The implementation of Novata’s ESG platform is designed to be streamlined and user-friendly, especially for private market participants. While the exact timeline can vary depending on the size and complexity of the organization, most users can expect to be up and running within a few weeks. Here's a step-by-step breakdown of the typical implementation process:
Initial Consultation & Demo Organizations begin by requesting a demo or consultation with Novata’s team to understand the platform’s capabilities and align them with their ESG goals.
Framework Selection Using Novata’s Framework Builder, users select ESG metrics relevant to their business. The platform provides access to global standards like SASB, GRI, and CSRD, along with difficulty ratings and guidance for each metric.
Custom Metric Setup Companies can add custom metrics tailored to their specific business needs or portfolio characteristics.
Platform Configuration Novata’s team assists in configuring the platform, including user roles, data access permissions, and integration with existing systems (e.g., ERPs or financial platforms like iLEVEL).
Data Collection & Upload ESG data is collected through Novata’s secure, multi-user interface. The platform offers calculators, guidance, and guardrails to ensure high-quality data entry.
Training & Support Novata provides onboarding support, live chat, and documentation to help users navigate the platform. Advisory services are available for deeper ESG strategy alignment.
Benchmarking & Reporting Once data is collected, users can benchmark performance against anonymized industry data, visualize ESG trends, and generate downloadable reports for stakeholders.
Ongoing Monitoring & Action Planning The platform supports continuous ESG monitoring, action planning, and regulatory compliance workflows (e.g., CSRD, SFDR).
Depending on the organization’s readiness and data availability, full implementation can take 2 to 6 weeks, with faster onboarding possible for smaller teams or those using Novata’s advisory services.
Customisation
Novata is highly customizable and purpose-built to adapt to the unique ESG needs of private market participants. Here are several data points that highlight its flexibility:
Custom Metrics: Users can create and track ESG metrics that are specific to their business model, investment strategy, or portfolio companies. This allows firms to go beyond standard frameworks and focus on what matters most to their stakeholders.
Modular Tools: Novata offers specialized modules like the Carbon Navigator, CSRD Solution, and Due Diligence Platform, which can be activated based on business needs. These tools support carbon accounting, regulatory compliance, and pre-investment ESG assessments.
Integration Capabilities: The platform supports open architecture, allowing integration with ERPs, financial systems (e.g., S&P Global’s iLEVEL), and other data platforms. This ensures ESG data can be centralized and analyzed alongside financial metrics.
Workflow Automation: Novata replaces manual spreadsheets with task management, deadline tracking, and collaborative documentation tools. These features can be tailored to fit internal ESG workflows and reporting cycles.
Scoring & Benchmarking Customization: Users can define their own scoring rubrics, send questionnaires, and receive auto-calculated scores based on their ESG priorities. Benchmarking can be customized to compare performance against relevant industry or portfolio standards.
Advisory Services: Novata’s expert team offers tailored ESG strategy support, helping organizations align the platform with their sustainability goals, regulatory obligations, and investor expectations.
User Roles & Access Control: The platform allows granular control over who can view, edit, and report data, making it suitable for complex organizational structures and multi-stakeholder environments.
Additional Costs
Novata’s pricing is customized and available on request, meaning there are no publicly listed fixed rates. The total cost typically depends on factors such as:
While Novata does not charge for a free trial, it also does not offer a free version of the platform. Setup fees, onboarding support, and maintenance costs are likely bundled into the subscription or licensing agreement, but specifics are provided during the sales consultation.
Support services—including live chat, email, and phone—are part of the platform’s offering, and Novata provides access to its Customer Success Team without mention of additional charges. However, expert advisory services (e.g., ESG strategy, carbon accounting, CSRD compliance) may incur additional fees depending on scope and engagement level.
Training
Novata offers a comprehensive onboarding experience for new users, designed to make ESG data collection and reporting intuitive and efficient. Key training and support features include:
Customer Success Team Access: New users are supported by Novata’s dedicated team, which provides onboarding sessions, metric guidance, and platform walkthroughs.
Live Chat, Email, and Phone Support: Users can reach out for real-time help during onboarding and ongoing use.
Knowledge Base & Documentation: Novata provides detailed guides, FAQs, and best practices to help users navigate ESG metrics, reporting workflows, and platform features.
Webinars and Online Training: Periodic webinars and training sessions are available to educate users on sustainability trends, regulatory updates, and platform enhancements.
Metric Guidance Library: Each ESG metric comes with definitions, difficulty ratings, and calculation instructions to help users collect accurate data confidently.
Team Spaces & Role Management: Users can create collaborative workspaces, assign roles, and manage permissions to streamline ESG data collection across departments.
On average, companies complete their first ESG data request within seven days, with over 80% of requested data typically submitted during onboarding.
Security Measures
Novata takes data security seriously and has implemented robust measures to ensure the protection of user information. Key security features include:
Secure-by-Design Architecture: The platform is built with security principles embedded throughout its infrastructure, ensuring safe data handling and delivery.
Encryption & Data Segregation: Novata uses encryption to protect data in transit and at rest, and segregates data to maintain privacy across clients.
DevSecOps Practices: Security is integrated into the development lifecycle, with continuous testing and validation of platform features.
ISO 27001 Certification: Novata is certified under the ISO 27001 standard, which ensures rigorous information security management.
