CVS Health is a healthcare company based in the United States that operates in the Pharmacy Benefits Management (PBM) sector. The company is committed to providing affordable and accessible healthcare solutions to its customers, and has made significant strides towards decarbonisation and the adoption of renewable energy sources in its operations.

CVS Health has recognised the importance of reducing its carbon footprint and has set ambitious targets to achieve this goal. The company has committed to reducing its carbon emissions by 36% by 2030, and has already made significant progress towards this target. CVS Health has implemented a range of energy efficiency measures across its operations, including the installation of LED lighting and the use of energy-efficient equipment. The company has also invested in renewable energy sources, such as solar and wind power, to reduce its reliance on fossil fuels.

One of the key initiatives that CVS Health has undertaken to reduce its carbon footprint is the adoption of corporate Power Purchase Agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, which guarantees a fixed price for electricity generated from renewable sources. By entering into a corporate PPA, CVS Health is able to secure a stable and predictable source of renewable energy, while also reducing its carbon emissions.

In 2019, CVS Health signed a 20-year corporate PPA with a wind farm in Texas, which will provide the company with 70% of its electricity needs. The wind farm is expected to generate over 800,000 MWh of renewable energy each year, which is equivalent to the energy consumed by over 70,000 homes. The PPA is expected to reduce CVS Health's carbon emissions by over 100,000 metric tonnes per year, which is equivalent to taking over 21,000 cars off the road.

CVS Health has also made significant investments in corporate energy efficiency measures. The company has implemented a range of energy-saving initiatives across its operations, including the installation of LED lighting, the use of energy-efficient equipment, and the implementation of smart building technologies. These measures have helped to reduce the company's energy consumption and carbon emissions, while also improving the comfort and productivity of its employees.

In addition to its efforts to reduce its carbon footprint, CVS Health is also committed to promoting renewable energy and decarbonisation more broadly. The company is a member of the RE100 initiative, which is a global campaign that brings together leading companies committed to 100% renewable electricity. By joining the RE100, CVS Health has committed to sourcing 100% of its electricity needs from renewable sources by 2025.

CVS Health has also made significant investments in renewable energy research and development. The company has partnered with leading research institutions to develop new technologies and solutions for renewable energy generation and storage. These investments have helped to drive innovation in the renewable energy sector, and have contributed to the development of new technologies that are more efficient and cost-effective.

Overall, CVS Health is a leader in the decarbonisation and adoption of renewable energy sources. The company has made significant investments in energy efficiency measures and renewable energy sources, and has set ambitious targets to reduce its carbon footprint. By adopting corporate PPAs and investing in renewable energy research and development, CVS Health is helping to drive the transition to a low-carbon economy and contribute to a more sustainable future.