It aims to invest in zero-emission technology in its own transport fleet, as well as scientific research into the reduction of carbon emitted by the aviation industry. This investment further extends to the FedEx warehouse, office and sorting facilities.
FedEx aims to fund Yale University’s Center for Natural Carbon Capture through a $100 million investment.
The Center is researching methods to accelerate CO2 storage in a natural way. This research will initially focus on offsetting greenhouse gas emissions. It will also research the improvement of biological ecosystems and the geological carbon cycle. The centre aims to generate a portfolio of carbon removal strategies that can be implemented on a global scale.
FedEx aims to invest in the use of electric vehicles. By 2040, the entire fleet of pick-up and delivery vehicles used by FedEx will be zero-emission electric vehicles. FedEx is employing a program to phase out old vehicles and replace them with these electric alternatives. It is estimated that by 2025, half of all vehicles will be electric and by 2030, all vehicles will be powered by electricity.
FedEx will invest in sustainable supply chain practices, such as CO2 neutral shipping services and sustainable packaging solutions.
The packing giant will also invest in alternative fuels for its international shipping practices. This will be carried out with the aim of reducing aircraft emissions. The aviation sector is one of the most challenging sectors to decarbonise. This is because it requires high-power output and energy-dense fuels. FedEx had previous goals to reduce its aircraft emissions by 30% from 2005 levels by 2020. The transport company fell short of this aim and was only able to reduce its emissions by 27%.
FedEx also aims to increase the efficiency of its 5,000 global facilities. It hopes to invest in renewable energy, more efficient facilities and other energy management programs.