{ "docId": "019dd923-622c-750b-8b97-d38644983b6e", "docSlug": "92406204b1f4", "documentTitle": "FleetCor Technologies (FLT)", "authorId": "52_Citron_Research", "authorName": "Citron Research", "documentKindSlug": "research-note", "documentKindLabel": "Research note", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2019-06-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 9, "pageCount": 15, "prevPage": 8, "nextPage": 10, "slideType": "villain_critique", "function": "name_villain", "density": "dense", "nDataPoints": 0, "notes": "The slide uses a rhetorical framing of 'willing accomplice' to characterize the relationship between the subject company and its partner.", "elementsJson": [ "headline_text", "paragraph", "photo" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b97-d38644983b6e/9", "deckHref": "/decks/019dd923-622c-750b-8b97-d38644983b6e", "deckJsonHref": "/decks/019dd923-622c-750b-8b97-d38644983b6e.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-d38644983b6e#slide-9", "components": [ { "bbox": null, "kind": "callout", "text": "They needed a willing accomplice.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd953-1ac4-74a6-be1e-a42b904642c1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.5, "w": 0.15, "x": 0.81, "y": 0.26 }, "kind": "image", "text": null, "attrs": null, "subkind": "illustration", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "d708fb6d-8db0-4a01-839e-e75d3a5cd361", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.72, "x": 0.036, "y": 0.765 }, "kind": "paragraph", "text": "This has become a problem as Citron was told during our discussions with former management from FleetCor that customer requests for proof that they were carbon neutral could not be fulfilled by FleetCor.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "04ca818d-b094-4e6e-b55a-2c92c47b97f1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.08, "w": 0.72, "x": 0.036, "y": 0.275 }, "kind": "paragraph", "text": "Why did FleetCor, the largest global fuel card operator, partner with GreenPrint and not one of the many established environmental consulting firms? They needed a willing accomplice.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "54f6daf1-0ff6-4ec9-aa03-8a389d88bfeb", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.72, "x": 0.036, "y": 0.875 }, "kind": "paragraph", "text": "Clearly, there was no audit mechanism in place to enforce carbon neutrality of fleets.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7dd9ae33-6ed0-4997-a0cb-731164607514", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.72, "x": 0.036, "y": 0.625 }, "kind": "paragraph", "text": "Greenwashing (noun) The practice of making an unsubstantiated or misleading claim about the environmental benefits of a product, service, technology or company practice.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9d66c24f-61cf-4fd7-bf7a-abf2597d3c8d", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.72, "x": 0.036, "y": 0.515 }, "kind": "paragraph", "text": "While companies like Lyft, Etsy, and Expedia use 3Degrees, the leader in carbon offset programs who has strict accreditation processes, GreenPrint appears to be a company that encourages the unsavory act of greenwashing. Just watch their video.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e1134e05-48fd-4445-b9fb-f1e1329660ec", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.72, "x": 0.036, "y": 0.415 }, "kind": "paragraph", "text": "Upon enrollment in the “Clean Advantage” program, FleetCor’s customers are given a certificate of zero emission or a clean fleet WITHOUT ANY AUDIT or third party verification which are standard in the industry.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e1170bba-9067-47fa-9ad0-be873a8584c9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.045, "w": 0.575, "x": 0.036, "y": 0.145 }, "kind": "title", "text": "GreenPrint – The Willing Accomplice", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9f61fd35-2e62-431f-9314-84379d01a17d", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [ { "name": "fraud-exposure", "slug": null, "matchId": "56e1691c-1ce4-4f04-9b65-665a94fb6fda", "evidence": "The slide explicitly frames the business practice as a deceptive act ('greenwashing') and cites internal sources to prove lack of verification.", "confidence": 0.9 } ], "arcBeats": [], "loops": [ { "to": 9, "from": 2, "name": "Aha Moment", "slug": "03-aha-moment", "bestFor": "Data-heavy sections, research findings, analytical arguments", "matchId": "a3cec2b1-1f12-4474-945d-e37a3f8f1c88", "evidence": "The document builds up to a moment of revelation about the program's fraudulent nature.", "position": 0, "objective": "To reveal the truth about the 'Clean Advantage' program", "structure": "The Problem/Question -> What the Data Shows -> The Insight", "confidence": 0.7, "description": "Establish a tension, present data, then deliver the insight that changes everything" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }