Parsons Highlights Transparency With Environmental, Social, and Governance (ESG) Disclosures
CENTREVILLE, Va., (April 24, 2023) – Parsons Corporation (NYSE: PSN) today published its 2023 Environmental, Social, and Governance (ESG) disclosures, detailing how the company is accelerating its climate objectives while creating the future of global infrastructure and national security. The report highlights the company’s transparency and key milestones, defining how ESG underpins the company’s values and drives future growth.
“Parsons is connected to the health of our people, our communities, and our planet,” said Carey Smith, Parsons’ chair, president, and chief executive officer. “Last year we expanded our ESG focus by setting more stringent climate goals to support our long-term mission leveraging innovative capabilities from every aspect of our business. I’m excited about this year’s ESG report and the story it tells about our efforts to deliver a better world.”
In May 2022, Parsons became a signatory of the United Nations Global Compact (UNGC), as part of the company’s corporate stewardship and overall sustainability initiative. Raising awareness of The Ten Principles and the Sustainable Development Goals across projects, initiatives, and employee engagement, upholds Parsons’ core values and enables the workforce to identify targeted, interconnected ways to mitigate climate change, reduce the carbon footprint, and advance the human condition through shared societal commitments.
In 2021, the company set a goal to reduce absolute Scope 1 and Scope 2 emissions by 20% from 2019 to 2025. As of December 2022, Parsons has exceeded that goal with a 25% reduction. Parsons recently announced its Net-Zero emissions strategy and committed to near and long-term company-wide emissions reductions in line with science-based net-zero from the Science Based Targets initiative (SBTi). The company also took steps to prioritize transparency, including publishing a climate risk and opportunity assessment in line with the guidelines issued by the Taskforce on Climate-Related Financial Disclosures (TCFD), which engaged a cross-section of Parsons’ global footprint and markets.
“The ground work we laid has been fundamental in developing the transparent, proactive ESG reporting necessary to hold ourselves accountable and prepare for forthcoming regulatory reporting requirements,” said Mark Van Andel, Vice President, Environmental, Social & Governance (ESG) at Parsons. “Updating our GHG targets is just one tenet of our overall ESG strategy, which reduces Parsons’ global footprint while maximizing the effect that our work has on communities and people’s lives. We pay attention to every aspect of ESG and the ways we can weave its value into the fabric of our company.”
Key 2022 milestones include year over year decreases in Scope 1, 2 & 3 emissions, decreases in energy usage, and the establishment of an internal carbon price to further climate goals and drive employee best practices. Parsons updated commitments to enhancing gender and racial/ethnic diversity, continuing to imbed Diversity, Equity, and Inclusion into every aspect of the business. The company also completed 2022 with the lowest global total recordable incident rate (TRIR) in the company’s recorded history, at 0.12 (recordable work-related injuries per 200,000 hours). Parsons continues to garner industry-wide, national and regional recognition, including being named one of the World’s Most Ethical Companies by Ethisphere for the 14th consecutive year in March 2023.
By continuing to raise the level of ESG impact across all levels of the company, Parsons is bringing about change one possibility, one challenge, and one solution at a time. To read the company’s 2023 ESG report and learn more about how Parsons is creating a better world through ESG, please visit https://www.parsons.com/CARE.
Parsons (NYSE: PSN) is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. Please visit Parsons.com and follow us on LinkedIn and Facebook to learn how we’re making an impact.