Over the past year, FedEx has launched Priority Earth, a de-carbonisation initiative for sustainable logistics. To help move their 2040 carbon-neutral operations target forward, they designated more than $2bn of initial investment in three areas: vehicle electrification, sustainable energy, and carbon sequestration. The investment included a pledge of $100m to Yale University to help establish the Yale Center for Natural Carbon Capture, which is focused on identifying strategies that can scale to remove carbon dioxide from the atmosphere.
FedEx claims to have delivered on a Component of their Electrification Strategy, by purchasing its first few all-electric, zero-tailpipe emissions delivery vehicles from BrightDrop, a new business from General Motors. Earlier this year they expanded their initial agreement to purchase an additional 2,000 more EVs.
FedEx also has issued an eight-year, €600m sustainability bond tranche in Europe, as well as joining a coalition of investors in the inaugural fund of TPG Rise Climate, which aims to help entrepreneurs and businesses grow viable climate technologies.