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CVS Health accelerates sustainability commitments with renewable energy purchases

June 23, 2023 |3 minute read time

Person installing solar panels.

WOONSOCKET, R.I., June 23, 2023 — CVS Health® (NYSE: CVS) today announced two agreements to purchase clean, renewable energy. By working with NRG Energy, Inc. brand Direct Energy, the company will power over 400 CVS Health locations in Texas, and through Constellation, it will power 147 CVS Health locations in Michigan.

“We continue to see the impact the environment has on our health and well-being,” said Sheryl Burke, Senior Vice President of Corporate Social Responsibility and Chief Sustainability Officer, CVS Health. “That’s why we’re focused on investing in clean, renewable energy and advancing our sustainability commitments to improve the health of our planet.”

Through the Direct Energy agreement, CVS Health will purchase renewable energy credits derived from a wind facility located in Crockett County, Texas which helps reduce emissions associated with their annual power usage. The purchase is estimated to generate more than 100,000 megawatt hours (MWh) of carbon-free electricity (CFE) per year, avoiding approximately 90 million pounds of CO2 equivalent (CO2e) emissions, which is equal to taking 9,084 cars off the road for one year.

“We are committed to helping customers meet their sustainability and budgetary goals through access to programs like Renewable Select,” said Scott Hart, Head of Sales, NRG Business. “CVS Health is leading the way towards a cleaner energy future, and we are proud to further advance its renewable goals.”

CVS Health will also advance its sustainability efforts with Constellation by receiving energy and renewable energy certificates from Swift Current Energy’s Double Black Diamond Solar Project in downstate Illinois. The company will purchase approximately 35,000 MWh of energy per year from Double Black Diamond, which is expected to help the company reduce its carbon footprint by nearly 17,000 metric tons annually. This is the equivalent emissions of taking nearly 3,800 cars off the road for one year.

“Through this long-term agreement, CVS Health is demonstrating its commitment to combatting the climate crisis while supporting the development of a new-build renewable asset,” said Jim McHugh, Chief Commercial Officer at Constellation. “We’re pleased to support CVS Health in its sustainability journey and offer a zero-emissions energy solution that advances their carbon reduction goals.”

These recent investments and the first investment CVS Health made last year to power 309 locations in Illinois and Ohio with Constellation are important steps toward progress of achieving the company’s goal of sourcing 50% renewable energy by 2040.

For more information about ongoing efforts at CVS Health to build a healthier and sustainable future, view the company’s ESG Report.

About CVS Health

CVS Health® is the leading health solutions company, delivering care like no one else can. We reach more people and improve the health of communities across America through our local presence, digital channels and over 300,000 dedicated colleagues – including more than 40,000 physicians, pharmacists, nurses and nurse practitioners. Wherever and whenever people need us, we help them with their health – whether that’s managing chronic diseases, staying compliant with their medications or accessing affordable health and wellness services in the most convenient ways. We help people navigate the health care system – and their personal health care – by improving access, lowering costs and being a trusted partner for every meaningful moment of health. And we do it all with heart, each and every day. Follow @CVSHealth on social media.

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Courtney Tavener

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