May 26, 2026
Key Points:
- Simin Zhou of UL Solutions shares insights in FinTech Magazine on how financial institutions are managing Scope 3 emissions.
- The interview highlights the challenges of inconsistent, indirect emissions data across portfolios and value chains.
- Zhou explains how software is improving data quality, transparency and decision-making as regulatory expectations grow.
In a recent FinTech Magazine interview, Simin Zhou, vice president and general manager of Risk and Compliance Software at UL Solutions, discusses how financial institutions are managing the complexity of Scope 3 emissions. The article answers these key questions:
Why are Scope 3 emissions especially challenging for financial institutions?
Scope 3 emissions include indirect emissions across portfolios, partners and value chains. This makes them difficult to track consistently, especially when data comes from multiple external sources with varying levels of quality.
What are some of the biggest challenges with Scope 3 data today?
Many organizations rely on client-reported data that could be of poor quality or lack consistency. Uneven information across sectors can hinder strategic decisions.
How is software helping address these challenges?
Purpose-built software helps organizations collect, standardize and analyze emissions data more effectively. This improves visibility into where emissions are generated and supports more consistent reporting.
Why does early investment in Scope 3 capabilities matter?
Organizations that invest early in data and software are better positioned to meet evolving disclosure requirements and move beyond reporting to integrate emissions insights into decision-making.
What is the broader impact for financial institutions?
As Scope 3 reporting becomes more established, emissions data will play a larger role in how capital is allocated. Institutions with more reliable data will be better positioned to influence those decisions.
Where can I learn more?
Read the full article in FinTech magazine: Can FinServ Pass the Scope 3 Test for Climate Goals?
Information about how UL Solutions’ ULTRUS® software can help companies manage regulatory, supply chain and sustainability challenges is available on the ULTRUS Enterprise Sustainability page at UL.com.