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| FedEx plans to build an electric transportation fleet by 2040 |
FedEx has announced an ambitious goal: achieve carbon-free operations worldwide by 2040.
To achieve this goal, the company has invested more than $ 2 billion in initial investments in three major areas: vehicle electrification, sustainable energy, and carbon sequestration.
FedEx is replacing existing trucks with electric models, so the entire fleet will be zero-emissions vehicles by 2040.
The company is making a transition to achieving its carbon neutral target in the same year.
FedEx has announced that it will phase out its existing package delivery vehicles and will make 50% of its global vehicle purchases electrically by 2025.
The company will buy all electric cars by 2030 and plans to shut down its fuel cars completely after 10 years.
The delivery giant, along with several companies pledging to achieve carbon-neutral status, provided $ 2 billion for the initial investment for the initiative.
Of course, part of that money goes to buying electric cars, but FedEx continues to invest in alternative fuels to reduce emissions from aircraft and cars.
Given that the carrier may need to use the fuel, the company has pledged $ 100 million to Yale University to open the Yale Natural Carbon Capture Center.
The university writes on the center's website that it is developing collaborative and innovative solutions to release carbon dioxide into the atmosphere and reduce the impact of greenhouse gas emissions.
FedEx also plans to work with its customers to make their supply chains sustainable with carbon-free shipping products and sustainable packaging solutions.
The company is also investing to improve the efficiency of its facilities around the world and enable them to operate with renewable energies.
FedEx President and CEO Frederick Smith (Frederick Smith) said: In the face of climate challenges, it is our responsibility to take bold action. This goal is based on our long-standing commitment to the sustainability of all businesses. Invest in long-term transformational solutions for the company and the industry as a whole.