Parkway Properties Increasing Waste Diversion Rates

Daniele Horton, head of sustainability at Parkway Properties, Inc., joined Nareit for a video interview at Nareit’s 2018 ESG Forum in Seattle.

Parkway’s portfolio consists of the Houston-based assets that were spun off into a new REIT following the 2016 merger between Cousins Properties Inc. (NYSE: CUZ) and Parkway Properties, Inc. Last year, Parkway was purchased by the Canada Pension Plan Investment Board (CPPIB).

Horton discussed some of the steps Parkway took to protect its portfolio from the impact of Hurricane Harvey in 2017. Following a risk assessment of the portfolio, Parkway installed flood gates at all major underground garages and installed pumps in low-lying areas, she noted. The presence of onsite maintenance during the hurricane prevented larger problems from occurring, she noted.

Meanwhile, Horton said Parkway has drastically expanded its waste tracking capabilities, which helped increase the waste diversion rate by 20 percent in 2017.

Horton also pointed out that Parkway is making health and well-being a high priority and is looking at gaining FitWell certification to validate initiatives already implemented.