UL Solutions announced a relationship with OpenEngagement, an independent stakeholder engagement and corporate governance advisory firm, to help Australian companies comply with the country's new mandatory climate reporting requirements. This collaboration leverages UL Solutions' expertise in environmental, social and governance (ESG) advisory services and software solutions.
The partnership will utilize UL Solutions' ULTRUS software portfolio, including the UL 360 ESG data management software, to help customers manage regulatory, supply chain, and sustainability challenges. OpenEngagement will provide strategic guidance throughout the reporting process, addressing climate-related risks and opportunities.
Australia's recent passage of the Treasury Laws Amendment bill introduces mandatory climate-related reporting for large and medium-sized companies, requiring disclosures on climate-related risks, opportunities, and greenhouse gas emissions across the supply chain. This alliance positions UL Solutions to serve a critical and evolving market need for climate transparency and accountability.
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