Energy Efficiency, GHG Emissions, Sourcing Renewables - March 4, 2021
FedEx commits to carbon-neutral operations by 2040
FedEx Corp. announced on March 3 that it set a goal to achieve carbon–neutral operations globally by 2040. To help reach this goal, FedEx is designating more than $2 billion of the 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,” Frederick W. Smith, Chairman and CEO, FedEx Corp., said in a statement. “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. This will be accomplished through phased programs to replace existing vehicles. For example, by 2025, 50% of FedEx Express global pickup and delivery vehicle purchases will be electric, rising to 100% of all purchases by 2030.
- Sustainable Customer Solutions. FedEx will work with customers to offer carbon–neutral shipping and sustainable packaging.
- Sustainable Fuels. FedEx will continue to invest in alternative fuels to reduce aircraft and vehicle emissions.
- Fuel Conservation and Aircraft Modernization. FedEx will build on its successful initiatives designed to reduce fuel consumption in its aircraft.
- Facilities. FedEx will continue efforts to make its more than 5,000 facilities worldwide more sustainable through continued investments in efficient facilities, renewable energy, and other energy management programs.
- Natural Carbon Sequestration. FedEx funding will help to establish the Yale Center for Natural Carbon Capture to support applied research into natural carbon sequestration solutions with a $100 million investment.
The FedEx 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.