CVS Caremark Releases Company’s First Corporate Social Responsibility Report
In the report, the company also explains what it is doing to build on its long-standing commitments to provide exceptional customer service throughout its enterprise, create a great workplace environment, instill strong corporate governance practices and make a positive difference in local communities, and in particular among children with disabilities.
The decision to include certain topics in the report was partly informed by the Global Reporting Initiative guidelines, but also by conducting an issues assessment, a process that helped to identify the most material issues of importance to CVS Caremark and to its various stakeholder groups.
"Publishing our first CSR Report has been a thorough and comprehensive endeavor that encompassed virtually every department across our broad organization. In many ways it has helped us gain a further understanding of the issues that matter most to our customers, stockholders, local communities, and other stakeholders," said Tom Ryan, Chairman, President and Chief Executive Officer of CVS Caremark. "And in turn, we hope our report will provide our stakeholders - including our employees - with a deeper appreciation of how our mission and core values are rooted in our commitment to corporate social responsibility."Data presented in the report is from 2007 and will serve as baseline for future reports. In some instances, this baseline data covers the entire enterprise; in other cases the data pertains just to CVS/pharmacy operations. Data from 2007 was provided rather than multiple years, as is generally preferred for CSR reports, because of the timing of the merger between CVS and Caremark, which was finalized in mid-2007. The intent going forward is to establish companywide metrics, especially for environmental indicators, and report data for the entire enterprise.