Rite Aid Publishes Third Annual Corporate Sustainability Report

Strategic Insights -

Rite Aid has released its third annual corporate sustainability report, detailing the company's enhanced Environmental, Social and Governance (ESG) strategy. The report highlights Rite Aid's progress in reducing its environmental footprint, embedding sustainability into its value chain, optimizing the associate experience, and improving health outcomes in the communities it serves. The company's new sustainability pillars, introduced in the report, focus on building a thriving planet, business, workplace, and community.

Key Takeaways:

  • Rite Aid has established four key pillars underpinning its sustainability efforts: Thriving Planet, Thriving Business, Thriving Workplace, and Thriving Community.
  • The company has made progress in reducing its environmental footprint, including reducing energy consumption by 50%, increasing fleet fuel efficiency, and diverting over 50,000 tons of recyclable materials from landfills.
  • Rite Aid has worked with supplier partners to improve chemical management and product safety, eliminating eight chemicals of high concern from its private-brand formulated products.
  • The company has optimized its workforce through enhanced communication and engagement, including the hiring of a Vice President of Diversity, Equity & Inclusion and increased associate development opportunities.
  • Rite Aid has provided critical support to communities during the pandemic, administering over 5 million COVID-19 vaccines and conducting thousands of community vaccine clinics.
  • The company has installed over 826 safe medication disposal kiosks in local law enforcement facilities and 165 in its own stores, with plans to expand further.

Statistics:

  • Rite Aid reduced its energy consumption by 50% in 2020.
  • The company decreased its passenger vehicle fleet by 12%, saving 300,000 gallons of fuel and reducing emissions by 2,638 metric tons.
  • Rite Aid cut its advertising circular programs by 11 million copies per week, reducing its overall paper use by 35% in 2020.
  • The company diverted over 50,000 tons of recyclable materials from landfills in 2020.
  • Rite Aid eliminated eight chemicals of high concern from its private-brand formulated products, with only 13 formulas (1% of its assortment) still containing these chemicals.
  • The company administered over 5 million COVID-19 vaccines as of May 29, 2021.
  • Rite Aid installed over 826 safe medication disposal kiosks in local law enforcement facilities and 165 in its own stores.

Sources:

  • Rite Aid's third annual corporate sustainability report
  • Trent Kruse, senior vice president, investor relations and treasury, Rite Aid
  • Rite Aid Foundation Safe Medication Disposal program
  • Safer Chemicals, Healthy Families 5th annual "Who's Minding the Store?" retailer report card