February 24, 2023
Today, UL Solutions announced a new scope 3 reporting and performance management offering for companies to measure, report and reduce their value chain emissions better. Scope 3 emissions often account for about 80% of an organization’s total greenhouse gas (GHG) emissions. The new offering provides companies with a straightforward process to identify, measure and report their scope 3 emissions.
The new scope 3 reporting solution is designed to go hand in hand with the company’s forefront modular, web-based UL 360 ESG, sustainability and supply chain platform. It automates carbon calculations with over 4,000 prebuilt emission factors, saving time, reducing errors and helping users quickly identify decarbonization pathways.
Together, the tools cover all 15 scope 3 categories with bespoke modules for Goods and Services (capital and purchased), Logistics (upstream and downstream and a Supply Chain Management portal.
“Scope 3 emissions account for the largest share of most companies’ greenhouse gas emissions,” said Clayton Sanderson, senior operations manager, Enterprise and Advisory, UL Solutions. “By providing comprehensive reporting software for measuring scope 3 emissions, companies can improve the consistency and accuracy of their reporting and use the insights to take decarbonization efforts to the next level.”
A leading software for enterprise carbon management
The demand for accurate, complete, reliable, assured and relevant scope 3 data is intensifying, as demonstrated by increased regulatory requirements and calls for a standardized approach.
Recently rated as a leader in the green quadrant for carbon management by Verdantix, leading brands have used our ESG and sustainability software solutions for over 20 years. Designed to simplify data management, the software has been tested by GHG Management Institute to ensure the highest level of data quality.
UL Solutions also offers greenhouse gas verification services and reports to ISO 14064-3 to help companies credibly report their GHG emissions. Reports include an evaluation summary along with a detailed explanation of the findings. Reports may be submitted for regulatory compliance and for meeting stakeholder requests for emissions information.
Get started with scope 3 reporting by learning more about our scope 3 services.