machine learning, and the impact of billions of sensory devices connected to the Internet is the subject of this Article.

We proceed in nine sections. First, we focus on humanity in crisis. Second, we define the Internet of Things (IoT), comment on the explosive growth in sensory devices connected to the Internet, provide examples of IoT devices, and speak to the promise of the IoT. Third, we discuss legal requirements for corporate governance as a foundation for considering the challenge of governing the IoT. Fourth, we look at potential IoT threats. Fifth, we discuss the Mirai botnet. Sixth, is a look at IoT threat vector vulnerabilities during times of crisis. Seventh, we discuss the Manufactured Usage Description (MUD) methodology. Eighth, we look at climate and the IoT. And finally, we conclude. We believe this Article contributes to our understanding of: the widespread exposure to malware associated with IoT; adds to the nascent but emerging literature on governance of enterprise and climate risk; all subjects of vital global societal importance.

Keywords: blockchain; climate change; corporate governance and risk; crisis management; cross-device Tracking; cybersecurity standard of care; data breach; FTC; industrial control systems (ICS); Internet of Things (IoT); manufactured usage description (MUD); Mirai; ransomware; sensors