FedEx and Lockheed Martin making strides with onsite power

FedEx and Lockheed Martin are making strides when it comes to clean energy as these noteable companies look to reduce carbon emissions.

FedEx Express (NYSE: FDX) will calculate the amount of CO2 released annually as a result of the shipping of its FedEx Envelope and purchase the equivalent amount of CO2 offsets from the not-for-profit BP Target Neutral.

Projects that will be supported in this way include a biogas farm facility in the Netherlands, a reforestation project in the Tanzanian Southern Highlands and a landfill gas collection system in Thailand, reports Energy Efficiency News.

“By making FedEx Envelope’s shipping carbon-neutral, we are extending our support for renewable energy solutions – innovations today that we hope will be standards in the future,” says senior vice president of global marketing, Rajesh Subramaniam.

The innovation is the latest in a series aiming to help the company meet ambitious emission reduction targets.

By the end of last year, FedEx had cut its aviation CO2 emissions by nearly 14% compared to 2005 levels and improved its fleet fuel efficiency by more than 16%. The company has also installed more than 6 MW of solar capacity.

Meanwhile, aerospace and defense company Lockheed Martin NYSE: LMT has announced that it has achieved its five-year global environmental goals a year ahead of schedule.

The 30 per cent cuts to carbon emissions came via a major energy efficiency drive, including switching to high efficiency lighting and HVAC systems, using wood waste to power its Owego plant in New York and buying renewable solar and wind energy.

For more on-site renewables news

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