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CVS Health Invests $600 Million to Address Systemic Racism & Inequality

CVS Health recently announced that it will invest nearly $600 million over five years to advance employee, community and public policy initiatives that address inequality faced by Black people and further decapacitated communities.

The investment follows a commitment from President and CEO Larry Merlo to evaluate how the company operates and how it can use its influence and numbers to be a force for good in communities across America.

“Our more than 300,000 employees are a microcosm of America, and a reflection of the diversity that is foundational to who we are as a country. The strategic agenda we’re laying out today will harness the strength of that diversity and focus on the areas where we can have the greatest impact.”

Larry J. Merlo, President and CEO of CVS Health

The investment will focus on improving the employee experience, supporting communities the company serves and influencing public policy — building on its longstanding commitments to foster diversity in workplace culture and address health disparities among individuals. Collectively, the company will invest in the following areas:

  • Mentoring, sponsorship, development, and advancement of diverse employees
  • Company-wide training and corporate culture programs with a focus on promoting inclusion
  • Partnership and development programs for CVS Health’s diverse suppliers
  • Workforce initiatives including building on the company’s highly successful partnerships to provide employment services and training to underserved communities
  • Increased affordable housing, which is inseparably linked to health
  • Proper access to healthcare, including their Project Health initiative
  • Partnerships with civil rights and social justice organizations to support shared goals

Merlo continued, “The private sector must take action to get to the heart of institutional racism. As we learn from the perspective of our Black colleagues and the diverse communities we serve, we’ll use that input to inform our advocacy agenda going forward.”

CVS Health employees continue to unite around a common goal to meet consumers where they are — to create higher quality, simpler and more affordable experiences for all.

To learn more about the company’s initiative, click here.