Evolved strategy emphasizes impact on community health and wellness following its acquisition of Aetna
WOONSOCKET, R.I., April 4, 2019 /PRNewswire/ -- CVS Health (NYSE: CVS) today unveiled its 12th annual corporate social responsibility (CSR) report featuring its evolved platform, Better Health, Better Community, Better World. The company's new social purpose business strategy is designed to be more inclusive of the company's commitment to addressing the complexities of today's health care system and the role it plays in addressing the most pressing public health challenges of the day, nationally and in our communities.
"2018 was a historic year for our company, as CVS Health combined with Aetna, giving us an opportunity to help fundamentally transform the way health care is delivered," said Larry J. Merlo, President and Chief Executive Officer for CVS Health. "Our new socially-responsible business strategy ensures we put our capabilities and resources to work in tangible ways that make a difference in our local communities and in people's lives."
The Better Health, Better Community, Better World platform aims to deploy the assets, scale and expertise of our business to focus on three priority areas:
- Building Healthier Communities: Making community health and wellness central to CVS Health's charge for a better world.
- Leading and Inspiring Growth: Creating economic opportunities and value for employees, customers, suppliers and investors.
- Protecting Our Planet: Ensuring environmental sustainability is embedded in our approach to business operations and product development.
This year's report provides an update on CVS Health's enterprise commitment to tackling opioid misuse and abuse, including increasing the number of safe medication disposal sites by adding 750 units in CVS Pharmacy locations and expanding the Pharmacists Teach Prescription for Parents program to 26 new states.
The report also includes the company's annual Communication on Progress to the United Nations Global Compact (UNGC). CVS Health became the first U.S. pharmacy chain to join UNGC in 2018, confirming the company's commitment to implementing the Compact's ten principles with respect to human rights, labor, the environment and anti-corruption; engaging in partnerships to advance the broader goals of the United Nations; and taking actions in support of the Sustainable Development Goals.
In an effort to reduce the effect of climate change, CVS Health set new greenhouse gas (GHG) reduction targets in 2018 to reduce the absolute scope 1 and 2 GHG emissions by 36 percent by 2030, and to commit that 70 percent of its suppliers by emissions will set science-based emissions reduction targets on their scope 1 and 2 emissions by 2023. The company also developed a new CSR performance target for its fleet to reduce 2.5 million empty miles in the next five years.
"We believe our greatest opportunities ahead will be a result of our ability to meaningfully impact the health of local communities, bringing together the power of our business and strategic community investment," said Eileen Howard Boone, Senior Vice President, Corporate Social Responsibility and Philanthropy. "I am particularly proud to present this year's progress report because 2018 marks the biggest move we have ever made as a company in advancing our social business purpose as we welcomed Aetna to our enterprise."
Other notable accomplishments in 2018 include:
Building Healthier Communities
- Delivered $5.3M in free health care services through Project Health
- Provided more than $4 million in grants from the company and the CVS Health Foundation to support youth smoking and e-cigarette prevention, as part of its commitment to helping deliver the first tobacco-free generation
- Introduced MinuteClinic Virtual Care to provide quality, convenient, and affordable care via a mobile app or desktop computer
- Committed to transparency for all beauty imagery by the end of 2020, celebrating a more authentic representation of beauty
Leading and Inspiring Growth
- Created opportunities for nearly 85,000 new colleagues through workforce development programs and other recruiting efforts
- Provided opportunities for 2,800+ youth to participate in myCVS Journey Pathways to Health Care Careers
- Hired 3,200+ colleagues through our U.S. Department of Labor Registered Apprenticeship program for pharmacy technicians
- Drove a total economic impact of $5.8B and supported 38,000+ jobs through our diverse supplier program
- Enhanced our Board of Directors to include deep insurance company oversight experience by adding four new directors from Aetna
Protecting Our Planet
- Audited 500+ printers that produce packaging for our store brands portfolio to understand their sustainability capabilities
- Removed oxybenzone and octinoxate from our store brand sun screens with SPF 50 and lower
- Recognized among the top 3 percent of 5,000 companies as a CDP Supplier Engagement Leader
- Retrofitted 1,740 retail locations with interior LED lighting, saving $7.5 million in annual energy costs
CVS Health's 2018 CSR Report was developed in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Standards, a global framework widely used by organizations to report on CSR and sustainability performance. The company completed a materiality assessment in 2017 and focused its reporting on topics that reflect its most significant economic, environmental, and social impacts, or that substantively influence the assessments and decisions of stakeholders.
The report is available online at cvshealth.com/social-responsibility.
About CVS Health
CVS Health is the nation's premier health innovation company helping people on their path to better health. Whether in one of its pharmacies or through its health services and plans, CVS Health is pioneering a bold new approach to total health by making quality care more affordable, accessible, simple and seamless. CVS Health is community-based and locally focused, engaging consumers with the care they need when and where they need it. The Company has more than 9,900 retail locations, approximately 1,100 walk-in medical clinics, a leading pharmacy benefits manager with approximately 92 million plan members, a dedicated senior pharmacy care business serving more than one million patients per year, expanding specialty pharmacy services, and a leading stand-alone Medicare Part D prescription drug plan. CVS Health also serves an estimated 38 million people through traditional, voluntary and consumer-directed health insurance products and related services, including rapidly expanding Medicare Advantage offerings. This innovative health care model increases access to quality care, delivers better health outcomes and lowers overall health care costs. Find more information about how CVS Health is shaping the future of health at https://www.cvshealth.com.
SOURCE CVS Health