In case you missed it earlier this week, there is a new set of ESG benchmarks on the market courtesy of the data platform Novata. “The release increases the scope of available benchmarks on the Novata platform to include 50 universal benchmarks and more than 200 sector specific benchmarks for the 2022 reporting period,” the company said in a press release.
This matters because, if private markets is on an ESG data “journey”, then benchmarking is definitely the next major milestone. Sustainability data is now being gathered in a systematic way (although far from universally); now investors are eager to find out how funds and portfolio companies compare to peers.
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, it said.