S&P Global, the Ford Foundation, asset management firm Hamilton Lane, and socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. change-focused investment firm Omidyar Network announced the launch of Novata, a new technology-based platform aimed at enabling reporting on ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. data for private markets.
According to the partners, Novata was designed in collaboration with general partners and limited partners, and informed by their needs for consistent ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. reporting by providing private companies with a solution for ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. measurement, data collection and benchmarking. Private equity firms advising and supporting the initiative included Bridgepoint, Clearlake Capital Group, Kohlberg & Co., KPS Capital Partners, Lindsay Goldberg, Summa Equity, Thomas H. Lee Partners and The Vistria Group.
Alex Friedman, Chief Executive Officer of Novata, said:
“The majority of the world’s economic activity is driven by private companies. It is their approach to environmentalEnvironmental criteria consider how a company performs as a steward of nature. and socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. impact which will ultimately accelerate the ideals of inclusive capitalism. Our solution is unprecedented because it marks the first time that a group of non-profit and for-profit leaders in socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. justice, financial data and the private markets have joined forces to solve for the ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. fragmentation that has plagued the public markets.”
The new platform’s emphasizes a series of key metrics across environmentalEnvironmental criteria consider how a company performs as a steward of nature. categories – including GHG emissions, renewable energy use, and water/wastewater management, socialSocial criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. issues – including engagement, diversity & inclusion, employee health & safety, and data security – and governanceGovernance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. factors, such as board diversity, business ethics, corruption & bribery, and systemic risk management. Using Novata’s solution, private markets investors can choose which of the ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. metrics matter most (or add their own), gather ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. data from portfolio companies in a standardized format, enabling comparison between companies, identification of areas for improvement, and guiding of engagement efforts.
Lorraine Spradley Wilson, Chief Impact Officer and Head of Methodology at Novata, said:
“With a simple and effective methodology, a secure technology-enabled data repository and unbiased benchmarking tools, private companies will be able to better meet and anticipate evolving investor and societal priorities.”
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