FedEx Corp (NYSE: FDX) is aiming for 30% alternative fuels by 2030, the company's president and CEO said last week, according to a New York Times report.
Speaking to a U.S. Chamber of Commerce aviation forum, CEO Fred Smith announced the 30 by 30 plan, saying the company wants to cut its greenhouse gas emissions and reduce air-transportation costs.
He specifically mentioned biodiesel produced from jatropha and ethanol from switchgrass when discussing the importance of "second-generation" biofuels.
"These non-fossil fuels must be capable of being easily mixed with existing petroleum aviation fuels that use existing infrastructure," he said.
Last fall the company announced a plan to reduce the carbon footprint of its airplanes 20% by 2020. To do this it will begin using more fuel efficient planes and pursue non-petroleum fuels.
Smith also suggested that an overhaul of aviation traffic-control systems could significantly reduce aviation emissions, by allowing for more efficient routing with satellite-based GPS technology.