FedEx Corp., a company that provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services, has unveiled details of its goal to achieve carbon-neutral operations globally by 2040.
To help reach this goal, FedEx is designating more than $2 billion of initial investment in three key areas: vehicle electrification, sustainable energy and carbon sequestration.
“We have a responsibility to take bold action in addressing climate challenges,” says Frederick W. Smith, chairman and CEO of FedEx Corp. “This goal builds on our longstanding commitment to sustainability throughout our operations, while at the same time investing in long-term, transformational solutions for FedEx and our entire industry.”
Key steps toward reaching the carbon neutral goal include:
-Vehicle electrification. By 2040, the entire FedEx parcel pickup and delivery (PUD) fleet will be zero-emission electric vehicles. This will be accomplished through phased programs to replace existing vehicles. For example, by 2025, 50% of FedEx Express global PUD vehicle purchases will be electric, rising to 100% of all purchases by 2030
-Sustainable fuels. FedEx will continue to invest in alternative fuels to reduce aircraft and vehicle emissions
FedEx says its commitment builds on a history of sustainable practices. Since 2009, the company’s efforts have contributed to an approximately 40% reduction in CO2 emissions intensity across the enterprise while package volume increased 99% during that period.