New supply truck purchases will be all-electric by 2030.
FedEx aims to do its bit to minimise the impact of climate change. To do so, the transit company today revealed a new commitment: by 2040, it intends to be completely carbon-neutral in all of its operations. This will be a multi-step target, beginning with FedEx HQ’s $2 billion investment in three main areas.
These fields are vehicle electrification, renewable energy and carbon sequestration. First, FedEx expects to replace the entire fleet of pick-up and delivery trucks with zero-emission EV alternatives by 2040. In the meantime, by 2025, 50% of the new vehicle sales will be EVs. This figure will grow to 100% by 2030.
As for renewable energy, this is reasonably straightforward: FedEx will “continue to invest in alternative fuels” that can minimise or eliminate pollution from its air and ground vehicles. FedEx has not indicated the energy sources it will pursue, but solar and wind seem like good candidates.
At last, we have the “Carbon sequestration” portion of FedEx’s pledge, which will see it funnel part of the $2 billion mentioned before into the Yale Center for Natural Carbon Capture. The cash will help the Center research new ways of absorbing, storing, and otherwise removing excess CO2 from our environment on a “global scale.”
“We have a responsibility to take bold action in addressing climate challenges,” said FedEx Corp CEO Frederick Smith in a statement. “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 remains to be seen whether or not FedEx will be able to accomplish its objectives, but 2040 is a long way off, so it seems likely. Let’s only hope that their efforts will make a difference.