A comprehensive commitment
We recently announced a 15-year initiative to purchase solar energy that is equivalent to the power use of 309 CVS Pharmacy® locations by the end of 2024. It’s part of a bigger company-wide goal to source 50% renewable energy by 2040 and reduce our environmental impact by 50% by 2030.
For this 15-year initiative, we will purchase renewable energy from Constellation Offsite Renewables, the largest producer of carbon-free energy in the U.S., to facilitate our renewable energy transaction. “These long-term sustainability commitments are essential to increasing the amount of clean energy on the grid and helping solve the climate crisis,” said Constellation Chief Commercial Officer Jim McHugh.
By purchasing this renewable energy, CVS Health will reduce its carbon footprint by more than 38,000 metric tons each year. According to the EPA’s Greenhouse Gas Equivalency Calculator, this is the emissions equivalent of nearly 7,400 homes in a single year.
It’s just one of many steps we’re taking to protect the environment. CVS Health also continues to reduce resource consumption across our operations through lighting and transportation upgrades, optimizing digital solutions to reduce paper and offering alternatives to single-use bags. We also have water reduction goals, climate policies and approaches to waste management.
To address widening health inequities, we’ve also established meaningful goals to expand access to affordable care and address racial disparities, according to the ESG report.
We’re proud to say that we were among the first companies in the world to have our net-zero targets validated by the Science-Based Target Initiative, which provides us with a clear plan to balance greenhouse gas emissions.
“Investments in renewable energy enable us to help create a more sustainable world for all of us today and for generations to come,” Sheryl adds.
Friedrichs also takes a long view of his work. “Change is slow, and we’re not going to meet our necessary goals in my lifetime, but if we don’t work on it hard and work on it starting now, we’re not going to get there,” he says. “Hopefully my children and grandchildren will see the changes, live more comfortably — and be healthier.”
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