Novata, a leader in sustainability technology for private markets, has unveiled Novata for Companies, a new service tailored to support private companies in effectively managing their sustainability challenges.
This initiative follows Novata’s three-year tenure as the go-to platform for investors in sustainability data management, now catering to a growing demand from private companies for sophisticated environmental, social, and governance (ESG) solutions.
The expanded offering from Novata features several innovative tools:
- Novata’s Sustainability Management Solution: A versatile workspace that allows businesses to gather, securely store, and collaborate on sustainability data.
- Novata Carbon Navigator: A tool to calculate Scope 1, 2, and 3 carbon emissions digitally, aiding companies in their efforts to reduce their environmental footprint.
- Novata’s CSRD Solution: Designed to ease the operational challenges of complying with the Corporate Sustainability Reporting Directive (CSRD), this solution integrates ESRS data management tools, a digitized double materiality framework, and expert advisory services.
Alex Friedman, CEO and Co-Founder of Novata, expressed enthusiasm about the new venture: “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.”
Novata also offers advisory services through Novata Advisory, which provides customisable guidance to support businesses at every stage of their sustainability journey. Whether companies are initiating sustainability practices or enhancing existing measures, Novata’s experts are poised to assist in achieving their sustainability goals. This integration of technology and advisory expertise is set to revolutionize how companies approach sustainability, making it a core element of their business strategy.
Mark Fischel, Head of Product for Companies at Novata, highlighted the pressures that sustainability teams face today: “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.”
Since its launch in April 2022, Novata has seen substantial global demand from investors for its comprehensive ESG solutions. The platform is now trusted by over 8,000 companies worldwide and is utilized by investors managing more than $10tn in assets.
Keep up with all the latest FinTech news here.
Copyright © 2024 FinTech Global
