FEDEX CORPORATION 2022 ESG REPORT
CONTENTS
INTRODUCTION 3
About this ESG Report 3
About FedEx 4
Chairman's letter 5
GOVERNANCE
OUR PRINCIPLES 6
Governance structure and ESG risk management 6
Corporate integrity and compliance 8
Cybersecurity and data privacy 10
Public policy and advocacy 11
Our supply chain 12
ENVIRONMENT
OUR PLANET 13
Environmental governance structure 13
Strategic approach and climate change 14
Vehicle electrification 17
Sustainable fuels 19
Aircraſt fuel conservation and fleet modernization 20
Facilities 21
Sustainable customer solutions 23
SOCIAL
OUR PEOPLE 24
Social governance structure 24
Our culture 25
Human resource management 27
Diversity, equity, and inclusion 30
Health and safety 33
DATA APPENDIX 35
Environment 35
Social 39
Governance 41
INTRODUCTION
About this ESG Report
We are proud to present the FedEx 2022 ESG Report, which covers progress toward our environmental, social, and governance (ESG) strategies, goals, and initiatives. This report reflects our ESG progress and performance for each FedEx operating company and all geographies for our 2021 fiscal year (FY21), unless otherwise noted. FY21 ended May 31, 2021, and all references to FY denote the 12-month period ending on May 31 of the indicated year.
Our Data appendix includes key highlights regarding our ESG performance and progress, including year-over-year performance data. Our Scope 1 and 2 greenhouse gas (GHG) emissions data were externally verified by Cventure LLC.
This report references indicators from the Global Reporting Initiative (GRI) Standards and aligns with applicable industry standards from the Sustainability Accounting Standards Board (SASB) and recommendations from the Task Force on Climate-related Financial Disclosures (TCFD).
KEY LINKS
Environmental, Social, & Governance reportingReporting framework index
Scope 1 & 2 GHG verification statement
Corporate Social Responsibility
About FedEx
FedEx Corporation (FedEx) provides a broad portfolio of transportation, e-commerce, and business services through our operating companies. By competing collectively, operating collaboratively, and innovating digitally, we are building the network for what's next. We are committed to connecting people and possibilities across the world responsibly and resourcefully.
INTRODUCTION
Our operating principles, coupled with the size and scale of our network, allow us to remain flexible while positioning us to produce superior financial returns for our stockholders.
OUR PRINCIPLES
Every day, FedEx serves over 220 countries and territories and works to connect 99% of global gross domestic product. Our company's positive impact extends far beyond pallets and parcels and we play an important role in the U.S. and global economies by supporting customers, including small business customers, and team members across the world, as demonstrated in our U.S. Economic Impact Report.
OUR PLANET
KEY LINKS
OUR PEOPLE
About us
Investor relations webpage
U.S. Economic Impact Report
DATA APPENDIX
Chairman's letter
Agile. Proactive. Resilient: FedEx team members have reflected these characteristics in meeting the challenges posed by the operating environment of the past year - including record e-commerce volumes and immense global supply chain challenges. And since the beginning of the pandemic, we've been proud to support recovery efforts, including the ongoing delivery of vaccines, therapeutics, test kits, and related supplies. This is among the most important work in our company's history and will continue as long as needed.
In this unique global context, FedEx plays an essential role in supporting communities and economies worldwide - a benefit we've called "the FedEx Effect." Each day FedEx connects millions of individuals, businesses, and communities around the world with opportunities in a responsible and resourceful manner.
The success of our network is built on our company's sound environmental, social, and governance (ESG) practices, which are outlined in this report in three sections focused on our principles, our planet, and our people.
Our principles reflect our absolute commitment to ethics, integrity, and reliability in our business practices. These commitments also extend to our approach to our supply chain, policy advocacy,
data, and cybersecurity. Guided by the FedEx Code of Conduct and reporting channels, the FedEx governance structure is the bedrock of our continued success.
Our planet looks at the work underway to address the urgent challenges of climate change by implementing our "Reduce, Replace, and Revolutionize" strategy across our operations.
We continue to make progress toward our goal of achieving carbon neutral global operations by 2040, as announced last year. For example, despite continued business growth, as seen in FY21, we have reduced our emissions intensity by 45% over the last 12 years.
In April 2021, FedEx became the first North American transportation and logistics company to issue a sustainability bond, introducing a direct way for the investor community to support our carbon neutral operations goal. We are also working with strategic partners such as the Yale Center for Natural Carbon Capture and BrightDrop, a new business from General Motors. We know this collaboration is key to identifying sustainable technologies that can be scaled for the benefit of both FedEx and the entire transportation industry.
Our people and their commitment to delivering the Purple Promise set us apart. The distinct FedEx culture is a differentiator, and we are proud to have recently introduced a set ofunifying, enterprise-wide culture values to knit our entire network of nearly 600,000 team members together under shared values and behaviors. This evolution of our culture builds upon our "People-Service-Profit" philosophy and Quality Driven Management system which help FedEx prepare for what's next.
FedEx remains committed to compensating our team members fairly for their contributions and providing high-quality opportunities for growth. To make FedEx even more attractive to prospective team members at all levels, we have expanded learning and development programs, DEI initiatives in the workplace and the communities we serve, flexible work environments, and investments in team member safety, including free COVID-19 testing and vaccinations for all U.S. team members.
Anchored by these three dimensions at the core of our business, we will continue to innovate for our customers, create an environment where our team members can thrive, and work toward our ambitious goals to deliver for our customers and the planet.
FREDERICK W. SMITH Chairman and CEO
INTRODUCTION
OUR PRINCIPLESOUR PLANETOUR PEOPLEDATA APPENDIX
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Disclaimer
FedEx Corporation published this content on 25 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2022 13:21:09 UTC.
