New Vehicle Fuel Efficiency Goal Set
Submitted by: FedEx Corporation
Posted: Apr 20, 2017 – 08:00 AM EST
MEMPHIS, Tenn., Apr. 20 /CSRwire/ - FedEx Corp. (NYSE: FDX) announced today the online release of its 2017 Global Citizenship Report (GCR), which details how the company connects the world responsibly and resourcefully. The annual report includes updates on the company’s strategies, goals, programs and progress in three key areas: Economy, Environment and People. The report also includes statistics that track the progress of the company’s citizenship goals in fiscal year 2016, which ended on May 31, 2016.
Highlights from this year’s report include:
FedEx invested more than $46 million in 97 global communities in FY16 as part of its newly-launched FedEx Cares charitable giving program. The goal of the initiative: invest $200 million in 200 communities by 2020 to create opportunities and deliver positive change around the world. Through FedEx Cares, the company advances entrepreneurship, creates employment pathways for underserved populations, enhances sustainable transportation, makes roads and pedestrians safer, and uses its global network to deliver resources where they are needed most.
“We constantly challenge ourselves to tackle big problems, in our own backyard and on a global scale, whether it’s helping small businesses expand market reach or investing in communities to help address youth unemployment,” said Neil Gibson, vice president, Corporate Communications, FedEx Services. “Everything we do to support local economies goes back to our purpose–connecting people and possibilities.”
A diverse workforce, supplier base and culture enabled FedEx to better serve customers. In FY16, the company spent $9.2 billion with small, women-owned and minority-owned suppliers, a 37% increase from FY15.
Customers who sought information about the company’s corporate citizenship and carbon emissions data as part of their purchasing process accounted for $6.7 billion in FY16 revenue.
FedEx Express raised the stakes and revised its vehicle fuel efficiency goal. The company set a new goal to increase vehicle fuel efficiency by 50% by 2025 from a 2005 baseline. In FY15, FedEx Express met its goal of increasing vehicle fuel efficiency by 30% by 2020, which was achieved five years early.
“FedEx is committed to advancing our vision of practical sustainability,” said Mitch Jackson, vice president, Environmental Affairs & Sustainability, FedEx Corp. “Thanks to the innovation and commitment of our team members, we’re changing what is possible and making our goals a reality.”
As of 2016, the company has more than 2,700 alternative fuel vehicles in its fleet, which is an increase of nearly 44% since FY15.
FedEx also saved more than 153 million gallons of jet fuel in FY16 by continuing to modernize its aircraft fleet and improve operations. That’s the equivalent of 230 Olympic-sized swimming pools.
In FY16, FedEx avoided more than two million metric tons of carbon dioxide emissions through fuel and energy saving initiatives across the company, which is the equivalent to the carbon sequestered by more than 1.9 million acres of U.S. forest in just one year.
Three new solar installations came online in FY16 bringing the total to 18, helping maintain the company’s ranking as one of the top corporate users of solar power in the U.S., according to the Solar Energy Industries Association.
FORTUNE again ranked FedEx as one of the “World’s Most Admired Companies”. The survey measures nine attributes related to financial performance and corporate reputation. This is the 17th consecutive year that FedEx has ranked among the top 20.
FORTUNE also named FedEx as one of the “10 Best Workplaces for African-Americans.”
FedEx supports team members who wish to give back to the communities in which they live and work. In FY16, team members volunteered more than 93,000 hours in more than 500 cities worldwide.
The company retained 88% of its full-time U.S. team members, up 8% from FY15.
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