FedEx Corp. has announced an ambitious goal to achieve carbon-neutral operations globally by 2040.
To help reach this goal, FedEx is investing more than $2bn in three key areas: vehicle electrification, sustainable energy, and carbon sequestration.
This includes a pledge of $100m to Yale University to help establish the Yale Center for Natural Carbon Capture, accelerating research into methods of carbon sequestration at scale, with an initial focus on helping to offset greenhouse gas emissions equivalent to current airline emissions.
Key steps toward reaching the carbon-neutral goal include:
According to FedEx, since 2009, its efforts to reduce carbon emissions has contributed to an approximately 40% reduction in CO2 emissions intensity across the enterprise while package volume increased 99% during that period.
“While we’ve made great strides in reducing our environmental impact, we have to do more. The long-term health of our industry is directly linked to the health of the planet, but this effort is about more than the bottom line – it’s the right thing to do,” said Mitch Jackson, Chief Sustainability Officer, FedEx Corp.
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