- 3 March 2021
- Transport / Logistics Services
FedEx Corp has signalled ambitious first steps towards being net carbon neutral by 2040.
As a first step the logistics giant is to invest more than $2bn in sustainable energy, vehicle electrification and carbon sequestration. To help with carbon sequestration, FedEx has donated $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture that will look at carbon sequestration with the ultimate aim of removing as much carbon from the atmosphere as emitted by aircraft.
“We have a responsibility to take bold action in addressing climate challenges,” said Frederick W. Smith, Chairman and CEO, FedEx Corp. “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.”
FedEx is to commit to least 50% of its new pick up and delivery vehicles being electric by 2025. It will also look at providing a sustainable end-to-end supply chain for its customers, investing in sustainable fuels for its aircraft and HGVs, improving the energy efficiency of its buildings and a range of other issues to bring what is a very large operation down to net zero.
“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 Dr. Ingrid C. “Indy” Burke, the Carl W. Knobloch, Jr. Dean of the Yale School of the Environment. “Through the creation of the Yale Center for Natural Carbon Capture, we aim to develop measurable carbon capture strategies to help offset carbon emissions globally.”
“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. “At FedEx, we are committed to connecting people and possibilities resourcefully and responsibly. The steps we are taking today will contribute a positive impact for generations to come.”