CVS Health, with 2 new renewable energy projects, will dramatically reduce carbon footprint

Some may not immediately connect CVS Health with energy and sustainability.

Sheryl Burke, the company’s chief sustainability officer and senior vice president of corporate social responsibility, is happy to make the case.

“Investing in our planet and people’s health are interconnected,” she said.

That’s why CVS Health is announcing Thursday two agreements that total 264,000 megawatt-hours with a Pennsylvania-based energy company to purchase zero-emission, renewable energy equivalent to the annual electricity use of nearly 1,000 CVS Health locations in New Jersey and elsewhere.

CVS Health will purchase these Renewable Energy Certificates through two separate long-term agreements from enterprise solar projects in California and Maryland. These deals are made possible by long-term agreements Constellation Energy has with each of these solar projects.

CVS Health officials said supporting the development of renewable energy projects is an integral part of the company’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.

To make a meaningful impact against climate change, 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 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.

Burke couldn’t be prouder.

“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,” she said.