S&P Global’s sustainability-focused business unit S&P Global Sustainable1 and private markets ESG-focused data solutions provider Novata announced an expansion of their collaboration, with Novata to serve as Sustainable1’s technology partner to power sustainability data management solutions for clients.

S&P Global supported the launch of Novata in 2021, alongside the Ford Foundation, asset management firm Hamilton Lane, and social change-focused investment firm Omidyar Network. Developed in collaboration with general partners (GPs) and limited partners (LPs), the platform was designed to provide private markets investors with a solution for ESG measurement, data collection and benchmarking, and enable reporting on ESG data.

According to the companies, the expanded partnership will bring together Novata’s sustainability data management and carbon accounting tools, and S&P Global Sustainable1’s sustainability intelligence capabilities to provide companies with insights to manage climate risks, uncover opportunities, and build long-term resilience.

Leanne Todd, Head of Energy Transition, Sustainability & Services at S&P Global Commodity Insights, said:

“S&P Global Sustainable1 is committed to providing essential sustainability intelligence that meets clients where they are. The expansion of our collaboration with Novata will allow more organizations to access the tools that they need to manage risk, uncover opportunities and report with confidence.”

The expanded collaboration will target solutions in three key areas, including carbon calculations, combining disclosed S&P Global Trucost data on large suppliers and the Novata activity-based emission factors to perform detailed Scope 1, 2 and 3 emissions calculations; regulatory compliance, helping companies to navigate requirements such as CSRD, ISSB, VSME, and California Climate Law with S&P Global Sustainable1’s sustainability reporting services and data captured on Novata’s platform, and; benchmarking sustainability performance, enabling measurement and comparison of sustainability performance against S&P Global’s Corporate Sustainability Assessment (CSA) framework with collection and reporting on Novata’s platform.

Alex Friedman, CEO & Co-Founder of Novata, said:

“With S&P Global’s unmatched sustainability intelligence and our market-leading platform, we are equipping organizations of every size to act decisively on sustainability as a driver of resilience and value creation.”