It’s Monday, March 8, and FedEx is going carbon neutral.
FedEx announced last week that it will invest $2 billion toward electrification, sustainable energy, and carbon sequestration as part of a larger effort to go carbon neutral by 2040. A big chunk of the money will go toward electrifying FedEx’s fleet of 43,000 vehicles. By 2025, FedEx aims for 50 percent of the vehicles it buys to be electric, with a goal of purchasing only electric vehicles by 2030.
A bigger challenge for FedEx’s carbon neutrality goal is offsetting the footprint of its cargo airline, which is the largest in the world, as the technology for electrifying flights has not progressed as far as it has for vehicles. FedEx also plans to donate $100 million to establish a new center for carbon capture research at Yale University, which could help develop new ways to offset emissions from FedEx’s airplanes.
“While we’ve made great strides in reducing our environmental impact, we have to do more,” said Mitch Jackson, FedEx’s chief sustainability officer, in a statement. “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.”
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