CVS Expands Usage of Renewable Energy
CVS Health has signed agreements with Constellation to purchase zero-emission, renewable energy that is equivalent to the energy use of nearly 1,000 locations in four states and the nation’s capital.
Totaling 264,000-megawatt hours, the stores covered are in California, Delaware, Maryland, New Jersey, and Washington, D.C.
"Investing in our planet and people's health are interconnected," said Sheryl Burke, chief sustainability officer and senior vice president of corporate social responsibility at CVS Health. "As our world continues to evolve, these sustainability investments we're making right now are increasingly important to create a healthier future for the communities we serve."
CVS Health will purchase energy and renewable energy certificates (RECs) through two separate long-term agreements with Constellation. These deals are made possible by Constellation's long-term agreements with solar projects located in California and Maryland. CVS Health will receive approximately 264,000 megawatt hours of energy per year through its retail agreement with Constellation, with that energy matched by Green-e Energy Certified RECs sourced from other renewable facilities throughout the U.S.
"CVS Health continues to be a leader in supporting newly constructed renewable resources and steadfast in its journey towards embracing sustainable energy," said Jim McHugh, chief commercial officer at Constellation. "We are thrilled to work with CVS Health once again and provide solutions towards a carbon-free future."
Supporting the development of renewable energy projects is an integral part of CVS Health's continued efforts to invest in initiatives and programs that focus on improving the world's health and addressing the environmental factors contributing to health inequities. The company is focused on reducing the carbon footprint of its direct operations and supply chain by increasing energy efficiency, implementing water-saving programs, eliminating waste, and reducing fuel usage.
CVS Health has now made five renewable energy investments since 2022. These two new investments with Constellation, the company's two agreements announced in 2023 and the first investment made in 2022 represent more than 500,000 MWh of clean, renewable energy. This is a significant share of the 2.2 million MWh of energy CVS Health used in 2022. They are important milestones as CVS Health continues to work toward sourcing 50% renewable energy by 2040, company officials said.
