American multinational, FedEx, has published its 2023 environmental, social and governance (ESG) report, highlighting how its teams across the organisation are furthering the company’s focus on its ‘Our Planet, Our People, and Our Principles’ initiative.
The report, from the transportation, e-commerce, and business services giant, Fedex, detailed how the company is on track to hit carbon neutrality by 2040, decreasing its carbon dioxide emissions intensity on a revenue basis by 48.9% from 2009 through 2022, during which average daily package volumes grew by 142%. The company also avoided the use of 150 million gallons of jet fuel through aircraft modernisation efforts, reducing its total 2022 jet fuel consumption by more than 10%.
Alongside, this FedEx provided mentorship and learning opportunities to more than 33,000 frontline team members in partnership with 1,700 mentors through the FedEx Ground Purple Pathways workforce career track program, which won the American Transportation Association DEI Change Leader Award this year. Following this, the company was recognised as one of Ethisphere’s 2023 World’s Most Ethical Companies.
The firm’s global supply chain created significant economic activity, and FedEx operations and business activity indirectly contributed to net economic output worth an estimated $22.6 billion across the global economy in the financial year of 2022. In the report, FedEx claimed it worked closely with its suppliers and collaborated with internal stakeholders to advance its ESG goals throughout its value chain, with a particular focus on diversity and sustainability.
In 2023, the transport company received the Women’s Business Enterprise National Council’s Top Corporations for Women’s Business Enterprises award for its sustained commitment to the inclusion of women-owned businesses in its supply chain.
“This is a pivotal moment for FedEx. We have spent the last 50 years developing solutions that have made the world stronger, smarter, and better. We won’t stop now” said Raj Subramaniam, President and CEO of FedEx in the report.
In April, it was announced that the company plans to merge its operating companies into a single organisation, aiming to improve efficiency and better serve customer needs. This consolidation process is expected to be completed by June 2024. As a result, FedEx Express, FedEx Ground, FedEx Services, and other operating companies will become part of the Federal Express Corporation. This move is intended to create a stronger and more profitable enterprise.
“We are building a simplified experience for our customers, who are at the centre of everything we do, so they can adapt to the market,” said Subramaniam. “This combination will allow us to provide customers with even greater value, offering the most advanced data-driven insights to help them make smarter decisions for their business.”
A full link to the report can be found here.
FedEx was established in 1971 and has since become a notable presence in the shipping industry, offering a wide range of transportation solutions to businesses and individuals worldwide. With a focus on customer satisfaction and a dedication to innovation, FedEx has developed a reputation for providing reliable and efficient delivery services.
Utilising advanced technologies and a vast transportation network, it offers express shipping, freight forwarding, e-commerce solutions, and supply chain management services.
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