Primary Climate Goal
FedEx's target annual Scope 1 + 2 emissions for 2040 should be equal to 0 Kt = 0% * 17,596 Kt, according to the company's stated climate goal.
In order to achieve this goal, FedEx would need to reduce its emissions at least by -926 Kt per annum over the period from 2022 to 2040:
-926 Kt = ( 0 Kt - 17,596 Kt ) / (2040 - 2021)
This translates into a -5.3% reduction in 2022.
The projected range shown on the chart is based on the Exerica's algorithm which takes account of both the company's stated goal and its past performance.
FedEx aims to achieve carbon neutrality for Scope 1 + 2 by 2040
Science Based Targets initiative In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
In October 2021 SBTi developed and launched world's first net zero standard, providing framework and tools for companies to set science-based net zero targets and limit global temperature rise above pre-industrial levels to 1.5 °C.
GHG emissions and Carbon intensity
Scope 1 + 2 GHG emissions (in tons of CO2e) divided by the company's Revenues (in USDm) for the same period
FedEx reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 30 June 2021 at 17,596 Kt (+1,412/+8.7% y-o-y). At the sime time, carbon intensity plunged to 210 t (-24 /-10.4% y-o-y).
FedEx's Scope 3 emissions took off to 3,853 Kt (
The company is committed to achieving carbon neutrality for Scope 1 + 2 by 2040, which translates into the estimated reduction of -926 Kt per annum over the period of FY2022 - FY2040. This target, however, has not been recognised as science-based (and as aligned with Paris Agreement) by the SBTi.
FedEx aims to achive carbon neutrality across its operations (Scope 1 + 2) in 2040. Companies normally become carbon neutral with the help of the acquisition of carbon offsets rather than absolute reductions in their own greenhouse emissions. Also, carbon neutrality does not include non-CO2 GHG emissions.