Novata Launches SFDR Reporting Solution for Private Markets and Expands European Sales Team

Rhea-AI Summary

Novata has launched SFDR metrics within its ESG reporting platform, aiming to assist financial market participants in meeting European sustainability disclosure regulations. The company is expanding its sales team in Europe to enhance its reach and effectiveness. Backed by notable organizations such as S&P Global (NYSE: SPGI) and Hamilton Lane (NASDAQ: HLNE), Novata's platform simplifies ESG data management, providing tools for data collection and reporting. This initiative responds to increasing regulatory demands for ESG disclosures across private markets.

Positive

• Launch of SFDR metrics to support ESG reporting in compliance with European regulations.
• Expansion of the sales team into European markets to boost service delivery.

Negative

• None.

SFDR metrics now available in-platform to enable reporting against European regulatory requirements

Leading ESG data management company expands trans-Atlantic reach as ESG reporting platform gains traction

NEW YORK--(BUSINESS WIRE)-- Novata, a public benefit corporation and technology platform that provides private markets stakeholders with intuitive and effective Environmental, Social and Governance (ESG) data management solutions, today announced the launch of SFDR metrics in-platform to enable financial market participants to collect the sustainability-related information outlined under SFDR. To support this product offering, Novata also announced the expansion of its sales team into European markets with the addition of a group of experienced sales professionals in London.

Backed by a consortium that includes the Ford Foundation, S&P Global (NYSE: SPGI), Hamilton Lane (NASDAQ: HLNE) and Omidyar Network, and with the support of more than a dozen private equity firms and pension funds, Novata is the leading ESG data management platform built specifically for the private markets. The Novata platform provides:

• a clear starting point for selecting ESG metrics
• painless data collection into a secure database
• insights and analytic tools to inform investment decisions.

The Sustainable Finance Disclosure Regulation (SFDR) is a European initiative to combat greenwashing by increasing disclosure of the ESG characteristics of investment products and creating common standards for reporting by financial institutions.

The newly introduced SFDR module housed in Novata’s framework builder allows investors to collect ESG information needed to fulfill their reporting responsibilities. Novata’s framework builder is the proprietary in-platform tool used to create custom reporting frameworks that allow users to easily request ESG reports from portfolio companies tailored to each firm’s individual needs.

“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,” said Owen Riddall, Chief Product Officer at Novata. “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.”

Since Novata’s successful platform launch in April, Novata has welcomed a range of private equity and credit firms to the General Partner Advisory Committee (GPAC) and has experienced significant global demand for its ESG data management platform.

“We are committed to delivering best-in-class service to our clients at a time where ESG is top of mind for companies, regulators and investors across the globe,” said Lauren Peat, Chief Revenue Officer at Novata. “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.”

To learn more about Novata’s platform offerings and to schedule a demo, please see here: https://www.novata.com/

About Novata

Novata is a public benefit corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism. Novata ESG solutions, technology platform and contributory database simplify the processes of selecting reporting metrics; collecting and storing relevant data; conducting analysis; and reporting to key stakeholders, including limited partners and regulators. Novata, a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network, is majority controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220816005380/en/

Katie Stueber

press@novata.com

Source: Novata

FAQ

What is the significance of Novata's SFDR metrics launch for SPGI and HLNE?

The launch of SFDR metrics by Novata is significant for S&P Global (NYSE: SPGI) and Hamilton Lane (NASDAQ: HLNE) as it enhances their commitment to ESG disclosure and compliance with European regulations, potentially improving their market positioning.

How is Novata's expansion in Europe expected to affect S&P Global and Hamilton Lane?

Novata's expansion into European markets may positively impact S&P Global and Hamilton Lane by increasing their ESG service capabilities, attracting more clients and fulfilling growing regulatory demands.

What can investors expect from Novata's new SFDR reporting capabilities?

Investors can expect improved ESG reporting processes and tools that simplify data collection and management, helping them meet compliance requirements under the SFDR.