FedEx Corporation (NYSE: FDX) has disclosed its goal to attain carbon-neutral operations internationally by 2040. FedEx is allocating more than $2 billion of the original investment in three key areas. The three key areas include carbon sequestration, vehicle electrification, and sustainable energy.
Furthermore, the initiative of the firm also includes the promise of $100 million to Yale University to assist launch the Yale Center for Natural Carbon Capture. The main aim is to speed up the research into methods of carbon capture and storage at the level. The primary focus on providing assistance to compensate for greenhouse gas emissions corresponding to existing airline emissions.
FedEx Corporation (NYSE: FDX) shares were trading down 0.95% at $259.60 at the time of writing on Tuesday. FDX share price went from a low point around $88.69 to briefly over $305.66 in past 52 weeks. FDX's market cap has stayed high, reaching $68.74 billion at the time of writing.
The key step for the achievement of the carbon-neutral goal includes vehicle electrification, fuel conversation and aircraft modernization, sustainable customers solutions, and Neutral carbon capture and storage. FedEx will continue to make investments in different fuels to lessen aircraft and vehicle exhaust fumes.
The path toward sustainable development demands new strategies for eliminating and the storage of excess carbon on Earth. The Yale Center for Natural Carbon Capture will stimulate multidisciplinary research across the natural sciences and engineering in an attempt to fast-track this work.