The Unsuitablog

Exposing Ethical Hypocrites Everywhere!

Fidelity: A Tiny Stitch In An Ocean Of Wounds

Posted by keith on August 12th, 2008

Fidelity Dripping Blood

I feel like a cyclist with my mouth open sometimes — keep moving forwards and the flies will just pop in from time to time. Some of those flies will be big and nasty…like this one I received from a PR company this morning:

Hello Keith,

One of the ironies of the modern era is that computers haven’t helped us to use less paper. Instead we are using vastly more than ever before. This is absolute disaster for the environment. One fifth of all wood harvested ends up as paper. Pulp and paper is the fifth largest consumer of energy and in the US paper accounts for 40 percent of all solid waste.

So why do computers cause us to use so much paper?

To be sure it’s easy to print documents out and paper is portable. Another major reason is that we are still using antiquated paper and pen to sign and execute contracts. DocuSign is helping to change that with its end-to-end contract execution service that lets companies process and sign documents on the Web.

Now Fidelity Investments has jumped on board with DocuSign and will be rolling out the company’s e-signature and electronic contract execution services to thousands of independent advisors. Not only does this save time and money for the advisors while improving security, it also greatly reduces the need to print, fax and use overnight delivery services to hand-deliver documents. Instead, documents are sent, signed and processed over the Web.

We see Fidelity’s adoption of e-signatures as a major advancement in the way that financial institutions work and a sign that there is a greener future ahead. Can I arrange for you to speak with executives from Fidelity Investments and DocuSign, as well as a customer, to give you their impression of how this service works industry works.

Please let me know if you have questions or need more information.

Brian Edwards
McKenzie Worldwide PR
(503) 863-2002

Well, of course I’m going to speak to a load of corporate executives and give them some free advertising — after all that’s what The Unsuitablog does all the time, isn’t it? How stupid does a person have to be to send such an e-mail to this web site? I suppose as stupid as they have to be to think that people are going believe a company like Fidelity Investments actually care about the planet.

Let’s take a look at the kind of investments this new, ethical Fidelity are offering today…

Powershares Aerospace & Defense Portfolio

The top ten holdings of this investment fund which focusses on the tools of war are as follows:

Honeywell International, Inc. (“defence” technology manufacture)
Lockheed Martin Corporation (primary arms manufacture)
Boeing Company (“defense” airplane manufacture)
United Technologies (“defense” airplane manufacture)
General Dynamics (“defense” shipping manufacture)
Raytheon Company (primary arms manufacture)
Northrop Grumman Corporation (primary arms manufacture)
ITT Corporation (“defence” technology manufacture)
Textron, Inc. (“defence” equipment manufacture)
L-3 Communications Holdings, Inc. (“defence” technology manufacture)

Claymore/SWM Canadian Energy Income

Primarily invests in oil sands (the most polluting form of energy) and other heavily polluting energies. Top ten are:

Oilsands Quest, Inc. (oil sands)
Canadian Oil Sands Trust Trust Unit (oil sands)
Penn West Energy Trust Trust Unit (oil and gas)
Suncor Energy, Inc. (oil and gas)
Baytex Energy Trust Trust Unit (oil sands)
Imperial Oil (oil sands)
OPTI Canada Inc. (oil sands)
UTS Energy Corp (oil sands)
Enerplus Resources Fund Trust Unit (oil and gas)
Canadian Natural Resources, Ltd. (oil sands)

Market Vectors Global Agribusiness ETF

This is a big one – $1.6billion worth, in companies resposible for changing the way nature works or just destroying it. Top ten are:

Syngenta AG ADR (GMOs)
Potash Corporation of Saskatchewan, Inc. (fertilizer mining)
Deere & Company (deforestation)
The Mosaic Company (fertilizer mining)
Monsanto Company (GMOs)
Archer Daniels Midland Corporation (GM soybean processing)
Wilmar International Ltd (palm oil production)
IOI (palm oil production)
Yara Int’l (fertilizer manufacturer)
Agrium, Inc. (fertilizer supplier)

This is just a small sample of the kinds of products you can buy from Fidelity — the company that are promising “a greener future ahead” — out of many more that contain every awful company that you can imagine. In short, Fidelity offer investments in all of the least ethical companies on Earth, and by implication that makes Fidelity a completely unethical company, and thus by further implication, by linking themselves in a press release with Fidelity, that makes Docusign a completely unethical company as well. And finally, by sending out this e-mail, supporting both Fidelity and Docusign, that makes the company who sent it to me — McKenzie Worldwide PR — a completely unethical company too.

(Oh, and by the way, the reason companies use so much paper is to churn out endless amounts of crap telling us why we need them…)

2 Responses to “Fidelity: A Tiny Stitch In An Ocean Of Wounds”

  1. Brian Edwards Says:

    I do apologize for sending this information your way. I actually thought you might consider paper reduction as something that would be of value to the environment.

    Your last line line is completely false where I’m concerned: I didn’t send out or print any paper in passing this information to thousands of green bloggers. Apparently there is a bad apple in every barrel.

  2. keith Says:

    Not when it’s hypocrisy dressed up as news, Brian. The title says it all, although it could be renamed “A Sticking Plaster On An Amputation”.

    And I wasn’t referring to your e-mail — the paper comes from advertising, internal reports, external reports, brochures…


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