CVS Health has announced that it will be signing a 15-year agreement with Constellation to purchase clean, renewable energy. The sourced energy will equate to the energy use of 309 CVS Health locations in the states of Illinois and Ohio and is part of the company’s mission to source 50% renewable energy by 2040. By using Constellation’s Offsite Renewables (CORe), CVS Health will be able to clear the way for its renewable energy transactions, and this contributes to the company’s goal to reduce its carbon footprint.
CVS has also implemented environmentally conscious practices into its operations by reducing resource consumption from lighting and transportation upgrades, limiting paper waste, providing alternatives to single-use bags, and offering customers eco-friendly products. Interested parties can view the company’s ESG report to learn more about its sustainable efforts.
Renewable Energy Transactions
CVS Health Signs Renewable Energy Agreement with Constellation
Trend Themes
1. Renewable Energy Consumption - As organizations strive to reduce their carbon footprints, they will adopt more renewable energy sources that power their operations.
2. Offsite Renewables Sourcing - Offsite Renewables (CORe) can help companies reach their renewable energy targets by allowing them purchase energy from offsite renewable sources.
3. Sustainable Business Operations - Companies can reduce their environmental impact through eco-friendly practices such as reducing resource consumption, limiting paper waste, and offering eco-friendly products.
Industry Implications
1. Energy - The energy industry can innovate by providing more renewable energy options and technologies to meet the increasing demand for clean energy sources.
2. Retail - Retailers can adopt sustainable practices such as reducing energy consumption, limiting waste, and offering eco-friendly products to reduce their carbon footprint and meet growing consumer demand for environmentally conscious products.
3. Healthcare - The healthcare industry can improve its impact on the environment by adopting sustainable practices such as reducing energy consumption, reducing paper waste through digital records, and investing in renewable energy sources.