CVS Health Advances Sustainability Efforts Through Purchase of Renewable Energy

CVS Health’s long-term commitment supports development of 42 megawatts of new solar; helps company reduce carbon footprint associated with its energy use by more than 38,000 metric tons each year

WOONSOCKET, RI (Aug. 10, 2022) — CVS Health® (NYSE: CVS) today announced a 15-year agreement with Constellation (NASDAQ: CEG) to purchase clean, renewable energy equivalent to the energy use of 309 CVS Health locations in Illinois and Ohio.

“Our agreement with Constellation is an important step toward achieving our goal of sourcing 50 percent renewable energy by 2040,” said Sheryl Burke, senior vice president, Corporate Social Responsibility, CVS Health. “Investments in renewable energy enable us to help create a more sustainable world for all of us today and for generations to come.”

Through this agreement, CVS Health will receive renewable energy and renewable energy certificates equal to a 42-megawatt share of the Mammoth Central solar facility, the third and final phase of Doral Renewables’ Mammoth Solar project located in Indiana . The agreement will help CVS Health reduce its carbon footprint by more than 38,000 metric tons each year. This is the equivalent emissions of nearly 7,400 homes’ electricity use in one year according to U.S. EPA estimates.

CVS Health will use the Constellation Offsite Renewables (CORe) product to facilitate its renewable energy transaction. CORe connects customers to the economic and sustainability benefits of large-scale, offsite renewable energy projects and is among Constellation’s suite of retail power products that help customers achieve their carbon reduction goals, including opportunities to match power usage hour-by-hour with locally produced carbon-free energy on 24/7/365 basis.

“We commend CVS Health on taking proactive steps to reduce its carbon footprint and are proud to offer a clean energy solution that will help the company source its power supply from solar energy,” said Jim McHugh, chief commercial officer, Constellation. “These long-term sustainability commitments are essential to increasing the amount of clean energy on the grid and helping solve the climate crisis.”

Investing in renewable energy is part of CVS Health’s robust commitment to reducing its environmental impact. Recognized as a corporate leader in climate action, the company was one of the first in the world to have its net-zero targets validated by the Science-Based Target Initiative. CVS Health continues to reduce resource consumption across its operations through lighting and transportation upgrades, optimizing digital solutions to reduce paper, alternatives to single-use bags and offering products that are good for customers and the environment. Additionally, the company has introduced new water reduction goals, climate policies and approaches to waste management.

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

With an estimated capacity of 1.3 GW, Mammoth Solar will be one of the country’s largest solar farms upon completion.

About Constellation

A Fortune 200 company headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, emissions-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 16 million homes, providing about 10% of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy. Follow Constellation on LinkedIn and X.

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.