According to a press release, the new ESG management offerings comprise a combination of established advisory practice, software, and verification services aligned to serve all levels of ESG reporting maturity.
This service portfolio enables sustainability and ESG professionals to accelerate their programs and address regulatory and voluntary reporting requirements in an ever-evolving landscape, according to UL Solutions. Per the release, the new portfolio supports the five use cases listed below.
- Mobilize: Establish and optimize ESG programs.
- Measure: Implement robust systems for measuring ESG performance.
- Manage: Drive continuous improvement of ESG key performance indicators (KPI) and goals.
- Report: Streamline and enhance ESG disclosure and reporting.
- Assurance: Demonstrate independent verification of key ESG KPIs.
In addition to ESG advisory practice services, UL Solutions notes it also offers ESG software with a powerful in-built calculation engine and global emission factor database. To wit, the company's UL360 software, established over 20 years ago, features eight modules that can be added to a software subscription to streamline data transfer and collection. These modules include ESG Disclosures, Scope 3, Initiatives, and Properties.
UL Solutions notes its UL360 software was designed to streamline data management and has been tested by the Greenhouse Gas (GHG) Management Institute to confirm a high level of data quality. The software's scope 3 data collection and reporting capability offers carbon management software solutions available with proven system performance, supported by advisory and informed by carbon verification.
UL Solutions has also been recognized as a leader in the Verdantix Green Quadrant: Enterprise Carbon Management Software 2022 and featured in the Gartner 2022 Chief Financial Officer (CFO) Market Guide for Financial ESG Disclosure Reporting Software.
To complement its ESG reporting software, UL Solutions also recently announced its expanded ESG advisory and assurance services. From the initial mobilization of ESG initiatives through environmental data and content verification, UL Solutions says its expanded services are intended to help guide companies throughout their ESG management and reporting journeys.
John Genovesi, executive vice president at UL Solutions and president of the company’s Enterprise and Advisory group, commented:
“With our ESG management portfolio, UL Solutions has a breadth of resources, subject matter expertise and tools available to help companies enhance their ESG data management and reporting. Collaborating with our customers and listening to their challenges has led us to combine our established ESG capabilities and offer holistic solutions.”
The following recent video from the company describes UL Solutions' ESG advisory and assurance services.