Quebec-based institutional investor La Caisse (formerly CDPQ) announced on Wednesday a new investment in Montreal-based sustainability reporting software provider Novisto.

According to La Caisse, the transaction is aimed at accelerating Novisto’s growth and the deployment of its solution, with the firm noting that it comes as companies face increasing pressure to comply with sustainability reporting regulations, such as the European CSRD and climate disclosure laws in California.

Founded in 2019, Novisto provides sustainability data management and reporting software for global enterprises, with solutions aimed at enabling companies to collect quantitative and qualitative ESG data, manage sustainability information while adapting to changes in frameworks and standards, and streamline sustainability reporting. The new investment follows a $27 million financing round last year by Novisto, and its acquisition earlier this year of carbon management software company Minimum.

Charles Assaf, CEO and co-founder of Novisto, said:

“The management and reporting of sustainability data have become a pillar of corporate resilience. La Caisse is a global leader in sustainable investment, and this partnership confirms Novisto’s role in the transition. Together, we provide the world’s largest organizations with the auditable data necessary to move from climate commitments to verifiable climate action.”

The transaction follows the launch by La Caisse last year of its 2025–2030 climate strategy, which included a goal to reach $400 billion in “climate action” investments by 2030, and a focus on backing companies that are integrating climate considerations into their business models and scaling investments in climate solutions contributing to the decarbonization of the real economy. La Caisse noted that several of its portfolio companies—including CAE, Boralex and Couche‑Tard—already utilize the Novisto platform.

Kim Thomassin, Executive Vice-President and Head of Québec at La Caisse, said:

“Our commitment to Novisto, a Québec-based company with a strong presence both locally and abroad, reflects our desire to support companies offering concrete solutions to the major challenges of our time and to turn them into champions of their sector. By helping organizations better structure their sustainability data, Novisto contributes to accelerating the transition to a greener economy.”