Park Lawn Corporation
Climate Impact & Sustainability Data (2023)
Reporting Period: 2023
Environmental Metrics
ESG Focus Areas
- Environmental Protection
- Employee Relations
- Supply Chain Management
- Cybersecurity
- Data Privacy
Environmental Achievements
- Implementing energy and water conversation initiatives
- Performing emissions air modelling in some crematorium locations
Social Achievements
- Approximately 2,178 employees as of December 31, 2023
- Offering unique and flexible cremation service packages
- Offering value-added services such as catering, on-site kitchens and supplies, outdoor gardens, pavilions and event spaces, banquet halls, and on-site coffee and gift shops
Governance Achievements
- Maintaining an Audit Committee
- Implementing a Whistleblower Policy
Climate Goals & Targets
Short-term Goals:
- Construction of a new mausoleum at Westminster Funeral, Visitation and Reception Center in Toronto, Ontario
- Commencement of construction of a new 12,000 square foot building at Park Lawn Funeral Home and Memorial park in Kansas City, Missouri
- Continued development of a total of 28,000 new lots at the Eternal Sunset Memorial Park & Cemetery
- Commencement of construction for an additional 75 acre parcel in Lafayette Township, New Jersey
- Development of Cemeteries within a Cemetery, consisting of 5,500 lots of private estates, mausoleum and columbaria, ground burial spaces, upright monuments and cremation options at cemeteries in Mississippi, Tennessee and Texas
- Development of 1,000 glass front and granite niches in a climate-controlled, structural columbaria at St. Charles Memorial Gardens in St. Charles, Missouri
Environmental Challenges
- Supply chain disruptions
- Increasing number of cremations
- Inflation
- Changing consumer preferences
- Competition
- Cybersecurity risks
- Business continuity risks
- Significant weather events
- Replenishment of trust funds
- Pre-arranged funeral insurance contracts
- Increasing death benefits related to pre-need contracts
- Growth strategy challenges
- High fixed costs
- Reliance on key personnel
- Regulatory matters
- Geographic concentration
- Enforcement of judgments
- Litigation
- Professional liability practice claims
- Significant capital expenditures
- Unfavorable publicity
- Environmental and health and safety risks
- Unclaimed property
- Surety bonds
- Labour relations
Mitigation Strategies
- Advanced order timing and securing alternative sources of supply to mitigate inflationary pressures and lengthen lead times
- Developing crematoriums at several of its existing operations and offering unique and flexible cremation service packages
- Offering personalized and custom memorials and monuments with laser-etched images, personalized funeral merchandise options and digital presentation selection and planning services
- Acquiring businesses that are located close to or within a major city or town, and ensuring a smooth transition plan to maintain client-family relationships fostered at the local level
- Entering into a long-term commitment with one of its principal suppliers for burial and cremation products and merchandise
- Instituting MFA (multi-factor authentication), enhanced password and access protocols, geo-location protocols and zero-day protocols
- Warehousing data and server infrastructure in an ISO certified data center and utilizing a tiered recovery strategy
- Developing a contingency plan to minimize the impact of potential labour disputes on its business