Novata expands sustainability solutions platform that supports private companies

Novata, a leading sustainability management company, on Tuesday introduced its “Novata for Companies” platform designed to support private companies in managing the most challenging aspects of sustainability.

Novata said the  new offering is a direct response to the growing demand for robust and reliable sustainability solutions among private companies. Companies are increasingly seeking a partner to help them manage and report on ESG data to meet demands from their investors, supply chain partners and regulators, Novata said in a press release announcing the expanded management platform.

“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,’” said Alex Friedman, CEO and co-founder of Novata.  “Our goal is to help these companies tackle the hardest challenges in sustainability with confidence.”

Novata said its new offering for companies includes:

• Novata’s Sustainability Management Solution. A flexible workspace for businesses to collect, securely store, and collaborate on sustainability data.
• Novata Carbon Navigator. Measure Scopes 1, 2 and 3 carbon emissions with Novata’s digitized carbon calculator.
• Novata’s CSRD Solution. Remove the operational burden and uncertainties associated with the CSRD with our combination of ESRS data management tools, digitized double materiality solution, and expert advisory practice.

Since its commercial launch in 2022, Novata said it has experienced significant global demand by investors for its all-in-one solution for data management, carbon accounting, regulatory reporting and comprehensive set of private markets’ ESG benchmarks.

Novata’s platform is used by hundreds of private equity, growth equity, private credit and venture capital firms and more than 8,000 companies across the globe. Novata’s clients manage over $10 trillion in assets.

“At Novata, we understand the increased challenges companies are facing when it comes to sustainability, whether it’s providing data to investors or customers, or responding to the increasingly onerous regulatory landscape,” said Mark Fischel, Novata’s head of product for companies.

In addition to sustainability technology, Novata’s clients can also leverage its advisory capabilities. Novata Advisory provides a range of customizable services and guidance to support businesses at every stage of the sustainability journey.

Read more: Helping companies refine ESG data strategies