FedEx aims to go carbon-neutral by 2040

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A FedEx worker stacks packages on a cart on December 02, 2019 in San Francisco, California. Cyber Monday shoppers are on track to spend a record $9.4 billion on online purchases, a nearly 19 percent jump from one year ago, following strong Black Friday sales purchases of $7.2 billion. (Photo by Justin Sullivan/Getty Images)

MEMPHIS, Tenn. — FedEx has set aside $2 billion toward an “ambitious goal” of going carbon-neutral globally by 2040.

“We have a responsibility to take bold action in addressing climate challenges,” said Frederick W. Smith, Chairman and CEO of FedEx Corp. “This goal builds on our longstanding commitment to sustainability throughout our operations, while at the same time investing in long-term, transformational solutions for FedEx and our entire industry.”

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The Memphis-based company said its entire fleet will be replaced by zero-emission electric vehicles and it will invest in alternative fuels to reduce emissions for its planes. The effort also includes upgrades to 5,000 facilities worldwide.

The company has also pledged $100 million to Yale University to establish the Yale Center for Natural Carbon Capture. For more information, click here.

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