S&P Global Sustainable1, a unit of S&P Global focused on sustainability, has announced an expansion of its collaboration with ESG data solutions provider Novata. Novata will serve as the technology partner, enhancing sustainability data management solutions for clients.
S&P Global supported Novata’s inception in 2021, alongside the Ford Foundation, Hamilton Lane, and Omidyar Network. The platform was developed with input from general and limited partners to offer private market investors a tool for ESG measurement, data collection, and benchmarking, facilitating comprehensive ESG data reporting.
The expanded partnership will merge Novata’s sustainability data management and carbon accounting tools with S&P Global Sustainable1’s sustainability intelligence. This integration aims to equip companies with insights to effectively manage climate risks, discover opportunities, and build resilience.
Leanne Todd, Head of Energy Transition, Sustainability & Services at S&P Global Commodity Insights, stated that the collaboration will provide organisations with necessary tools to manage risks and report confidently. The partnership will focus on three key areas: carbon calculations, regulatory compliance, and sustainability performance benchmarking.
Carbon calculations will utilise S&P Global Trucost data and Novata’s emission factors for detailed Scope 1, 2, and 3 emissions assessments. The collaboration will assist companies in navigating regulatory requirements such as the CSRD, ISSB, VSME, and California Climate Law using S&P Global Sustainable1’s reporting services. Additionally, it will enable organisations to measure and compare sustainability performance against S&P Global’s Corporate Sustainability Assessment framework using Novata’s platform.
Alex Friedman, CEO and Co-Founder of Novata, emphasised that the partnership combines S&P Global’s sustainability intelligence with Novata’s platform to empower organisations to leverage sustainability for resilience and value creation.
