Deutsche Post AG to Invest EUR7 Billion to Slash Emissions

By Maitane Sardon

Deutsche Post AG said Monday that it will invest 7 billion euros ($8.33 billion) over the next ten years to reduce the amount of greenhouse gases it releases into the atmosphere as part of its goal to achieve net-zero emissions by 2050.

The German freight-and-logistics group said the money will be earmarked for alternative aviation fuels, expanding its zero-emission e-vehicle fleet and climate-neutral buildings.

Deutsche Post, which released 33 million tons of carbon dioxide into the atmosphere last year according to the company, also said it has set targets that are aligned with scientists' recommendations. It will aim to reduce its annual CO2 emissions to below 29 million tons by 2030 while growing its business, it said.

"I am convinced that by focusing even more on our ESG goals, we will remain the first choice for customers, employees and investors--and thus lay the foundation for long-term economic success," said Chief Executive Frank Appel in a statement.

Deutsche Post said it plans to take the achievement of its sustainability targets into account when calculating remuneration for the board of management.

The group has also committed to invest 1% of its net profits in social-impact programs and initiatives every year and to have at least 30% of female executives in management in 2025.

Write to Maitane Sardon at [e-mail]

(END) Dow Jones Newswires

March 22, 2021 06:17 ET (10:17 GMT)

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