IQ-EQ and Novata Form Strategic ESG Partnership
IQ-EQ has announced a strategic alliance with Novata, a prominent technology platform and public benefit corporation specialising in comprehensive environmental, social, and governance (ESG) data solutions for the private markets.
This collaboration aims to empower portfolio companies to deliver top-notch data to investors, fostering a meaningful and sustainable impact on our world.
Novata's cutting-edge platform will revolutionise the collection of ESG data and serve as the core of IQ-EQ's comprehensive ESG offering. Comprising four essential pillars - ESG Set Up, ESG Data Strategy, ESG Data Collection & Management, and ESG Reporting & Compliance - IQ-EQ's alliance with Novata aims to facilitate streamlined and efficient ESG processes for asset managers, investors, and portfolio companies.
With Novata's platform, stakeholders in the private markets can identify the most suitable ESG framework and metrics that align with their sustainability strategies. The platform offers a wide array of options, including over 650 metrics derived from widely accepted standards, empowering firms to collect and consolidate ESG data tailored to their specific business and investment priorities. Moreover, Novata's analytical tools incorporate an extensive range of private markets' ESG benchmarks, enabling actionable insights to enhance ESG performance.
Renowned industry leaders such as the Ford Foundation, Hamilton Lane, Microsoft, Omidyar Network, and S&P Global endorse the Novata platform. Its tailored approach and powerful features cater specifically to the needs of the private markets, providing a robust foundation for effective ESG data management and reporting.
Emma Crabtree, Group Chief Commercial Officer at IQ-EQ, emphasised the increasing stringency of ESG reporting requirements and highlighted the alliance's significance in addressing these challenges. By leveraging innovative technology and offering an evolved ESG solution, IQ-EQ aims to equip clients with superior data quality and strategic clarity. This, in turn, will enhance reporting capabilities for investors and regulators, improve risk management practices, unlock access to deeper capital pools, and contribute to a more sustainable future.
Scott Kennedy, Co-Founder and President at Novata, emphasised the pivotal role of technology and innovation in addressing the evolving demands of ESG transparency within private markets. The alliance between IQ-EQ and Novata is exceptional as it integrates Novata's platform with IQ-EQ's renowned expertise in the ESG space. Kennedy expressed enthusiasm for collaborating with IQ-EQ to continuously innovate and meet the complex regulatory and investor demands faced by their clients in the private markets.
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