In this episode of All Things Sustainable, we're exploring the role that private markets play in global supply chains. We speak to Alex Friedman, Co-Founder and CEO of Novata, a sustainability data management platform for the private markets that partners with S&P Global. In the interview, Alex explains the significance of small and medium-sized private companies in global supply chains — and why high-quality private markets data is important for understanding supply chain risks. "Big public companies have been the ones that have been in the focus when it comes to sustainability," Alex says. "Yet a big public company can't figure out its overall sustainability footprint and how to improve things if they can't get their arms around their supply chain." We also explore how private markets will evolve in 2026 in the face of advances in AI technology and a fragmented regulatory landscape. "It's a multispeed story at the regulatory level," Alex says. "But big companies... they work in so many jurisdictions that they have to collect information when it comes to sustainability. They have to make sense of it and you have to report on it. So that's not changing." S&P Global is part of the consortium of organizations that supported Novata upon its launch in 2021. Read S&P Global's Top 10 Sustainability Trends to Watch in 2026 Register for an S&P Global webinar about sustainability trends to watch on Jan. 29: Sustainability Nexus: S&P Global's Top 10 Sustainability Trends to Watch in 2026 Copyright ©2026 by S&P Global DISCLAIMER By accessing this Podcast, I acknowledge that S&P GLOBAL makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. Any unauthorized use, facilitation or encouragement of a third party's unauthorized use (including without limitation copy, distribution, transmission or modification, use as part of generative artificial intelligence or for training any artificial intelligence models) of this Podcast or any related information is not permitted without S&P Global's prior consent subject to appropriate licensing and shall be deemed an infringement, violation, breach or contravention of the rights of S&P Global or any applicable third-party (including any copyright, trademark, patent, rights of privacy or publicity or any other proprietary rights). This Podcast should not be considered professional advice. Unless specifically stated otherwise, S&P GLOBAL does not endorse, approve, recommend, or certify any information, product, process, service, or organization presented or mentioned in this Podcast, and information from this Podcast should not be referenced in any way to imply such approval or endorsement. The third party materials or content of any third party site referenced in this Podcast do not necessarily reflect the opinions, standards or policies of S&P GLOBAL. S&P GLOBAL assumes no responsibility or liability for the accuracy or completeness of the content contained in third party materials or on third party sites referenced in this Podcast or the compliance with applicable laws of such materials and/or links referenced herein. Moreover, S&P GLOBAL makes no warranty that this Podcast, or the server that makes it available, is free of viruses, worms, or other elements or codes that manifest contaminating or destructive properties. S&P GLOBAL EXPRESSLY DISCLAIMS ANY AND ALL LIABILITY OR RESPONSIBILITY FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES ARISING OUT OF ANY INDIVIDUAL'S USE OF, REFERENCE TO, RELIANCE ON, OR INABILITY TO USE, THIS PODCAST OR THE INFORMATION PRESENTED IN THIS PODCAST.