FedEx vows carbon-neutral operations by 2040
FedEx Corp., which boasts the world’s largest cargo airline, unveiled a goal for its global operations to reach carbon neutrality by 2040. The company 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,” said Frederick W. Smith, chairman and CEO of FedEx.
By 2040, FedEx vows that its parcel pickup and delivery fleet will be electric. The company will also work with customers to offer end-to-end sustainability for their supply chains through carbon-neutral shipping options and sustainable-packaging solutions.
In addition, FedEx says it will continue to invest in alternative fuels to reduce aircraft and vehicle emissions. The company has a goal to obtain 30 percent of its jet fuel from alternative sources by 2030.
Furthermore, the air-cargo giant will build on current initiatives to reduce aircraft fuel consumption. Its programs to reduce fuel consumption so far have conserved nearly 1.5 billion gallons of jet fuel since 2012.
For its more than 5,000 facilities globally, FedEx will continue to invest in energy efficiencies, renewables and more.
Finally, the company is pledging $100 million to help establish the Yale Center for Natural Carbon Capture.
“Addressing climate change is a complex challenge that demands urgent action, and natural carbon capture strategies will be one key part of that action,” said Ingrid Burke with the Yale School of the Environment.
According to FedEx, its efforts since 2009 have contributed to a 40 percent reduction in CO2 emissions intensity across FedEx operations while package volume increased 99 percent in the same time frame.