S&P Dow Jones and MSCI Change Parsons’ GICS Code to Research and Consulting Services

Rhea-AI Summary

Parsons Corporation (NYSE: PSN) has had its Global Industry Classifications Standard (GICS®) Code changed to Research and Consulting Services by S&P Dow Jones Indices and MSCI, recognizing its status as a leading professional services provider. This change reflects Parsons' commitment to environmental, social, and governance (ESG) and its dedication to maintaining high standards of performance, accuracy, and transparency while pursuing its climate goals.

CHANTILLY, Va., Dec. 04, 2023 (GLOBE NEWSWIRE) -- Parsons Corporation (NYSE: PSN) announced today that S&P Dow Jones Indices (a division of S&P Global) and MSCI recently changed the company’s Global Industry Classifications Standard (GICS®) Code to Research and Consulting Services acknowledging the company’s status as a leading professional services provider.

This change is an important step in Parsons’ commitment to environmental, social, and governance (ESG), enabling the company to maintain the highest standards of performance, accuracy, and transparency while achieving its climate goals. ESG is central to the company’s business and culture, underpinning Parsons’ core values, mission, and operations.

“This is important recognition for Parsons as a whole, above and beyond impacts to our ESG targets and initiatives,” said Mark Van Andel, vice president of ESG for Parsons. “This will help align our stakeholders on material goals and move our Cultivating A Responsible Enterprise strategy forward, which is at the heart of our company’s core values and a primary driver of why we deliver innovative, sustainable solutions that deliver a better world. This milestone strengthens our mission as we continue to uphold our reputation as a company that truly does good work while providing value to our customers, shareholders, and the communities where we live, work, and play.”

In 1999, S&P Dow Jones Indices and MSCI created GICS® to establish a global standard for classifying companies into industries and sectors. These two global index providers developed GICS in response to the global financial community’s necessity for a single comprehensive set of global sector and industry definitions.

Since the company’s IPO in 2019, Parsons has experienced significant organic growth as well as growth through M&A, broadening the company’s service offerings across its Critical Infrastructure and Federal Solutions segments.

Read more about Parsons’ commitment to ESG at https://www.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.

Media Contact:
Anne Morris        
+1 703.402.0250
Anne.Morris@Parsons.com

Investor Relations Contact:
Dave Spille
+ 1 703.775.6191
Dave.Spille@Parsons.com

FAQ

What is the GICS® Code for Parsons Corporation and why was it changed?

The GICS® Code for Parsons Corporation is now Research and Consulting Services, changed by S&P Dow Jones Indices and MSCI to recognize the company as a leading professional services provider.

How does the change in GICS® Code reflect Parsons' commitment to ESG?

The change reflects Parsons' commitment to environmental, social, and governance (ESG), enabling the company to maintain high standards of performance, accuracy, and transparency while pursuing its climate goals.

What is the significance of the GICS® Code change for Parsons Corporation?

The change is an important recognition for Parsons as a whole, aligning stakeholders on material goals and moving the company's Cultivating A Responsible Enterprise strategy forward.

What is the history of GICS® and why was it created?

S&P Dow Jones Indices and MSCI created GICS® in 1999 to establish a global standard for classifying companies into industries and sectors, in response to the global financial community's need for a single comprehensive set of global sector and industry definitions.

How has Parsons Corporation grown since its IPO in 2019?

Since its IPO in 2019, Parsons has experienced significant organic growth as well as growth through M&A, broadening its service offerings across its Critical Infrastructure and Federal Solutions segments.