Northern Trust Announces a Partnership with Novata, Adding Private Markets Data and Benchmarking Capabilities to Whole Office Strategy
02 Novembro 2023 - 11:00AM
Business Wire
ESG Data Management Solution enables
transparency in Private Markets
Northern Trust (Nasdaq: NTRS) has reached an agreement to make
available Novata’s ESG data management software solution to
Northern Trust asset servicing clients, following a strategic
investment in the company.
The addition of Novata’s data management solution is an
extension of Northern Trust’s Whole Office strategy that will
provide asset owners a clearer view of the ESG impact of private
companies on investment portfolios and simplify the ESG data
collection process for investors and portfolio companies. Northern
Trust Whole Office facilitates client access to new technologies,
services and solutions across the investment lifecycle.
“We are committed to a strategy that combines Northern Trust’s
global architecture with innovative partners like Novata to help
clients maximize the value of their data and optimize investment
performance,” said Pete Cherecwich, President of Asset Servicing at
Northern Trust. “As the demand for ESG data continues to grow, we
believe Novata's industry-leading technology platform will be a
valuable tool for private market investment firms to evaluate and
manage their ESG risks and opportunities. Through our Whole Office
partnerships, Northern Trust clients across the globe can access
advanced technology, skills and services designed to help them make
more informed decisions.”
In April 2023, Northern Trust participated in the Series B
funding round for Novata, a certified B Corporation and technology
platform that was founded as a public benefit corporation by a
unique consortium of non-profit and for-profit organizations.
Novata offers the technology and expertise to streamline and
simplify ESG data management for the private markets. The platform
provides clear definitions, guidance for tools for calculating ESG
metrics, hands-on support from ESG experts, and market-leading
benchmarking and analytics to easily review data in context and
compare to industry peers.
Novata’s metric library includes more than 800 metrics that
align to widely accepted standards and frameworks, making it simple
to identify a clear starting point for ESG data collection and
reporting. Key metrics offered and tracked by the Novata platform
cover environmental categories such as greenhouse gas (GHG)
emissions, renewable energy use, and water/wastewater management;
social categories such as employee engagement, diversity &
inclusion, and data security; and governance factors such as board
diversity, business ethics, corruption and bribery, and systemic
risk management. Novata’s flexible platform enables a customized
ESG reporting approach so users can focus on the metrics that
matter most to them and their stakeholders.
“Today, private companies and their investors face increasing
pressures when it comes to issues of ESG and sustainability,” said
Alex Friedman, CEO & Co-Founder of Novata. “The Novata platform
offers an enterprise solution for private market investors to
collect, store, analyze and report on relevant ESG data, equipping
its users to meet their sustainability challenges with ease and
confidence.”
About Novata
Novata is a certified B Corporation that empowers 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 serves more than 5,000 companies in more than 20
countries and 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 Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider
of wealth management, asset servicing, asset management and banking
to corporations, institutions, affluent families and individuals.
Founded in Chicago in 1889, Northern Trust has a global presence
with offices in 25 U.S. states and Washington, D.C., and across 22
locations in Canada, Europe, the Middle East and the Asia-Pacific
region. As of September 30, 2023, Northern Trust had assets under
custody/administration of US$14.2 trillion, and assets under
management of US$1.3 trillion. For more than 130 years, Northern
Trust has earned distinction as an industry leader for exceptional
service, financial expertise, integrity and innovation. Visit us on
northerntrust.com. Follow us on X (formerly Twitter) @NorthernTrust
or Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle
Street, Chicago, Illinois 60603 U.S.A., incorporated with limited
liability in the U.S. Global legal and regulatory information can
be found at https://www.northerntrust.com/terms-and-conditions.
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version on businesswire.com: https://www.businesswire.com/news/home/20231102063452/en/
Europe, Middle East, Africa & Asia-Pacific: Camilla Greene
+44 (0) 20 7982 2176 Camilla_Greene@ntrs.com
Simon Ansell + 44 (0) 20 7982 1016 Simon_Ansell@ntrs.com
US & Canada: John O’Connell +1 312 444 2388
John_O’Connell@ntrs.com
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