NEW YORK--(BUSINESS WIRE)--Novata and the Global Impact Investing Network (GIIN) announced today that the GIIN’s IRIS+ standard impact metrics are now integrated in Novata’s leading data management platform, tailored specifically for investing in private markets. This move enables fund managers to collect, manage and analyze standardized impact data from companies to inform their investment practices and report relevant information to their stakeholders.
Demand is on the rise for investments that generate positive, measurable social and environmental impact alongside financial return, otherwise known as impact investing, which has now grown to a USD 1.164 trillion industry. However, until now, a lack of impact data and platform interoperability has posed challenges for investors to integrate impact measurement and management tools into their day-to-day operations.
To that end, Novata’s technology platform supports impact investors with a clear starting point for selecting the metrics that matter, streamlining data collection, and contextualizing data to drive reporting and action.
"Our collaboration with Novata signifies a pivotal moment in the impact investing industry,” said Sapna Shah, Chief Program and Operating Officer of the GIIN. “This partnership provides fund managers with the metrics they need to understand their impact and communicate it back to investors. This is an important step towards empowering investors to make more informed decisions and direct capital to solving major global challenges such as climate change and financial inclusion. We are excited about the transformation this partnership promises for the industry, and we look forward to seeing the positive changes it fosters."
“This partnership represents the first commercially available offering of the IRIS+ metrics. In building this solution, we stayed true to the spirit of the content from the GIIN, working closely with their team on the structure of this offering,” said Lorraine Spradley Wilson, Chief Sustainability Officer at Novata. “Novata clients will now be able to access IRIS+ metrics and other GIIN content on the Novata platform, enabling them to include these performance metrics into their reporting data collection frameworks. This integration will not only provide investors with valuable insights, but also foster a more robust impact investing ecosystem.”
The GIIN and Novata’s commitment to driving positive change through investment underscores this landmark milestone for the industry. The partnership will pave the way for additional impact performance analytics, meeting the increasing demand for impactful investment opportunities and integrating essential impact tools throughout the financial sector.
Notes for the Editor
Since its commercial launch in April 2022, Novata has experienced significant global demand, with more than 4,500 private companies contracted to use the platform. Novata’s secure data collection, ESG benchmarks, and cutting-edge analytics platform offer critical market infrastructure for the private markets. To learn more about Novata’s platform offerings and to schedule a demo, visit the website and follow Novata on LinkedIn to keep up with the company’s latest news and insights.
The GIIN’s IRIS+ is a set of tools and guidance, including metrics, for impact investors to translate their intentions for positive impact into measurable results. The GIIN offers IRIS+ to serve the practice of impact measurement & management, a Core Characteristic of Impact Investing, and promotes the use of standardized IRIS+ impact metrics to increase transparency, credibility, and accountability in impact investing. To learn more about integrating the GIIN’s IRIS+ metrics into data platforms, visit the website here and follow the GIIN on LinkedIn.
Novata is a certified B Corporation that enables the private markets to achieve a more sustainable and inclusive form of capitalism. Novata’s technology platform makes navigating the ESG landscape simple for private markets by identifying a clear starting point for selecting the metrics that matter, streamlining data collection, and contextualizing data to drive reporting and action. Novata is backed by the Ford Foundation, Hamilton Lane, Microsoft Omidyar Network, and S&P Global. For more information, please visit https://www.novata.com/.
About the Global Impact Investing Network (GIIN):
The Global Impact Investing Network (GIIN) is the global champion of impact investing, dedicated to increasing the scale and effectiveness of impact investing around the world. Impact investments are investments made into companies, organizations, and funds with the intention to generate positive, measurable, social and environmental impact alongside a financial return. Impact investments can be made in both emerging and developed markets and target a range of returns from below market to market rate, depending upon investors’ objectives. The GIIN builds critical infrastructure and supports activities, education, and research that help accelerate the development of a coherent impact investing industry. For more information, please visit www.thegiin.org.