Carbon reporting solutions to support climate initiatives
Stakeholder demands for companies to take science-based climate action to deliver a low carbon economy are on the rise. For a company to remain relevant and resilient, measuring, managing and reporting carbon emissions across the value chain is a must. But finding a carbon reporting solution that can track full value chain carbon emissions to provide trusted data across Scope 1, 2 and 3 carbon emissions can be challenging.
Examples of rising stakeholder demand for carbon emissions data include:
- Countries are extending mandatory carbon reporting regulations to new industries and smaller businesses within them
- Global brands now requiring suppliers to report and share their carbon emissions data and demonstrate reductions
- Investors demanding that assets they hold disclose the potential risk and opportunities climate change may impose upon business
This increased demand for high quality data on carbon emissions across the value chain is particularly difficult to satisfy in the upstream “supply chain” where many smaller companies simply don’t know what carbon data is, how to collect it and how to share it. This points to an urgent need for a turnkey solution to help suppliers understand the importance of carbon data disclosure in a way that aligns with and then grows their current capabilities.
Greenhouse gas (GHG) protocol
UL 360 Sustainability software solutions enable carbon reporting to Scope 1, 2 and all categories of scope 3 emissions in accordance with the global Greenhouse Gas Protocol, and UL Turbo Carbon software enable smaller companies to report scope 1 and 2 emissions and selected categories of scope 3 emissions in a simple, fast and affordable way.
Scopes for reporting GHG emissions are broken down into three categories in order to better organize emissions sources related both directly and indirectly to your business. Approaching emissions data in this way contributes to a clearer method of tracking and addressing GHG:
- 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.
We know that data quality is critical, and therefore we also offer Greenhouse Gas Verification to ISO 14064-3 for GHG statements.
Carbon reporting solutions that suppliers trust
At UL Solutions, we help suppliers understand and satisfy the demand for carbon data by deploying solutions that activate, educate and enable them to report on their carbon emissions in a globally consistent fashion.
Our software tools enable you to:
- Consolidate carbon emissions data for ongoing performance management, external disclosure and strategic decision making
- Report to frameworks such as CDP, GRI, Dow Jones Sustainability Index (DJSI), Sustainability Accounting Standards Board (SASB) and UN Global Compact
- Simplify data collection with an intuitive, user-friendly system
- In addition, our separate verification service enables you to trust that your reported carbon emissions are free from material errors and thereby usable for external disclosure of confirming progress against targets.
UL Solutions experts have developed a deep understanding of carbon and greenhouse gas emissions measurement and reporting over many years while pioneering and perfecting our next-generation carbon reporting solutions.
We offer companies multiple ways to track, report and verify carbon emissions, which can improve efficiency (versus tracking by spreadsheet). Our trusted tools offer an overall view of emissions across supply chains and enable you to track, measure, manage and report results for meeting stakeholder demands.
UL Solutions' carbon emissions data reports accepted by a gold standard
UL Solutions utilizes our expertise in sustainability software to deliver carbon measurement, management and reporting solutions for every need, from single locations to global enterprises with complex supply chains. When using UL’s carbon management solutions, you can feel confident you have selected a best-in-class solution. In fact, independent environmental research analyst Verdantix ranked UL 360 Sustainability software for enterprises as the highest performing provider of reporting tools for Greenhouse gas emissions management among the 23 software firms evaluated in its Green Quadrant report.
Our 360 Sustainability software was selected by CDP, the nonprofit that runs the global emissions disclosure system for investors, companies, governments and NGOs, to power its environmental emissions reporting. The world’s economic leaders look to CDP as the gold standard of environmental reporting, with the richest and most comprehensive dataset on corporate and city action to curb climate change.