CVS Caremark Publishes 2013 Corporate Social Responsibility Report
WOONSOCKET, R.I., May 19, 2014 /PRNewswire/ --CVS Caremark (NYSE: CVS) today released its 2013 Corporate Social Responsibility (CSR) Report, which showcases the company's CSR strategy its Prescription for a Better World and its key priorities: building healthy communities, protecting the planet and creating economic opportunities. The company also reports its progress on its CSR and sustainability initiatives. The report is available online on the company's website at info.cvscaremark.com/CSR.
The key topics covered in the report are ones the company considers to be its CSR priorities: access to affordable health care; the environmental impacts of its operations, including those contributing to climate change; product stewardship; patient safety; employee engagement and workplace inclusion; and the safe disposal of prescription drugs, among others.
Prescription for a Better World defines CVS Caremark's CSR strategy and is aligned to support the company's purpose of helping people on their path to better health. The Report provides evidence of the company's core initiatives focused on providing better access to quality, affordable care and improving health outcomes. To advance this cause, the Report details the company's efforts to help Americans gain better access to health care. For example, during the Affordable Care Act (ACA) Health Insurance Marketplace enrollment period, CVS Caremark conducted one of the most comprehensive campaigns within the retail pharmacy channel, educating millions of Americans about their new coverage options.
A recurring theme in the report is CVS Caremark's decision to stop selling cigarettes and other tobacco products at its more than 7,600 stores by October 1, 2014. This decision reflects the company's commitment to building healthier communities and aligning products and services with its purpose. In conjunction with stopping the sale of tobacco products, CVS Caremark will also be investing in smoking cessation programs going forward.
Other highlights in the report include an update on the company's progress against its 15 percent carbon intensity reduction goal by 2018, which it is on track to reach; a stronger focus on product stewardship and evaluating and removing certain ingredients; and engaging employees in more diversity programs, as well as health and wellness initiatives.
The CVS Caremark 2013 CSR Report was developed in accordance with the Global Reporting Initiative (GRI) G4 Guidelines, an international framework that is widely used by organizations to report on their CSR and sustainability performance. CVS Caremark adopted the G4 reporting guidelines for its 2013 Report, rather than wait until the new GRI standards are mandatory at the end of 2015. As part of the G4 reporting process, CVS Caremark conducted a more robust CSR materiality process that was inclusive of stakeholder feedback and considered the boundaries of its impacts. For more information on GRI, visit http://www.globalreporting.org/.