FedEx wants to play its role in reducing the effects of climate change. For this purpose, the transit firm reveals a new pledge today. According to this, it aims to be carbon-neutral for all of its projects by 2040. This goal is based on many different steps, starting with a $2 billion investment from FedEx HQ in three main fields.
These areas include vehicle electrification, sustainable energy, and carbon sequestration. For vehicle electrification, FedEx chooses to replace its whole fleet of pickup and delivery trucks with zero-emission EV alternatives by 2040. Meanwhile, 50% of its new vehicle purchases will be EVs by 2025 and it will be 100% by 2030.
The second project that is sustainable energy, is a comparatively more direct approach. FedEx will “continue to invest in alternative fuels” that can potentially minimize the emissions for its air and ground vehicles. FedEx hasn’t mentioned which energy sources it will be opting but solar and wind is more good options.
Then comes the third one – carbon sequestration. It will observe it funnel part of the $2 billion highlighted before into the Yale Center for Natural Carbon Capture. The amount will be used for the Center research for new methods of absorbing, storing, and otherwise eliminating excess CO2 from the environment on a “global scale.”
FedEx Corp CEO Frederick Smith said in its statement, “We have a responsibility to take bold action in addressing climate challenges. 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.”
It will be seen in the future if FedEx could achieve its goals, but 2040 is too far to say anything. All we can is hope for the best results of all this investment and effort.