Private markets ESG-focused data solutions provider Novata announced today the launch of “Novata for Companies,” a new offering targeted at private companies with solutions for ESG data management and reporting, carbon accounting, and sustainability-related regulatory compliance.

Novata is a public benefit corporation founded in 2021 by a consortium including S&P Global, the Ford Foundation, asset management firm Hamilton Lane, and social change-focused investment firm Omidyar Network, and supported and advised by several leading private equity firms and pension funds, to provide private markets investors with a solution for ESG measurement, data collection and benchmarking, and enable reporting on ESG data.

According to Novata, the new solution is being launched in “direct response to the growing demand for robust and reliable sustainability solutions among private companies.”

Mark Fischel, Head of Product for Companies at Novata, said:

“Whether it’s providing data to investors or customers, or responding to the increasingly onerous regulatory landscape, sustainability teams have never been busier! We are confident that by integrating our advanced technology and expert advisory services, companies will save time, enhance collaboration, and drive sustainability up their business agenda.”

Key features of the new offering include Novata’s Sustainability Management Solution, helping businesses to collect, securely store, and collaborate on sustainability data; Novata Carbon Navigator, enabling companies to measure Scopes 1, 2 and 3 carbon emissions with Novata’s digitized carbon calculator, and; Novata’s CSRD Solution, including European Sustainability Reporting Standards (ESRS) data management tools, a double materiality solution and expert advisory practice.

Alex Friedman, CEO & Co-Founder of Novata, said:

“We’ve spent the last three years building a best-in-class data management platform that investors trust, and now we’re excited to bring that same level of innovation and reliability to private companies. Our goal is to help these companies tackle the hardest challenges in sustainability with confidence.”