The importance of space weather to society is in a continuous increase since we are more and more dependent on reliable spaceborne and ground-based technological systems. Physical processes involved in space weather constitute a complicated chain from the Sun to the Earth's surface, so the management of space weather risks requires expertise in many disciplines of science and technology. In this paper, geomagnetically induced currents in electric power networks are considered in detail, referring particularly to research carried out in Finland. Today's monitoring systems of natural risks, such as floods and forest fires, are based on satellite observations. Spacecraft and communication between satellites and the ground are vulnerable to space weather. Thus, besides being a direct risk to technology, space weather may also indirectly have adverse effects on risk management. European efforts, which take into account both aspects, are also discussed in this paper.