Parsons Announces Net-Zero Emissions Strategy

CENTREVILLE, Va., April 17, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) today announced a commitment to set updated near and long-term targets for Greenhouse Gas (GHG) emissions aligned with 1.5°C and net-zero through the Business Ambition for 1.5°C campaign; a leading global coalition committed to taking urgent climate action.

Parsons committed to near and long-term company-wide emission reductions in line with science-based net-zero from the Science Based Targets initiative (SBTi), which leads the Business Ambition for 1.5°C. SBTi is a collaboration between CDP, the United Nations Global Compact (UNGC), World Resources Institute (WRI), World Wide Fund for Nature, and the We Mean Business Coalition Commitments. Additionally, Parsons is a member of the UNGC.

“We recognize the importance of rapid and deep emission cuts towards the goal of halving global emissions before 2030 and achieving net-zero before 2050,” said Mark Van Andel, Vice President, Environmental, Social & Governance (ESG) at Parsons. “Updating our GHG targets and making a net-zero commitment aligns with our core value of sustainability and represents the company’s dedication to serving as a responsible, engaged, and proactive global partner.”

Parsons will submit targets to SBTi for validation including a 45% reduction for both Scope 1 (Direct Emissions) and Scope 2 (Indirect Emissions From Purchased Energy), our fist target for Scope 3 (Corporate Value Chain Emissions), and net-zero GHG Emissions no later than 2045. These targets are absolute reductions from a 2021 baseline to 2031. In January 2023, the company’s Board of Directors approved the commitment to set validated near and long-term targets and agreed to the proposed targets.

The company’s plan to achieve climate goals includes continued reduction of its real estate footprint, low carbon energy procurement, ongoing flexible work options for employees, and proactive management of both business travel and the emissions associated with our supply. The plan also includes continued efficiency improvements of Parsons’ fleet vehicles across the company and on projects, including the introduction of the first electric trucks in 2023.

To learn more about Parsons’ ESG vision, please visit: parsons.com/care/

About Parsons
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.

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