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FedEx Corp. FDX,
said on Wednesday it would invest $ 2 billion in its pledge to be carbon neutral by 2040. As part of the plan, the parcel delivery giant said its entire fleet of pickups up and delivery (PUD) would be electric vehicles by 2040. of its PUD purchases FedEx Express will be electric vehicles by 2025, increasing to 100% by 2030. In addition, FedEx has pledged 100 million dollars to Yale University to create the Yale Center for Natural Carbon Capture, will continue to invest in alternative fuels to reduce aircraft and vehicle emissions, and will make efforts to make its more than 5,000 facilities more sustainable. “While we have made great strides in reducing our environmental impact, we need to do more,” said FedEx Director of Sustainability Mitch Jackson. “The long-term health of our industry is directly linked to the health of the planet, but this effort goes beyond the bottom line – it’s the right thing to do.” FedEx stock, which was still inactive in pre-market trading, has fallen 11.3% in the past three months, while the Dow Jones Transportation Average DJT,
rose 7.8% and the Dow Jones Industrial Average DJIA,
gained 4.7%.
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