Novata and the Global Impact Investing Network (GIIN) have reached an agreement that sees GIIN’s IRIS+ standard impact metrics incorporated into Novata’s data platform, according to a statement.
This is significant because the impact investing industry is yet to settle on a common set of metrics that would allow stakeholders to compare the performance of different funds from an impact perspective. By integrating one of the most commonly used impact measurement metrics into the data management platform, it is easier for managers to collect and report on standardised impact data.
GIIN created IRIS+, a publicly available, free-to-use framework providing sets of impact key performance indicators for sectors such as healthcare, financial inclusion, agriculture and real estate. It is used by GPs such as BlackRock, Blackstone, KKR, Nuveen, Apollo and Vista.
Novata was established in 2021 backed by a group of industry, data and non-profit organisations; it now has more than 4,000 private companies contracted to use the platform.