MEMPHIS, Tenn.--(BUSINESS WIRE)--FedEx Corp. (NYSE: FDX) announced that by 2020 it plans to reduce carbon dioxide emissions from its FedEx Express aircraft fleet by 20 percent and improve the fuel efficiency of its FedEx Express vehicle fleet by 20 percent. The ambitious new goals were outlined in the FedEx 2008 Global Citizenship Report released today. Since 2005, FedEx has reduced aircraft carbon dioxide emissions by 3.7 percent per available ton mile and improved FedEx Express vehicle fuel efficiency by 13.7 percent, reducing vehicle carbon emissions by almost one billion pounds.
"FedEx recognizes that one of the most responsible steps we and the industrial sector can take for our businesses, society and the environment is to reduce our dependence on fossil fuels," said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. "Our role is to connect the world in responsible and resourceful ways. The world faces big challenges, and we believe that collective, sustained efforts can create greater possibilities for people, businesses and nations worldwide."
FedEx continues to make significant progress toward achieving its fuel efficiency goals by investing in more fuel-efficient aircraft, vehicles and facilities including:
These efficiency and emission reduction goals and results were only one component of the FedEx 2008 Global Citizenship Report, which outlines the FedEx commitment to its team members, customers, shareowners and the communities we serve. In concert with the release of the report, FedEx launched The FedEx Citizenship Blog today at blog.fedex.com. The blog will help give a transparent view behind the scenes at FedEx, featuring FedEx executives and team members describing how they carry out FedEx's 35-year pledge to be a good corporate citizen and allow stakeholders to engage in a dialogue with FedEx on these important issues.
The FedEx Global Citizenship Report and blog highlight fiscal year 2008 milestones and fiscal year 2009 objectives in five key areas: Economics and Access, Environment and Efficiency, Community and Disaster Relief, People and Workplace, and Governance. Highlights from the report include:
Economics and Access
FedEx strives to connect the world in responsible and sustainable ways, helping meet consumers' needs and promote business opportunities in more than 220 countries and territories. In the Global Citizenship Report, FedEx reiterates its long-term financial performance goals that support the company's core financial strategies.
Environment and Efficiency
FedEx has pioneered innovations that are helping the entire transportation industry to reduce its environmental footprint. Notably, working with the Environmental Defense Fund, FedEx pioneered the development of commercial hybrid electric vehicles for use by FedEx and others in the transportation sector. On the solar-powered front, the FedEx 350,000-square-foot solar-powered facility in Oakland, Calif., was the largest commercial solar-electric rooftop system at the time it was built in 2005. Since then, FedEx has installed two more solar-powered facilities in California, with another scheduled to open in Cologne, Germany, in the spring of 2010.
FedEx has made progress toward the following long-term environmental goals:
Community and Disaster Relief
FedEx's ability to respond quickly, efficiently and on a global scale makes disaster relief the cornerstone of its philanthropic efforts. FedEx also extends its resources and networks in the areas of safety, health and education. In fiscal 2008, FedEx cash and in-kind donations totaled more than 1.1 percent of pretax profits.
People and Workplace
FedEx understands that the success of its business depends on the ability of our people to deliver, and takes responsibility to help its people develop their talents so they can succeed. In fiscal 2008, our full-time retention rate was 93.1 percent, women and minorities occupied 38.6 percent of management roles and participation rates for employee feedback surveys was 93.4 percent. Currently, FedEx holds the distinction of being named by Fortune magazine as a great place to work in more than 22 countries. FedEx has also been named to Fortune Magazine's list of 100 Best Companies to Work for in America for 10 out of 11 years, including in 2008.
FedEx has a long-standing commitment to the highest standards of corporate governance. FedEx and its independent Board of Directors work to exceed the minimum compliance standards set forth in the Sarbanes-Oxley Act of 2002 and the New York Stock Exchange's corporate governance listing standards.
The FedEx Citizenship Blog will be updated regularly. FedEx plans to release its Global Citizenship Report annually. FedEx encourages stakeholder dialogue about its corporate social responsibility efforts. Comments, questions and feedback may be sent to email@example.com.
About FedEx Corp.
FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenues of $39 billion, the company offers integrated business applications through operating companies competing collectively and managed collaboratively, under the respected FedEx brand. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 290,000 employees and contractors to remain "absolutely, positively" focused on safety, the highest ethical and professional standards and the needs of their customers and communities. For more information, visit news.fedex.com.
Certain statements in this press release may be considered forward-looking statements, such as statements relating to management's views with respect to future events and financial performance. These statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by the statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the global markets in which we operate, new U.S. domestic or international government regulation, the impact from any terrorist activities or international conflicts and other factors that can be found in FedEx Corp.'s and its subsidiaries' press releases and filings with the Securities and Exchange Commission.
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