CVS Health
Corporate Bias Rating
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Risk Level:
Summary:
CVS Health (CVS) fired a Catholic nurse who refused to administer what she believed were life-ending drugs only months after ending its longstanding religious exemptions. Despite this ongoing wrongful termination lawsuit, CVS will dispense the abortion drug mifepristone at some of its pharmacies. CVS scored a 100 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, the company increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. CVS forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. The company provides a benefits package for employees which covers travel/lodging costs for an abortion and transgender medical procedures for covered employees and dependents, including children. CVS pushes for the use of abortion-inducing drugs across the country. The company is a member of the Global Alliance for Responsible Media and a gold partner of the Human Rights Campaign (HRC). CVS advocates for the Equality Act and supports transgender athletes playing in female sports. CVS funds multiple LGBTQ advocacy organizations and pledges to vet vendors for LGBTQ policies. CVS is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism. The company is committed to carbon neutrality by 2040. CVS opposed various state and local legislation intended to protect parental rights, girls’ sports, bathroom facilities, and gendered spaces. For these reasons, CVS Health receives a High Risk rating.
Board Bias
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CEO of CVS Health
Karen S. Lynch
Summary:
Headquartered in Woonsocket, Rhode Island, CVS Health is a member of the Fortune 250 operating in the Food and Staples Retailing industry. Karen S. Lynch and Roger N. Farah serve as CEO/President and Chairman, respectively, leading the company’s C-suite executive team and the board of directors. Amongst these teams, the collective leadership is responsible for $81,002 to Republican causes and $483,473 to Democratic causes. Under their tenure, CVS Health currently holds a 'High Risk' risk rating.
Political Contributions of Leadership:
$81,002
$483,473
Republican
Democrat
Shareholder Proposals
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| Date | ESG Category | Proponent | Summary of Resolution | Mgmt Rec | Total Vote % in Favor |
|---|---|---|---|---|---|
| 5/18/23 | Governance | John Chevedden | Give the Owners of 10% of Common Stock the Power to Call a Special Shareholder Meeting | Against | 40.80% |
| 5/18/23 | Social | New York State Common Retirement Fund | Assess/Report on Adherence to ILO/UN Trade Union Standards | Against | 26.30% |
| 5/18/23 | Governance | Trillium Asset Management | Adopt Paid Sick Leave Policy | Against | 26.20% |
| 5/18/23 | Governance | Myra K. Young | Require Stockholder Approval for Certain By-law Amendements | Against | 18.50% |
| 5/18/23 | Governance | National Center for Public Policy Research | Require a CVS-Exclusive Board of Directors | Against | 1.30% |
| 4/28/23 | Social | NorthStar Asset Management, Inc. | Report on Hiring Practices Impact on Diversity | Against | 17.50% |
| 4/25/23 | Governance | James McRitchie and Myra K. Young | Report on Election Spending | Against | 15.60% |
| 5/11/22 | Governance | John Chevedden | Special Meetings - Reduce Ownership Req. to 10% | Against | 42.30% |
| 5/11/22 | Social | Trillium Asset Management | Adopt Policy for Paid Sick Leave for All Employees | Against | 25.89% |
| 5/11/22 | Governance | Kenneth Steiner | Independent Board Chair | Against | 21.34% |
| 5/11/22 | Social | Myra K. Young | Report on External Public Health Costs of Junk Food Sales and Impact on Diversified Shareholders | Against | 11.82% |
| 5/11/22 | Social | National Center for Public Policy Research | Civil Rights and Non-Discrimination Audit | Against | 1.60% |
In the News
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AbbVie , Amgen , Bank of America (Merrill Lynch) , Caterpillar , Citigroup , Citizens Financial , Coca-Cola (Coke) , Colgate-Palmolive , CVS Health , Delta Air Lines , General Motors (GM) , JPMorgan Chase , Morgan Stanley (E-Trade) , Prudential Financial , Robert Half , Sherwin Williams , Uber , United Parcel Service (UPS) , Wells Fargo
CVS Health