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FedEx Newsroom

FedEx Chairman Frederick W. Smith Delivers Keynote Address at CERAWeek

March 9, 2013

Earlier today, FedEx Chairman, President and CEO Frederick W. Smith delivered the keynote address at CERAWeek, an annual energy conference in Houston drawing executives, businesses, and government representatives from around the globe. The remarks focused on the CERAWeek program theme: "Energy and the Next 30 Years."

Titled "The Future of Competitiveness in a Global World," Mr. Smith's address came in the wake of this week's 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.

Mr. Smith also spoke to the Wall Street Journal at the event and discussed the ongoing transition from diesel to natural-gas fueled trucks, as well as the potential for gas exports.

"We have so much gas, it would be foolish and at the end of the day penny-wise and pound foolish not to export," said Mr. Smith.

The full article is available via the Wall Street Journal's website: http://online.wsj.com/article/SB10001424127887323628804578348631137173040.html

Full remarks can be viewed here: http://youtu.be/yero1hH9J2c

FedEx was first company in the U.S. transportation logistics industry to set a fuel efficiency goal. FedEx committed to improving the overall fuel efficiency of the FedEx Express 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 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.

FedEx Express has pioneered a range of forward-thinking energy initiatives, including increasing the size of its advanced alternative-vehicle fleet to include a total of 360 hybrid-electric vehicles and 200 electric vehicles by the end of fiscal year 2013, purchasing vehicles with right-sized engines like the Sprinter vans manufactured by Mercedes-Benz, and incorporating almost 400 composite-body Reach vehicles into its global fleet by the end of its fiscal year 2013.

By continuing to pursue the most promising avenues of advanced technologies, enlisting a variety of experienced manufacturers, and a strategy of matching the right vehicle to each route, FedEx will continue to move the world's largest express transportation company forward in responsible and resourceful ways.

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