FedEx

FedEx reported Total CO2e Emissions - Market-Based Scope 1 + Scope 2 for the twelve months ending 30 June 2022 at 17,978 Kt (+383/+2.2% y-o-y). At the sime time, carbon intensity fell to 192 t (-17 /-8.3% y-o-y).

FedEx's Scope 3 emissions was up at 4,269 Kt (+416/+11% y-o-y). This is a higher growth rate than over the period since 2Q'15 (+9.4% CAGR).

The company is committed to achieving carbon neutrality for Scope 1 + 2 by 2040, which translates into the estimated reduction of -999 Kt per annum over the period of FY2023 - 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.