April 13, 2021
CDP, a leading global environmental, social, and governance (ESG) disclosure system, has released its updates to the 2021 questionnaire and its annual reporting window opens soon. Reporting to CDP for emissions, deforestation or water security can help your organization mitigate risks and support the well-being of the planet. As a leader in software and sustainability solutions, UL can walk you through the process and keep you on track to meet your deadlines.
CDP was founded in 2000 as a nonprofit. It holds companies, cities and regions accountable for their contribution to global climate change and motivates them to work toward improvement. Companies say they benefit in multiple ways from tracking their ESG metrics, according to CDP’s internal research. The CDP 2020 brochure on business benefits lists gains from reporting, among others:
- Seventy-five percent of companies report improvements to their corporate reputation.
- Fifty-five percent of reporting companies say they gain a competitive advantage over those who don’t.
- One-third of companies say they save money from reporting.
Environmental Leader also recently reported that investors have urged large corporations to begin sustainability reporting. This reporting system also encourages organizations to promote their environmental leadership to investors. Companies can opt to be published on the CDP “A List”, demonstrating dedication. In 2020, CDP announced that the “A List” represented $15 trillion dollars worth of market capital.
Regardless of whether you already report to CDP or are a novice, UL’s 360 Sustainability Essentials software can help simplify your reporting process.
Seamless CDP integration
Each year, CDP updates its questionnaire. While navigating these annual changes can require close attention from reporting organizations, UL simplifies the process. As a CDP Gold Accredited software platform, 360 Sustainability Essentials integrates CDP questions into the platform and updates it annually based on these changes when you select the frameworks module. Worrying about annual questionnaire changes becomes a thing of the past when you migrate to our digital software management system, which saves your report from the previous year. This allows you to use your metrics as a guide to prepare you for the current year’s report.
UL has a robust approach to data that will take your reporting to the next level. Our platform supports you on the path to thorough and accurate data collection and management. We help your data thrive by providing:
- Data collection templates and questionnaires
- A standard library of environmental, social and governance (ESG) metrics and automated calculations
- Format merging with Microsoft Excel to easily upload data from spreadsheets
- Automated checks to flag missing or inconsistent data
- Comprehensive audit trails
- Intuitive dashboards to review data
Data can be collected directly from energy suppliers or meters, imported from other digital sources, or inserted manually. Keeping data centralized on our platform can help you manage the workflow and delegate tasks for data collection and management.
Get the scope on your emissions
The complexities of tracking emissions fade away with a comprehensive software solution. Our robust tracking platform can help you gather data on Scope 1, 2 and 3 greenhouse gas (GHG) emissions.
- Scope 1: These emissions come directly from activities or substances that are owned or controlled by your organization.
- Scope 2: These types of emissions come from purchased sources of energy, such as electricity or heating.
- Scope 3: These emissions come from indirect sources of production or operations in your supply chain.
While Scopes 1 and 2 are typically easy to track, Scope 3 proves more difficult because it requires a clear understanding of a multi-step process involving external suppliers. With an intuitive user interface, 360 Sustainability Essentials can help you categorize data at each origin to track Scope 3 emissions. Although this requires working closely with your suppliers to learn more about their emissions, a centralized platform helps collect and monitor data for effective change management.
Top-notch reporting support
Rather than getting bogged down by manual data checks, our platform checks your data as you work. Email notifications can enhance your workflow and keep you up to date on the progress of your report.
With 17 years of data management systemization experience, our experts are ready to assist with specific topics. We also have an Advisory service to support your team. After your report has been completed, we can provide advice on how to establish and manage benchmarks for the future.
With templated reports, we simplify communicating your CDP disclosure to stakeholders. Reports can be effortlessly exported to different formats, such as Microsoft PowerPoint. You can easily share dashboards with your users, exhibiting how your organization performs against its targets. You can also view your ESG information spatially on an interactive map. Our chart builder will even choose your custom colors and fonts by default to match your organization’s visual identity.
Matching your organization’s needs
UL’s 360 Sustainability Essentials can support the ESG needs of a variety of organizations. From small to large companies, the software can be adjusted to fit your reporting needs. If you have various locations, each can be inserted into the platform. Each location will have its own metrics, so you can easily track which location performs the best or worst.
In addition, you can calculate return on investment for initiatives you are considering implementing. Once an initiative is launched, you can track its progress.
Providing for the future
By reporting to CDP, your organization can grow while emerging as a leader in the movement toward a sustainable global future. Reporting to CDP can help organizations ensure that they can sustain growth in the long term, mitigating risks along the way. This allows companies to gain investor interest, consumer buy-in, and competitive advantage. Tracking impacts on the environment through CDP reporting can propel an organization to become adaptable and manage change effectively.
Rated No. 1 by Verdantix for advanced sustainability data management, UL’s software solutions will get your reporting process off the ground quickly and efficiently. Request a demo to learn more about how UL 360 Sustainability Essentials can help your organization report to CDP.
360 Sustainability Essentials software
Read more about 360 Sustainability Essentials packaged software and how it can help you get up and running in as little as six weeks reporting to all the major frameworks such as CDP, GRI, SASB, DJSI e.g.