Northern Trust Partners with Novata

Northern Trust 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. According to a story in Traders Magazine, 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. 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.