Deutsche Post Invests Billions in CO2 Reductions

Germany’s postal company, Deutsche Post, says it will spend some EUR 7 billion by 2030 to reduce its greenhouse gas emissions. That comes on top of a 2017 pledge to be carbon neutral by 2050.

The money will be used for climate-friendly transport and buildings, among other things. The company is targeting 60 percent quota of electric vehicles for last-mile delivery and intends on having 80,000 EVs on the street. To do that, they’ll be in the market after it was announced Deutsche Post would no longer produce its own electro-transporter, the Streetscooter, in-house.

In addition, the salaries of top Deutsche Post management will be most closely tied to sustainable development goals.

“We are making a green company out of our yellow enterprise,” said Deutsche Post CEO Frank Appel in a statement. “With that, we’ll be also making a contribution to our planet and our society.”

The company can afford invest such large sums because profits are booming, in part thanks to increases in e-commerce due to the coronavirus pandemic. In early March, Deutsche Post raised its profit forecast for 2021 to more than EUR 5.6 billion.