UL Solutions' ESG Management for Sustainability
UL Solutions, a worldwide leader in applied safety science, has introduced a portfolio of ESG management services. These services aim to establish enterprise sustainability data management programmes, with an emphasis on scope 3 emissions and carbon reduction initiatives.
UL Solutions' ESG management portfolio consists of an array of services, including advisory practice, software, and verification services. These offerings cater to various levels of ESG reporting maturity, helping sustainability and ESG professionals meet both regulatory and voluntary reporting requirements.
The portfolio includes five primary use cases: Mobilise, Measure, Manage, Report, and Assurance. These use cases aim to establish and optimise ESG programmes, implement systems for measuring ESG performance, drive continuous improvement of ESG key performance indicators (KPIs) and goals, streamline ESG disclosure and reporting, and demonstrate independent verification of key ESG KPIs.
John Genovesi, President of UL Solutions' Enterprise and Advisory group, has stated that UL Solutions' ESG management portfolio offers subject matter expertise, tools, and resources to help businesses improve their ESG data management and reporting. He further added that the company has combined its existing ESG capabilities to provide holistic solutions to its customers.
Apart from its ESG advisory practice services, UL Solutions provides ESG software with a robust inbuilt calculation engine and a global emission factor database. The UL360 software, which has been operational for over 20 years, includes dedicated modules like ESG disclosures, scope 3, initiatives, and properties, which aid in the efficient transfer and collection of data.
The UL360 software was developed to simplify data management and has been evaluated by the Greenhouse Gas (GHG) Management Institute to ensure the data's high quality. The software's scope 3 data collection and reporting capability provides carbon management software solutions that have demonstrated system performance and are supported by advisory services, which are informed by carbon verification.
UL Solutions has received recognition for its excellence in enterprise carbon management software, as it has been acknowledged as a leader in the Verdantix Green Quadrant for this field in 2022. Additionally, the company has been featured in the Gartner 2022 Chief Financial Officer (CFO) Market Guide for Financial ESG Disclosure Reporting Software.
Furthermore, UL Solutions has announced an expansion of its ESG advisory and assurance services, which complements its existing ESG reporting software. The company's expanded services assist companies in navigating their ESG management and reporting journey, starting from the initial mobilisation of ESG initiatives to environmental data and content verification.
For further information regarding UL Solutions' ESG management portfolio, please visit their website.
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Source: UL Solutions