FedEx announced last week that it is planning to achieve carbon–neutral operations globally by 2040. The company said it's designating more than $2 billion of the initial investment in three key areas: vehicle electrification, sustainable energy, and carbon sequestration.
This includes a pledge of $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture. The center is doing research into methods of carbon sequestration at scale, with an initial focus on helping to offset greenhouse gas emissions equivalent to current airline emissions.
As reported in the publication Material Handling & Logistics, FedEx's key steps toward reaching the carbon-neutral goal include:
— Vehicle Electrification. By 2040, the entire FedEx parcel pickup and delivery (PUD) fleet will be zero–emission electric vehicles. This will be accomplished through phased programs to replace existing vehicles. For example, by 2025, 50% of FedEx Express's global PUD vehicle purchases will be electric, rising to 100% of all purchases by 2030.
— Sustainable Customer Solutions.FedEx will work with customers to offer end-to-end sustainability for their supply chains through carbon–neutral shipping offerings and sustainable packaging solutions.
— Sustainable Fuels. FedEx will continue to invest in alternative fuels to reduce aircraft and vehicle emissions.
— Fuel Conservation and Aircraft Modernization. FedEx will build on its successful FedEx Fuel Sense initiatives designed to reduce fuel consumption in its aircraft. Since 2012, the FedEx Fuel Sense and Aircraft Modernization programs have saved a combined 1.43 billion gallons of jet fuel and avoided over 13.5 million metric tons of CO2 emissions.
— Facilities. FedEx will continue efforts to make its more than 5,000 facilities worldwide more sustainable through continued investments in efficient facilities, renewable energy, and other energy management programs.
— Natural Carbon Sequestration.FedEx funding will help to establish the Yale Center for Natural Carbon Capture to support applied research into natural carbon sequestration solutions.
Another investment the company will make is a pledge of $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture. The center is doing research into methods of carbon sequestration at scale, with an initial focus on helping to offset greenhouse gas emissions equivalent to current airline emissions.