FedEx to Invest $2 Billion in Bid to Be Carbon Neutral by 2040
By Colin Kellaher
FedEx Corp. on Wednesday said it will invest an initial $2
billion as part of a commitment to achieve carbon-neutral
operations globally by 2040.
The Memphis, Tenn., package-delivery giant said the initial
investment will focus on vehicle electrification, sustainable
energy and carbon sequestration.
As part of its plans, FedEx said its entire parcel pickup and
delivery fleet will be zero-emission electric vehicles by 2040.
FedEx said it also pledged $100 million to Yale University to
help establish the Yale Center for Natural Carbon Capture, aimed at
accelerating research into methods of carbon sequestration at
scale, with an initial focus on helping to offset greenhouse-gas
emissions equivalent to current airline emissions.
Write to Colin Kellaher at email@example.com
(END) Dow Jones Newswires
March 03, 2021 07:01 ET (12:01 GMT)
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