Commits to Carbon Neutral Operations Globally by 2040
Issued by FedEx Corporation
The FedEx 2021 ESG Report outlines how the company connects communities in responsible ways — in good times and during periods of great need. As part of this longstanding mission, FedEx set a new goal to achieve carbon neutral operations globally by 2040. To help reach this goal, the company designated more than $2 billion to support sustainable initiatives across its operations and to help establish the Yale Center for Natural Carbon Capture, which will accelerate research into methods of natural carbon sequestration.
FedEx also donated more than $65.5 million in cash grants and in-kind shipping in FY20 and enabled more than 10,000 humanitarian aid shipments to address impacts from the global pandemic, since January of 2020.
The report covers the 2020 fiscal year, which ended May 31, 2020, and references indicators from the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB), and the Task Force on Climate-related Financial Disclosures (TCFD).
The FedEx 2021 ESG Report outlines the company’s commitment to connecting communities in responsible ways — in good times and during periods of great need. As part of our longstanding mission, FedEx has set a new goal to achieve carbon neutral operations globally by 2040.
To help reach this goal, FedEx designated more than $2 billion in initial investment across key areas including vehicle electrification — by 2025, 50% of FedEx Express global PUD vehicle purchases will be electric, rising to 100% of all purchases by 2030. This investment also includes a pledge of $100 million to Yale University to help establish the Yale Center for Natural Carbon Capture. The Center will focus on accelerating applied research into natural carbon sequestration solutions across the aviation industry and beyond.
In FY20, FedEx also donated more than $65.5 million in cash grants and in-kind shipping, including more than 10,000 humanitarian aid shipments to address impacts from the global pandemic, since January of 2020.
Additional Highlights from the Report Include:
Since 2005, we have reduced our aircraft emissions intensity by 27%. In FY20 alone, our aircraft modernization and FedEx Fuel Sense programs have saved more than 255 million gallons of jet fuel and avoided more than 2 million metric tons of carbon dioxide equivalent (CO2e) emissions. We avoided more than 548,000 metric tons of CO2e in FY20 through vehicle efficiency initiatives across our 200,000+ vehicle fleet. Through FY20, FedEx Express has improved vehicle fuel efficiency by 44.5% from our 2005 baseline.
Safety Above All is first and foremost in every aspect of the FedEx business. In FY20, the FedEx lost time injury rate decreased by 6.4% as a result of its safety programs and protocols. FedEx found new ways to connect safely with its team members and our customers, and to help prevent the spread of COVID-19. FedEx provided free telemedicine to healthcare plan participants and made 24/7 confidential counseling available to all employees and their household members. FedEx also developed tools to create more awareness of diversity, equity, and inclusion (DEI) resources, increased educational opportunities and included unconscious bias training.
The oversight provided by the FedEx Board of Directors and its committees, including our corporate social responsibility and human resource management strategies and programs, is guided by the FedEx Code of Conduct. The Code applies to every FedEx board member and employee globally. In 2020, we launched a new public-facing website, Corporate Integrity & Compliance, featuring our Code of Conduct and all our global policies. The new website allows customers and other stakeholders to easily access some of our key policies that govern our ethical behavior to ensure customers can trust us with their shipments.
More about the Report
FedEx 2021 ESG Report covers progress and performance on material ESG topics for the 2020 fiscal year, which ended May 31, 2020, and references indicators from the Global Reporting Initiative (GRI) Standards, the Sustainability Accounting Standards Board (SASB), and the Task Force on Climate-related Financial Disclosures (TCFD). The full report can be found at https://www.fedex.com/en-us/sustainability/reports.html.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $92 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its 600,000 team members to remain focused on safety, the highest ethical and professional standards and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit about.fedex.com.