Novata Introduces SFDR Reporting for Private Markets and Grows European Sales Team
Novata, a public benefit corporation and technology platform that provides private market stakeholders with ESG data management solutions, launched SFDR metrics in-platform to enable financial market participants to collect sustainability-related information. Novata also added experienced sales individuals in London to support this product offering.
Novata is the leading ESG data management platform designed exclusively for the private markets, backed by a consortium that includes the Ford Foundation, S&P Global, Hamilton Lane, and Omidyar Network, as well as more than a dozen private equity companies and pension funds.
The Sustainable Finance Disclosure Regulation (SFDR) is a European initiative that aims to prevent greenwashing by enhancing disclosure of the ESG characteristics of investment products and developing consistent reporting criteria for financial institutions.
The newly launched SFDR module in Novata's framework builder enables investors to obtain the ESG data required to complete their reporting obligations. Novata's framework builder is a proprietary in-platform tool that allows users to obtain ESG reports from portfolio businesses that are suited to each firm's specific needs.
Owen Riddall, Chief Product Officer at Novata, said:
"We have heard strong feedback from clients that they need help reporting against SFDR, and our in-platform building block is the key first step in their SFDR reporting journey. Increasing regulatory requirements means that ESG data disclosure will soon be required for millions of private companies, and Novata is simplifying the process by providing a holistic and effective ESG data collection platform to collect and manage data.”
Novata has welcomed several private equity and credit companies to its General Partner Advisory Committee (GPAC) and experienced significant global demand for its ESG data management platform since its April platform launch.
Lauren Peat, Chief Revenue Officer at Novata, said:
"We are committed to delivering best-in-class service to our clients at a time when ESG is top of mind for companies, regulators, and investors across the globe. Novata is pleased to welcome our new additions to our rapidly growing sales team, who will help European firms access our innovative platform to simplify the ESG data collection process.”