SOC 2 Type II Compliance: The platform meets SOC 2 standards for Security, Confidentiality, and Availability, assuring its operational integrity.
Role-Based Access Control: Users are assigned specific roles and permissions to ensure that only authorized individuals can access sensitive data.
Audit Trails & Source Referencing: All data entries and changes are tracked, ensuring transparency and accountability in ESG reporting.
These measures position Novata as a trusted ESG platform for private markets, capable of handling sensitive sustainability and regulatory data with confidence.
Updates
Novata follows a continuous improvement model, regularly releasing updates to enhance platform functionality, regulatory compliance tools, and user experience. While the company does not publicly specify a fixed release schedule (e.g., monthly or quarterly), updates are typically aligned with:
New feature rollouts (e.g., Carbon Navigator enhancements, AI-powered reporting tools)
User feedback and platform optimization
Updates are managed through cloud-based deployment, ensuring that users automatically receive the latest features without manual installation. Novata also communicates major updates via its newsletter, webinars, and customer success team, helping users stay informed and trained on new capabilities.
Data Ownership and Portability
Novata’s Data Processing Agreement (DPA) clearly outlines its stance on data ownership and portability. According to the DPA:
Data Ownership: Customers retain full ownership of their data. Novata acts as a Data Processor, while the customer is the Data Controller, in compliance with GDPR and other global data protection laws.
Portability: Customers can export their ESG data from the platform, ensuring data portability for reporting, auditing, or migration purposes. This includes structured ESG metrics, carbon accounting data, and regulatory disclosures.
Transparency & Control: Novata provides audit trails, source referencing, and secure access controls to ensure that customers can manage, retrieve, and validate their data at any time.
This policy ensures that organizations using Novata maintain control over their ESG information and can move or replicate it as needed for compliance or strategic purposes.
Scaling Up / Down
Novata is designed to be scalable and flexible, allowing organizations to adjust usage based on evolving ESG needs. Key terms and capabilities include:
Modular Platform Access: Organizations can activate or deactivate modules such as Carbon Navigator, CSRD tools, or Due Diligence features depending on their current priorities.
User & Portfolio Expansion: Companies can add more users or portfolio companies as they grow. Novata’s pricing and licensing are typically adjusted based on the number of entities and data volume.
Advisory Services Flexibility: Clients can scale advisory support up or down, choosing between light-touch guidance or full ESG strategy consulting depending on budget and internal capacity.
Cloud-Based Architecture: Novata’s infrastructure supports horizontal scaling, meaning performance remains stable even as data volume or user count increases.
Contract Adjustments: Organizations can renegotiate terms or expand their service scope through Novata’s customer success and sales teams, ensuring alignment with business growth or contraction.
This scalability ensures that Novata remains a viable solution for both small firms starting their ESG journey and large enterprises managing complex sustainability portfolios.
The terms & conditions for contract renewal and cancellation
Novata’s contract terms are governed by its Terms and Conditions, which outline the legal framework for using its ESG platform and services. While specific renewal and cancellation clauses may vary depending on the signed agreement or order form, here are the general data points:
Contract Agreement: Users enter into a binding agreement either through a signed order form, a click-through acceptance on the website, or another mutually agreed format.
Renewal Terms: Contracts may include automatic renewal clauses, unless terminated by either party within a specified notice period. Renewal terms are typically defined in the original order form or subscription agreement.
Cancellation Policy: Users can cancel their subscription or services by providing written notice, subject to the terms outlined in their agreement. Cancellation may not result in refunds for unused portions unless explicitly stated.
Termination for Breach: Novata reserves the right to terminate access if users violate the terms of service, misuse the platform, or fail to meet payment obligations.
Data Retention Post-Cancellation: Upon termination, users may retain access to their data for a limited time to export or migrate it, depending on the agreement.
Compliance
Novata’s ESG platform is built to support and align with a wide range of global compliance standards, frameworks, and regulations, particularly for private markets. These include:
ESG Frameworks
TCFD (Task Force on Climate-Related Financial Disclosures) – Supports climate-related financial risk reporting.
SDGs (UN Sustainable Development Goals) – Provides a broad framework for social and environmental impact reporting.
CDP (Carbon Disclosure Project) – Enables standardized environmental data collection and scoring.
Invest Europe – Aligns with ESG principles for European private equity and venture capital firms.
ESG Standards
SASB (Sustainability Accounting Standards Board)
GRI (Global Reporting Initiative)
PRI (Principles for Responsible Investment)
ESRS (European Sustainability Reporting Standards) – Required under the CSRD for EU-based companies.
Regulatory Compliance
CSRD (Corporate Sustainability Reporting Directive) – Novata offers purpose-built tools for double materiality assessments, ESRS data management, and digitized reporting workflows.
SFDR (Sustainable Finance Disclosure Regulation) – Includes in-platform tools for Principal Adverse Impact (PAI) reporting.
SEC Climate Disclosure (USA) – Supports emerging climate-related reporting requirements from the U.S. Securities and Exchange Commission.
California SB 253 & SB 261 – Helps companies comply with new climate disclosure laws in California.
Security & Data Standards
ISO 27001 Certification – Ensures rigorous information security management.
SOC 2 Type II Compliance – Covers Security, Confidentiality, and Availability of data.
Novata’s platform is continuously updated to reflect changes in global ESG regulations, making it a reliable solution for organizations navigating complex compliance landscapes.
