Alongside its 14th annual corporate social responsibility report, CVS Health has announced new goals in support of its long-term CSR strategy, Transform Health 2030.
The Transform Health 2030 strategy is guided by four priority areas, "Healthy People," "Healthy Business," "Healthy Community" and "Healthy Planet."
"Through the challenges of the past year, we have demonstrated an unwavering commitment to support the communities we serve. Our Transform Health 2030 strategy and the accompanying goals will allow us to extend our commitment into the future and address the health impacts that we'll face for years to come," said Eileen Howard Boone, senior vice president, corporate social responsibility & philanthropy and chief sustainability officer for CVS Health.
In addition to announcing goals that will guide actions and investments over the next decade, the report highlights the company's strategy for advancing employee, community and public policy initiatives that address inequity and injustice faced by Black communities and other disenfranchised populations.
For the first time this year, CVS Health launched a standalone Strategic Diversity Management Report to accompany the annual CSR Report.
"CVS Health is a transformative and innovative health services company and we know that strategic diversity management and innovation are invariably linked. Over the coming years, we will continue to take meaningful actions that champion justice, equity, diversity and inclusion, while supporting the health and wellbeing of all those we serve," said David Casey, senior vice president, workforce strategies and chief diversity officer for CVS Health.
The strategy's "Healthy People" pillar ecompasses the ways CVS Health delivers on its purpose of helping people on their path to better health across all touchpoints, the new goal is to facilitate 65 billion health care interactions by 2030.
CVS Health noted that key accomplishments supporting this work in 2020 included: administering more than 15 million COVID-19 tests at more than 4,800 CVS Pharmacy drive-thru sites, and in collaboration with community health organizations, employers and long-term care facilities; launching E-Clinic as a new telehealth solution to complement the existing Minute Clinic Video Visit, conducting nearly 20,000 telehealth visits; and expanding the HealthHUB model to 650 locations, continuing to put people at the center of the consumer health experience with offerings tailored to the needs of local patients and customers.
Within the "Healthy Business" pillar — which focuses on fostering a business that creates value and opportunity for colleagues, shareholders, business partners and vendors across the supply chain — the new goal is to invest more than $85 billion in inclusive wellness, economic development and advancement opportunities by 2030, the company said.
Key accomplishments supporting this work in 2020 included: embarking on an effort to bring conscious inclusion training to 100% of CVS Health colleagues; establishing a five-year, $5 million scholarship program for Black and Latinx colleagues in collaboration with the United Negro College Fund; and spending $3 billion with small and diverse Tier I suppliers and $1.5 billion with diverse Tier II suppliers.
Within the "Healthy Community" pillar — centered on supporting the health of communities across the United States by increasing access to health care, working to improve health outcomes, and reducing overall healthcare costs in the communities the company serves — the new goal is to provide more than $1.5 billion in social impact investments to build healthier communities by 2030.
Key accomplishments supporting this work in 2020 included: continuing longstanding support of National Association of Free and Charitable Clinics members for wrap around services for underserved patients, providing funding for 65 clinics in 17 states; providing more than $5 million in combined support to Feeding America to reduce food insecurity among vulnerable populations, which increased dramatically during the COVID-19 pandemic; and purchasing and delivering more than 200 tons of personal protective equipment to healthcare workers in communities most severely impacted by the pandemic.
Within the "Healthy Planet" pillar, which recognizes that the health of the planet is inextricably linked to the health of all people and underscores CVS Health's commitment to doing its part to reduce the company's negative environmental impacts, the new goal is to reduce CVS Health's overall environmental impact by at least 50% by 2030.
Key accomplishments supporting this work in 2020 included: approving new Science Based Targets to reduce absolute Scope 1 and 2 GHG emissions by 67% by 2030 from a 2014 base year and reduce absolute Scope 3 GHG emissions from purchased goods and services by 14% by 2030 from a 2019 base year; becoming a Founding Partner of the Consortium to Reinvent the Retail Bag, a multi-year collaboration to test innovative design solutions to today's single-use plastic retail bag; and launching CVS.com/gogreen, providing a single digital resource for customers to learn more about our sustainable product offerings, how to avoid waste and how to recycle our products and packaging.
CVS Health's 2020 CSR Report was developed in accordance with the Global Reporting Initiative Sustainability Reporting Standards, a global framework widely used by organizations to report on CSR/sustainability performance. The company completed a brief materiality refresh in 2020 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 2020 report also includes new reporting frameworks, including those promoted by the Sustainable Accounting Standards Board, the Task Force on Climate-related Financial Disclosures and Culture of Health for Business.
The report is available here.