UPS aims to be carbon neutral by 2050, grow revenue to up to $102 billion by 2023

Sandy Springs-based UPS announced Wednesday it aims to be carbon neutral by 2050.

The pledge by the package delivery giant includes carbon neutrality across the key categories of greenhouse gas emissions, including direct emissions and indirect emissions.

To get there, its 2035 targets include reducing CO2 per package by 50% from 2020 levels in its small package operations, powering all of its company facilities with renewable electricity and using sustainable aviation fuel as 30% of its aircraft fuel.

“Our strategic priorities are evolving to reflect the changing needs of our customers and our business, and what matters most to our stakeholders,” said UPS CEO Carol Tomé in a written statement.

UPS laid out its environmental goals as part of its investor conference planned for Wednesday.

Ahead of the conference, it also announced that it aims for 2023 revenue ranging from about $98 billion to $102 billion.

In 2020, the shipping company had revenue of $84.6 billion, up 14.2% year-over-year amid a pandemic shipping surge. The shift to online shopping due to COVID-19 is expected to have lasting effects, driving continued reliance on e-commerce.

About the Author

Another ‘above-normal’ hurricane season may be on the way, forecasters say

Ahead of the start of hurricane season on June 1, a new forecast predicts the Atlantic Basin will produce an above average number of tropical storms this year.