FedEx will spend $2 billion to become carbon neutral by 2040
FedEx will spend $2 billion in “initial investments” to become carbon neutral by 2040, the company announced today. The move comes as many of the world’s biggest automakers are also pledging to phase out carbon-emitting vehicles within the next several decades.
FedEx claims it is the largest cargo airline in the world, with more than 650 aircraft in operation. As such, it has a particularly large carbon footprint, making its pledge to go completely carbon neutral a uniquely massive challenge.
The money will be spent in three key areas: vehicle electrification, sustainable energy, and carbon sequestration. FedEx will also donate $100 million to Yale University’s efforts to devise new ways to…