Interparking’s ESG journey
For over 60 years, Interparking has been designing, developing, building, acquiring and operating high-quality car parks in Europe. We are committed to achieving strategic Environmental, Social and Governance (ESG) objectives as we are convinced these will positively impact people (our internal and external stakeholders), the economy, and the environment. Our strategy supports the United Nations Sustainable Goals, an agenda that sets targets to be met by 2030 through ambitious but realistic goals.
Interparking has a strong governance structure that aligns its operations with sustainability goals and ESG principles, ensuring accountability at all levels.
A dedicated ESG Core Team within top management steers this strategy, integrating sustainability into strategic planning and decision-making, and embedding ESG considerations into key business operations and long-term objectives.
Our ESG journey
We have started our ESG journey in 2012, beginning with the measurement of our carbon footprint in Belgium and were awarded the CO2 neutral label consequently. Over the years, we have expanded the scope of our carbon footprint calculations, incorporating more countries and refining our methodologies.
Certified CO2 neutral in 9 countries in 2015, we took a step further in our commitment the following year by investing in community projects aimed at combatting deforestation in Africa. Two years later, Interparking contracted the first green credit loan in Belgium. The payment conditions were determined by the achievement of environmental commitments which we achieved in 2020.
Improving air quality in cities is also one of the ESG strategic goals of Interparking. This is why, in 2019, we were the first car park operator to roll out “Lung in the City”, enabling us to reduce significantly the amount of fine particles in our operations (see p.56).
In 2020, we revised our greenhouse gas (GHG) calculation methodology. The new method led to a higher reported total emissions, prompting us to adopt a more ambitious emissions reduction plan. The following year, we signed a green Interest Rate Swap (IRS) with stringent environmental commitments and joined the Global Real Estate Sustainability Benchmark (GRESB).
Interparking consistently outperforms its peer group average in the GRESB rating since 2021
in 2024
This international assessment compares the ESG performances of actors in real estate sector. From our very first entry, we scored above the average of our peers and grew year after year, obtaining a score of 92% in 2024.
In 2022, we worked with global sustainability consultancy Environmental Resource Management (ERM) to identify the ESG topics most material to our business and stakeholders. Six priority topics (see below) were agreed via consultation with our valued stakeholders (employees, end users, shareholders, car park holders, suppliers, society) and members of Interparking management.
Entering 2023, we outlined specific ESG objectives and key performance indicators (KPIs) (see here) and, with the assistance of Southpole, we conducted a physical risk assessment to examine the potential impacts of climate-related events on our parking facilities.
In 2024, we expanded the analysis to transition risks and opportunities through a climate-related scenario assessment to evaluate the potential effects of the shift towards a low-carbon economy. We then prioritized these risks based on their likelihood (determined through scenario analysis, literature review, and stakeholder interviews).
Also in 2024, Interparking has attained South Pole’s ‘Taking Climate Action’ label (previously known as CO2 neutral certification) which includes external audit by Vinçotte and by PwC. Interparking is now mapping existing resilience actions for physical hazards that represent a high or very high risk for material assets. As resilience measures for carbon pricing risks, we will leverage existing decarbonisation plans which will be enhanced in the future with Interparking Net Zero Emission strategy.
Double materiality assessment
In 2024, Interparking’s Double Materiality Assessment (DMA) aligned with EFRAG guidelines was carried out by South Pole. This assessment, followed by a gap analysis, resulted in a comprehensive identification and prioritization of impacts, risks, and opportunities for Interparking across environmental, social, and governance topics. The exercice identified the following topics – the same as its parent company AG Insurance – as being material from either an impact or financial perspective:
Community Engagement
Our strategic goal: Engaging and forming partnerships with our local communities such as cities, railroad operators and airports to ensure their considerations and ideas are taken into account (e.g., consultations with cities to ensure sustainable urban planning, partnerships to support local retailers, actors of the social and cultural life).
Interparking has entered into a number of partnerships, not only with players in the mobility and transport sector, but also with local authorities and service provider so as to expand the range of products and services we can offer.
This commitment is also reflected in a number of corporate philanthropic and sponsorship initiatives in social, environmental, cultural and sporting areas.