UL Solutions, a product safety and certification organisation, has announced a partnership with Fujitsu, the Japanese multinational technology company, in a bid to provide Japanese businesses with ways to navigating Japan’s new climate reporting standards.
The new collaboration will rely on UL Solution’s ULTRUS software portfolio, a digital platform built to simplify how enterprises manage supply chains, regulations, and sustainability practices, and Fujitsu’s established network of clients. Together, they hope to offer more localised, effective solutions for Japanese businesses managing a range of operational and compliance needs.
Fujitsu will also use UL Solutions’ UL 360 software, part of the broader ULTRUS platform, to help customers track and report on environmental, social and governance (ESG) data. The goal is to help customers remain compliant with changing sustainability reporting rules and standards, particularly the new standards set by the Sustainability Standards Board of Japan (SSBJ). These are aligned with the International Sustainability Standards Board (ISSB), set up by the International Financial Reporting Standards Foundation.
The SSBJ’s new standards encourage companies to report on their sustainability and climate-related metrics, reflecting a trend where a growing number of countries are requiring businesses to be completely accountable and transparent about their ESG practices. Currently, companies in Japan can choose to apply these standards voluntarily and strictures and requirements are not expected to become mandatory until 2027.
The new standards are built on earlier efforts already in place in the country, specifically the rules set by the Tokyo Stock Exchange and Japan’s Financial Services Agency (FSA). The SSBJ’s standards reinforce the growing expectation for publicly-listed Japanese companies to disclose sustainability-related information.
Hidehiko Yamajo, Regional Vice President of UL Solutions in Japan, spoke about the importance of ESG reporting, saying, “For long-term business success for companies in Japan, strong ESG reporting is no longer a side issue but a core need for companies.”
He said the latest partnership will “help companies navigate these complex ESG reporting demands,” and let businesses “manage their data easily, meet new reporting requirements, and ultimately create real business value.”
Hidenori Ito, Senior Vice President and Head of the Cross-Industry Solutions Business Unit of Fujitsu, says Fujitsu has been using technology and data to drive ESG management. “Fujitsu is consolidating all internal and external data, strengthening disclosure and regulatory compliance, and promoting rapid management decision-making through financial and non-financial analysis to realize ESG management.”
Ito highlighted how Fujitsu Uvance, Fujitsu’s business model focuses specifically on addressing social and sustainable issues, and the partnership will be used to “integrate Fujitsu’s technologies, like AI and blockchain technology, […] cultivated through collaboration with UL Solutions and our own practices.”
UL Solutions and Fujitsu’s collaboration represents the latest strategic effort to combine regulatory expertise with technology to advance ESG and sustainability practices in Japanese industry, with an end goal of helping establishments meet evolving disclosure standards worldwide.
(Image source: “WWJD #35 2007 outlet pipe in use” by Division of Water Resources is licensed under CC BY 2.0.)
Want to learn more about blockchain from industry leaders? Check out Blockchain Expo taking place in Amsterdam, California and London.
Explore other upcoming enterprise technology events and webinars powered by TechForge here.
