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Novata and the Global Impact Investing Network (GIIN) announced today that the GIIN’s IRIS+ standard impact metrics are now integrated in Novata’s leading data management platform, tailored specifically for investing in private markets. This move enables fund managers to collect, manage and analyze standardized impact data from companies to inform their investment practices and report relevant information to their stakeholders.

Demand is on the rise for investments that generate positive, measurable social and environmental impact alongside financial return, otherwise known as impact investing, which has now grown to a USD 1.164 trillion industry. However, until now, a lack of impact data and platform interoperability has posed challenges for investors to integrate impact measurement and management tools into their day-to-day operations.

To that end, Novata’s technology platform supports impact investors with a clear starting point for selecting the metrics that matter, streamlining data collection, and contextualizing data to drive reporting and action.

“Our collaboration with Novata signifies a pivotal moment in the impact investing industry,” said Sapna Shah, Chief Program and Operating Officer of the GIIN. “This partnership provides fund managers with the metrics they need to understand their impact and communicate it back to investors. This is an important step towards empowering investors to make more informed decisions and direct capital to solving major global challenges such as climate change and financial inclusion. We are excited about the transformation this partnership promises for the industry, and we look forward to seeing the positive changes it fosters.”

“This partnership represents the first commercially available offering of the IRIS+ metrics. In building this solution, we stayed true to the spirit of the content from the GIIN, working closely with their team on the structure of this offering,” said Lorraine Spradley Wilson, Chief Sustainability Officer at Novata. “Novata clients will now be able to access IRIS+ metrics and other GIIN content on the Novata platform, enabling them to include these performance metrics into their reporting data collection frameworks. This integration will not only provide investors with valuable insights, but also foster a more robust impact investing ecosystem.”

The GIIN and Novata’s commitment to driving positive change through investment underscores this landmark milestone for the industry. The partnership will pave the way for additional impact performance analytics, meeting the increasing demand for impactful investment opportunities and integrating essential impact tools throughout the financial sector.

Photo courtesy of Pete Linforth.