models until its entire fleet of vehicles is zero-emission by 2040. In parallel with other changes, the company expects to become generally carbon neutral in the same year.
According to the FedEx plan, the phasing out of existing delivery trucks in favor of electric vehicles should lead to the fact that by 2025 the share of electric vehicles in the total volume of purchased vehicles will reach 50%, and by 2030 – 100%. Fossil fuel vehicles will be taken out of service within 10 years thereafter.
To begin with, the logistics giant intends to allocate $ 2 billion for the described initiative. Some of these funds will go to the purchase of electric vehicles, and some to alternative fuels to reduce emissions from aircraft and other vehicles. Since it will not be possible to completely eliminate fossil fuels, the company promised Yale University $ 100 million to open a research center that will tackle the problem of natural carbon sequestration. The center’s website says it will “focus on developing collaborative and innovative solutions to remove carbon dioxide from our atmosphere and mitigate the effects of greenhouse gas emissions.”
FedEx plans to work with customers to offer zero-carbon shipping and sustainable packaging. In addition, investments are planned to improve the energy efficiency of FedEx businesses around the world and enable them to operate on renewable energy sources.
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