Asset manager Northern Trust has partnered with ESG data provider Novata to make the latter’s data management software solution available to its asset servicing clients.
Novata’s data solution comprising technologies to streamline ESG data management for the private market aims to expand the asset manager’s Whole Office strategy offering ESG insights and data collection.
Alex Friedman, CEO & co-founder, Novata, highlighted how their platform addresses ESG challenges for private market investors by equipping users with collection, storage, analysis and reporting on ESG data.
Pete Cherecwich, president of asset servicing, Northern Trust, added: “As the demand for ESG data continues to grow, we believe the platform will be a valuable tool for private market investment firms to evaluate and manage ESG risks and opportunities.”
Key metrics offered and tracked by the Novata platform cover categories such as greenhouse gas emissions, renewable energy use and water/wastewater management; social categories such as employee engagement, diversity and inclusion and data security; and governance factors such as board diversity, business ethics, corruption and bribery and systemic risk management.
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