CVS releases first Corporate Social Responsibility report

WOONSOCKET, R.I. CVS Caremark announced on Tuesday that it has released its first Corporate Social Responsibility report.

The report, which is available online at www.CVS.com, covers such matters as prescription safety, customer privacy, environmental management, and the safety of its products such as personal care items.

In the report, the retailer also explains what it is doing 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.”

“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,” stated 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, the baseline data covers the entire enterprise; in other cases the data pertains just to CVS/pharmacy operations. Data from 2007 was provided rather than for 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 company stated.

Going forward, the intent is to establish companywide metrics, especially for environmental indicators, and report data for the entire enterprise.