Novata Launches Unique Benchmarking Capabilities to Help Companies Contextualize ESG Data

Novata-Launches-Unique-Benchmarking-Capabilities-to-Help-Companies-Contextualize-ESG-Data

Novata, a public benefit corporation and technology platform that provides private markets stakeholders with intuitive and effective Environmental, Social and Governance (ESG) data management solutions, announced the launch of wide-ranging benchmarking capabilities in-platform to enable Novata clients to contextualize their ESG data and see how they compare relative to industry peers. Novata clients will have access to anonymized industry data that will offer an unprecedented level of detail of ESG performance in private markets.

“Novata firmly believes that benchmarking is a powerful indicator of ESG progress – it enables reporting firms to drill down into performance gaps and to identify areas for improvement. Benchmarking also provides important contextualization to what the data means across a range of dimensions.”

Backed by a consortium that includes the Ford Foundation, S&P Global (NYSE: SPGI), Hamilton Lane (NASDAQ: HLNE) and Omidyar Network, and with the support of more than a dozen private equity firms and pension funds, Novata is the leading ESG data management platform built specifically for the private markets. The Novata platform provides customers with a clear on-ramp for selecting ESG metrics, painless data collection and data insights and analytics tools to inform investment decisions.

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Benchmarking ESG metrics helps Novata clients track progress and set well-informed goals. Novata’s in-platform benchmarks are created by aggregating data tracked by relevant peers. Novata’s benchmarking capabilities are powered by thousands of data points drawn from private and public companies; however, all data remains strictly anonymized to ensure data points cannot be associated with specific companies.

“The Novata platform seeks to meet the needs of companies across the ESG reporting spectrum. The first step along the journey is collecting your firm’s ESG data. After companies finish reporting, we have seen that interest quickly shifts towards understanding how the company compares to a relevant peer set,” said Lorraine Spradley Wilson, Chief Impact Officer and Head of ESG at Novata. “Novata firmly believes that benchmarking is a powerful indicator of ESG progress – it enables reporting firms to drill down into performance gaps and to identify areas for improvement. Benchmarking also provides important contextualization to what the data means across a range of dimensions.”

Since Novata’s successful platform launch in April, Novata has welcomed a range of private equity and credit firms to the General Partner Advisory Committee (GPAC) and has experienced significant global demand for its ESG data management platform.