Redefined CSR strategy

CSR strategy objectives

In 2018 Q-Park redefined its CSR strategy together with its CSR partner Sustainalize. The objectives of this process were twofold:

  • to develop a strategic sustainability model; and

  • to simplify the data collection and reporting process for sustainability data.

The value that we create for our stakeholders can be directly traced back to our business model. Our financial results ensure that we can continue to create value for society in the long term by improving the accessibility and quality of life in urban areas. And with this, we are also making our contribution to realising UN Sustainable Development Goals, and to Goals 9 and 11 in particular.

The strategic sustainability model is based on the Q-Park value creation model which was first drawn up in 2015. It is designed to give us a better understanding of our impact on society and the value we create for all our stakeholders.

Updated materiality analysis

Based on the impact we have on society and on our stakeholders, at the start of 2018 we examined whether we are still doing the right things in the right way from an intrinsic perspective. Through desk research we have now updated the materiality analysis implemented and themes identified in 2016.

  • Based on market analysis, we have identified current trends and developments.

  • By analysing the policies of different cities in which Q-Park operates, we have identified the interests of our key stakeholders (municipalities, residents, society, public landlords) and included these in the strategic sustainability model to close the gaps between market requirements and various global benchmarks.

  • We have translated an overview of the material themes important to Q-Park into the model: the Q-Park Liveability Model.

Q-Park Liveability Model

The Q-Park Liveability Model is the overarching strategic model for Q-Park's CSR activities, through which we can steer our business activities to create value for our stakeholders and society. We consider improving the liveability and sustainability of cities through our activities to be part of our purpose.

We have developed a visual to communicate our CSR strategy in a clear and simple manner. It has three layers:

  1. Values: The inner layer is the strategic layer with the four core values. All values are equal and provide a balanced and integrated 360° view on our business impacts.

  2. CSFs: The second layer is the tactical layer and shows the critical success factors (CSFs) in which Q-Park must excel.

  3. KPIs: The third layer is the operational layer for which we have defined key performance indicators (KPIs). Where this layer is missing, there will be qualitative reporting on the CSF.

Improving reporting processes and data quality

In addition to reassessing our strategy we have also endeavoured to simplify the reporting process and make this more efficient. Based on the new strategic model we have re-evaluated our KPIs and targets. As a result, we will not report on some of the existing indicators and we have drawn up new indicators that better reflect our core activities.

The data collection process is more efficient as much of the needed information can be retrieved directly from our back-office systems. This is also a major efficiency gain for our CSR reporting.

Four quadrants

The model is based on four value quadrants;

  • Value creation

  • Value capturing

  • Value sharing

  • Value retention

In the following sections we report on our performance and explain how we create value per critical success factor (CSF) and key performance indicator (KPI) in each quadrant. We also show our results for a KPI where we have the data available.