CVS Caremark releases 2010 corporate social responsibility report
WOONSOCKET, R.I. — CVS Caremark announced on Tuesday the release of its 2010 corporate social responsibility report, which provides an overview of the company’s commitments to environmental stewardship, improving patient health outcomes and positively impacting people’s lives through its social investments.
The report, titled "Innovation, Leadership, Commitment," marks the company’s fourth annual CSR report, which is available online at Info.cvscaremark.com/CSR.
"Reporting annually on our CSR provides an important mechanism for keeping our stakeholders abreast of our priorities and goals, our plans for the future and the continued progress we’re making on our CSR-related initiatives," CVS Caremark president and CEO Larry Merlo stated.
In the environmental chapter of this year’s CSR Report, the company discloses the progress it made to reduce greenhouse gas emissions in 2010, compared with 2009 levels. The retailer established a 15% carbon intensity reduction goal over 2010 levels, to be achieved by 2018. In setting a carbon intensity reduction goal, the company refined its strategy to reduce emissions and shares the details of its plans in the report. Another topic covered in the report is its focus on driving better health outcomes and reducing costs for customers and patients. CVS Caremark has done considerable research on the implications of medication adherence and has published its findings in numerous peer-reviewed articles. The research has confirmed earlier findings that when patients do not adhere to their prescribed medication regimens, higher healthcare costs result. The company describes the programs and initiatives it has implemented to encourage medication adherence among patients.
The report also includes results of CVS Caremark’s 2010 employee engagement survey and details the ways it invests in programs aimed at improving the lives of children with disabilities and helping people, particularly those with limited or no health insurance, gain access to healthcare services.
"In keeping with its long tradition of giving back to our communities, CVS Caremark committed more than $50 million in support of the local communities we serve," Merlo said. "Through the 1,200 nonprofit organizations that received support from CVS Caremark in 2010, we positively impacted the lives of more than 3 million people."
The CVS Caremark 2010 CSR report was developed in accordance with the Global Reporting Initiative G3 guidelines, an international framework that is recognized and used by organizations to report on their CSR and sustainability performance. While this is the company’s fourth report, it is its first GRI report. The company met the GRI criteria required to self-declare a Level C.
Catalina’s Dick Buell exits
ST. PETERSBURG, Fla. — Catalina Marketing announced this week the departure of its chairman and CEO Dick Buell.
Replacing Buell, who was part of the Catalina team since 2004, is former Catalina CEO and co-founder George Off, who was voted by the board of directors to serve as interim CEO.
During Buell’s tenure, Catalina, which has been placing emphasis on its digital couponing business, launched its Coupon Network by Catalina last month. Prior to that, the company acquired E-centives and Collabrys, two digital couponing businesses from Invenda, last spring.
Board members Philip Hammarskjold and Mike O’Brien said that "under Buell’s leadership, a number of transformational changes delivered a twofold revenue increase."
"The board wishes to thank Dick for his significant contributions to Catalina," Hammarskjold and O’Brien said. "We are pleased to welcome George Off back to Catalina, and we look forward to working with him to pursue the company¹s vision in the next chapter of Catalina’s expansion."
"It is an honor to be an active part of Catalina once again, an organization filled with smart, talented and motivated professionals," Off said. "I am personally confident in the existing, overall strategic direction, and am fully committed to continuing the advancement of the impressive performance and innovation delivered in recent years."
NRF supports repeal of employer-mandated health care
WASHINGTON — The National Retail Federation announced that it is endorsing legislation that would repeal the employer mandate provision of last year’s healthcare-reform law.
“The healthcare-reform law enacted last year will hurt far more than help from a small-business perspective,” NRF SVP government relations David French said in a letter to Rep. Charles Boustany, R-La., chairman of the House Ways and Means Committee’s Oversight Subcommittee. “Retailers support both the overall repeal of the Patient Protection and Affordable Care Act … and specific changes to the law in the interim.”
Beginning in 2014, the Patient Protection and Affordable Care Act will require companies with 50 or more full-time workers to provide full-time workers with health insurance at government-mandated levels or pay penalties if they fail to do so. French noted that NRF argued during the debate over healthcare reform that the requirement would ultimately lead to job losses in the retail industry and said some retailers already have cut back hiring in anticipation of the mandate taking effect.
Boustany last week introduced H.R. 1744, the American Job Protection Act, which would use an amendment to the tax code to repeal the employer mandate.
“Additional healthcare costs cannot be absorbed given thin profit margins,” French said. “Fewer hires and fewer hours for retained employees is the likely outcome. Our members are already reporting fewer hires, franchises and other retail store openings as a consequence.”
NRF also has endorsed H.R. 5, the Help Efficient, Accessible, Low-Cost, Timely Healthcare Act, or HEALTH Act, a medical malpractice-reform bill introduced by Rep. Phil Gingrey, R-Ga.