NEW YORK--(BUSINESS WIRE)--Novata, the leading ESG data management platform built for the private markets, and Climate Neutral, a pioneering 501(c)(3) nonprofit organization working with brands and consumers to eliminate greenhouse gas emissions, today announce a strategic partnership to provide the private markets with a holistic ESG solution that simplifies the process of collecting carbon data. Climate Neutral’s Brand Emissions Estimator (BEE) is now seamlessly integrated into Novata’s platform so that customers can simply and efficiently estimate their total carbon inventory.
Novata’s platform provides customers with a clear starting point for selecting ESG metrics, painless data collection into a secure database, and data insights and analytics tools to inform investment decisions. Climate Neutral’s BEE, which is built to make carbon accounting more widely accessible, is now integrated in Novata’s platform to provide GPs, LPs, and private companies with a low-cost, first-step emissions measurement tool. The integration will enable private companies to tackle the complex challenge of understanding their climate impact and climate risks – an essential component of ESG data collection.
“Novata and Climate Neutral are mutually aligned in our goal to help empower companies to move from ESG measurement to action as quickly as possible and getting a handle on the drivers of your carbon footprint is a core step in that process,” said Josh Green, Chief Operating Officer at Novata. “Together, we aim to meet our customers wherever they are on their ESG journey by giving them access to impactful tools, such as Climate Neutral’s BEE, that make carbon measurement more readily accessible and reduce the time and expertise required to track these key metrics.”
With mounting pressure from regulators, investors, customers, and employees to increase data transparency, the integrated tool is the simple first step for PE firms that are unsure where to begin with carbon data collection. It will empower Novata customers with a better understanding of their climate emissions, thus enabling companies and their investors to find ways to reduce these emissions.
“Our goal is for Climate Neutral to bring action-focused tools to consumers and businesses at a large scale, so that all of them can play a role in advancing solutions to climate change,” said Austin Whitman, CEO of Climate Neutral. “This is an exciting partnership for us, since Novata shares our commitment to impact, and is working in a market that many firms overlook. Together we hope to bring carbon awareness to thousands of companies in the near future, setting them on course to manage emissions appropriately and accountably.”
Designed as a self-service tool, the BEE enables companies to develop a first estimate of emissions, including supply chain impacts, and then go on to conduct deeper analysis. The tool, which is used by hundreds of Climate Neutral Certified companies, provides outputs that allow companies to strategize and plan for investments in avoiding, removing, and reducing emissions. Learn more here.
Novata is a public benefit corporation created to enable the private markets to achieve a more sustainable and inclusive form of capitalism. Novata helps private equity firms and private companies to navigate the complex ESG landscape more easily by providing a technology platform that simplifies the process of selecting reporting metrics, provides clear and simple guidance for painless data collection, hosts a cutting-edge secure contributory database to store data, and offers unique tools for analysis and seamless reporting to key stakeholders, including limited partners and regulators. Novata was formed as a partnership of the Ford Foundation, S&P Global, Hamilton Lane and Omidyar Network and is majority-controlled by mission-driven organizations and its employees. For more information, please visit https://www.novata.com/.
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About Climate Neutral
Climate Neutral is a 501(c)(3) nonprofit organization working with brands and consumers to eliminate greenhouse gas emissions. The label, Climate Neutral Certified, is a trusted, independent standard for climate neutrality. It is earned by brands who measure, offset, and reduce the emissions from making and delivering products and services to customers. Through its certification, brand community, consumer awareness campaigns, and suite of accessible tools and resources, Climate Neutral is motivating consumers to get more brands to take immediate and measurable action against the climate crisis. To learn more, visit climateneutral.org.