FedEx sets new fleet fuel efficiency target after surpassing 2020 goal
FedEx has increased its 2020 fuel efficiency target for its global vehicle fleet to 30% after surpassing its previous goal in less than five years.
The express transportation company beat its 20% 2020 target, set in 2008, with more than 22% cumulative improvement in fuel economy for its vehicles.
The target increase mirrors the company's 2012 announcement to raise its aircraft emissions goal from 20% to a 30% reduction in global aircraft emissions intensity by 2020.
Staff vice president of Environmental Affairs and Sustainability at FedEx, Mitch Jackson, said: "Today's announcements are major milestones, not only for FedEx Express and our sustainability efforts, but for the entire transportation industry".
"We are encouraged by the technological improvements, in addition to the commitment demonstrated by FedEx team members around the world, that have allowed us to reduce our impact on the environment and the communities we serve."
Improving its fuel efficiency at a faster rate than expected has been achieved through "pursuing the most promising avenues of advanced technologies, enlisting a variety of experienced manufacturers and optimizing our vehicle operations".
The company says that by the end of its fiscal year 2013, it will have increased the size of its advanced alternative-energy vehicle fleet to include a total of 360 hybrid-electric vehicles and 200 electric vehicles.
Through these efforts to increase vehicle fuel efficiency, FedEx Express expects to save approximately 20 million gallons of fuel this year.