Earlier this month, FedEx announced that it will achieve carbon-neutral operations worldwide by 2040.
The company announced an initial investment of $2 billion towards electric vehicles, sustainable energy and carbon sequestration, which is the capture and removal of carbon dioxide from the atmosphere.
To this end, FedEx pledged $100 million to Yale University for the establishment of the Yale Center for Natural Carbon Capture.
FedEx said that its entire pick-up and delivery (PUD) fleet will be zero-emission by 2040, with a phased replacement of existing vehicles with electric ones. By 2025, 50% of its global PUD fleet purchases will be electric, going all the way up to 100% by 2030.
Credit: Zain Saleem
Similarly, FedEx will be reducing fuel consumption in its aircraft, by continuing its Fuel Sense and Aircraft Modernization initiatives. The company will continue its investments in alternative fuels and in making its 5,000 facilities more sustainable and efficient.
FedEx will also continue to offer end-to-end sustainability solutions for its customers, with carbon-neutral shipping and other sustainability-related options available.
According to FedEx, the company has seen a 40% reduction in carbon dioxide “emissions intensity” since 2009, while increasing parcel volume by 99%.