Sustainability at MasParc

MasParc’s focus on sustainability is embedded in everyday decision-making and operational processes, as well as long-term corporate plans and strategies. We understand the necessary balance between business performance and minimizing our impact on the environment while ensuring the well-being of our people and the community in which we operate.

We know the decisions we make today need to ensure the delivery of our services to our customers for the longer term. We cannot do this alone. We rely on delivering better outcomes in partnership with customers, stakeholders, vendors, suppliers, and our strategic partners. We will do this through the sustainability principles listed below.

  1. Ensuring responsible operations that respect our neighbors, the local community, and the environment.
  2. Delivering efficient operations that reduce the use of natural resources, minimize waste, and ensure effective operations.
  3. Developing a diverse workforce of people with different skills and backgrounds, and providing a safe work environment for all employees.
  4. Mitigating climate change by working to reduce our carbon footprint with respect to energy and fuel use. This includes a commitment to achieve 50% Net Zero Emissions (NZE) by 2030 and 100% NZE by 2040.
  5. Understanding the potential impacts of climate change on our business and our services, and developing effective and flexible solutions to minimize associated risks.
  6. Ensuring strong corporate governance that is committed to upholding appropriate principles and practices to provide accountable and effective leadership.

Recent Sustainability Efforts

Over the past few years, MasParc has implemented and/or maintained a number of efforts focused on environmental sustainability, social issues, and governance including (but not limited to):

  • Environmental Concerns:
    • When possible, recycling parking lot asphalt when lots are reconstructed.
    • Upgrading lighting systems to incorporate more efficient lamps and reduce power consumption. Approximately 77% of the parking supply has LED lights.
    • Installing new electric vehicle charging stations.
    • Providing parking spaces for carsharing services, such as Zipcar and Good2Go.
    • Upgrading HVAC systems to more efficient heat pumps.
    • Using VOC-compliant and low odor coatings, sealers, and paints.
    • Maintaining oil-water separators to remove contaminates from water runoff in parking structures.
    • Monitoring fuel and power consumption on a monthly basis.
    • Developing and enforcing policies focused on sustainability and the environment.
    • Recycling old electronics and lighting equipment.
  • Social Issues:
    • Actively sponsoring community charities and organizations, including the Huntington YMCA and Northeastern University Athletics’ annual Skating Strides Breast Cancer Awareness games.
    • Focusing recruitment efforts in the local area and hiring Northeastern University students.
    • Conducting regular meetings with stakeholders and monitoring customer service response rates and complaints on a monthly basis.
    • Tracking various employee issues, such as diversity, turnover, pay gaps, training hours, etc.
    • Developing and enforcing policies focused on employee health and safety, conduct, and customer service.
  • Governance:
    • Conducting quarterly board meetings and monthly updates to keep board members informed.
    • Holding annual strategic planning sessions with board members and updating our business plan every year.
    • Providing regular performance updates to our noteholders.
    • Developing a detailed risk register covering key areas, such as conduct, operations, customer service, workplace health and safety, and environmental concerns.
    • Developing a business continuity plan to ensure continuous operations during various emergency situations.

2020-2023 Performance

The following table outlines our sustainability performance over the past three years. Scope 1 greenhouse gas (GHG) emissions refers to emissions produced onsite or as a direct result of our activities (e.g., vehicle or equipment fuels used). Scope 2 GHG emissions refer to power used by MasParc (e.g., electricity consumed for power).

Scope 1 GHG emissions (tCO2e)
Scope 2 GHG emissions (tCO2e)
Electricity consumption (kWh)
Water consumption (gallons)
Number of reportable injuries