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 colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

March 03, 2021 07:01 ET (12:01 GMT)

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