The chairman and CEO of FedEx also spoke at the annual energy conference CERAWeek, where his keynote address came in the wake of the announcement that FedEx Express had surpassed its global vehicle fleet fuel efficiency goal seven years ahead of schedule and set a new target reduction within the same timeframe.
In 2008, FedEx was first company in the U.S. transportation logistics industry to set a fuel efficiency goal. It committed to improving the overall fuel efficiency of the FedEx Express global vehicle fleet 20 percent by 2020, as compared with its 2005 performance. Having now surpassed this goal with a more than 22 percent cumulative improvement in vehicle fuel economy (translating to a savings of approximately 20 million gallons of fuel globally each year), FedEx announced a revised, more aggressive goal of a 30 percent improvement in fuel efficiency for the global vehicle fleet by the original 2020 target date.
Approximately 35 percent of the FedEx Express diesel vehicle pickup and delivery fleet has already been converted to more efficient and cleaner emission models that comply with 2010 U.S. Environmental Protection Agency emission standards, reported the company through a press release.