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I have been following this website for sometime now
https://www.canada.ca/en/immigratio...l-us-you-want-sponsor-parent-grandparent.html

But it seems like CIC has not opened sponsorship for 2020 and there seems to be no further information.

Can anyone here provide information on if there are other ways to sponsor parents?

Parent sponsorship was never guaranteed. Canada accepts young immigrants to balance out their ageing population. You will have to wait and see what the announcement will be for PGP2020 and if you qualify. Due to covid 19 I think rhere will likely be a delay as well as delays throughout the government and immigration services.
 
I have been following this website for sometime now
https://www.canada.ca/en/immigratio...l-us-you-want-sponsor-parent-grandparent.html

But it seems like CIC has not opened sponsorship for 2020 and there seems to be no further information.

Can anyone here provide information on if there are other ways to sponsor parents?

There is no other way to sponsor your parents. However if they meet the requirements (have enough points), they can qualify and apply to immigrate on their own through an economic immigration program like Express Entry.