Titled “Prescription for a Better World,” the report provides updates on the company’s progress against its 2016 CSR goals, and establishes several new performance targets.
“We’re incredibly proud of everything we accomplished in 2016 and believe that our business contributions have helped to address critical health care issues and deliver more affordable, accessible and effective care,” said president and chief executive officer Larry Merlo.
CVS has three strategic pillars that its CSR efforts are built on — Health in Action (efforts to make health care more affordable, accessible and effective), Planet in Balance (providing customers with healthier and more sustainable products) and Leader in Growth (operating its business sustainably and responsibly). What follows are some of the accomplishments from the 2016 report (grouped by strategic pillar).
Health in Action
• Delivered a low-cost alternative to auto-injectable epinephrine as a way to increase the affordability of prescription drugs.
• Broadened MinuteClinic services and piloted a first-of-its-kind partnership with the Department of Veterans Affairs to offer clinic services to more than 60,000 veterans served by the Palo Alto VA. The success of the pilot resulted in the recent expansion of the program to provide quality care to veterans served by the Phoenix VA Health Care System.
• Expanded healthier food and beverages to more than CVS Pharmacy 2,900 stores nationwide.
• Reached more than 170,000 students with prescription drug abuse education through the Pharmacists Teach program.
• Introduced “Be The First,” a five-year, $50 million initiative to help deliver the nation’s first tobacco-free generation.
Planet in Balance
• Announcing the removal of parabens, phthalates and the most prevalent formaldehyde donors from nearly 600 beauty and personal care products from store brand product lines.
• Published and implemented a responsible palm oil sourcing policy and committed to sourcing 100% of palm oil used in CVS products from verified, responsible sources by 2020.
Leader in Growth
• Published a human rights policy that aligns with the United Nations Guiding Principles on Business and Human Rights.
• Achieved its goal of spending $1 billion annually with diverse suppliers by 2017, one year ahead of schedule.
• Committed to expanding the company’s registered apprenticeships program to 3,000 participants by 2020.