FedEx Switches From Diesel To Hydrotreated Vegetable Oil In UK To Reduce Linehaul Emissions
Portfolio Pulse from Benzinga Newsdesk
FedEx is transitioning to hydrotreated vegetable oil (HVO) for its linehaul trucks in the UK, aiming to reduce emissions. This move involves over 170 trucks across three sites and is supported by a two-year agreement with Crown Oil.
September 17, 2024 | 10:04 am
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NEUTRAL IMPACT
FedEx's move to biofuels in the UK may have a minor impact on the iShares MSCI United Kingdom ETF (EWU) as it reflects broader sustainability trends in the UK market.
While FedEx's initiative is positive for sustainability, its direct impact on EWU is limited due to the ETF's broad exposure to the UK market.
CONFIDENCE 70
IMPORTANCE 20
RELEVANCE 30
POSITIVE IMPACT
FedEx's switch to hydrotreated vegetable oil for its UK linehaul trucks is a significant step towards sustainability, potentially enhancing its corporate responsibility image.
The transition to biofuels aligns with global sustainability trends and could improve FedEx's brand image, potentially attracting environmentally conscious investors and customers.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90