WEBVTT - Our favorite climate numbers #2

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<v Speaker 1>Welcome to Zero.

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<v Speaker 2>I'm Oscar Boyd and I'm Christine Driscol.

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<v Speaker 1>We're the producers on zero and we are joined as

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<v Speaker 1>always by our eminent host at Sha Rati. Actually, welcome

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<v Speaker 1>back to London. You've been in Singapore, Australia and India

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<v Speaker 1>visiting and interviewing all sorts of interesting people working in climate.

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<v Speaker 1>How were your travels?

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<v Speaker 3>Oh, really good, energizing, exhausting, surprising, all the things that

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<v Speaker 3>good travel is supposed to be.

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<v Speaker 2>What was the best thing you saw?

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<v Speaker 3>I mean, that's an easy one, because I went to

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<v Speaker 3>the Great Barrier Reef. It's very hard to beat a

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<v Speaker 3>world wonder, which I'd been looking forward to see. The

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<v Speaker 3>other wonder is Singapore. It's a man made wonder and

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<v Speaker 3>that was crazy fun too. I mean, it's the most

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<v Speaker 3>densely populated country in the world, one hundred percent urban,

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<v Speaker 3>and yet it's also a really good place to visit.

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<v Speaker 3>Everything works, cooling is on all the time. We went

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<v Speaker 3>down and saw some cooling projects, including a district cauling

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<v Speaker 3>project which was very interesting. Workers in the basement that

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<v Speaker 3>had huge vats of ice cool using renewable electricity when

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<v Speaker 3>it's available. But yeah, do wonders of the world.

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<v Speaker 2>That's great. So a couple of months ago we introduced

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<v Speaker 2>a new format on Zero, which is our numbers based

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<v Speaker 2>climate guessing game. Because of its wild popularity last time,

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<v Speaker 2>today the game is getting a second outing, and so

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<v Speaker 2>just to quickly recap if this is your first time

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<v Speaker 2>or you've been wowed by Singapore and everything's left your mind.

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<v Speaker 2>There are a lot of climate numbers out there and

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<v Speaker 2>they don't make it onto a full episode of Zero,

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<v Speaker 2>but they do paint a good picture of where we're going,

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<v Speaker 2>and it is a shame to ignore them. So the

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<v Speaker 2>purpose of this game is to highlight our.

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<v Speaker 1>Favorites exactly and to recap. The rules as well. They're

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<v Speaker 1>very simple. Each one of us will present a number

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<v Speaker 1>and then the other two have to figure out what

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<v Speaker 1>that number represents. Each person can ask three questions, You

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<v Speaker 1>can ask for clues if you get stuck, and then

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<v Speaker 1>you have to guess.

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<v Speaker 2>Akshat Do you remember how to play?

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<v Speaker 1>Yeah? It's easy enough.

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<v Speaker 3>As always, I play games only if I have a

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<v Speaker 3>chance to win a prize, and I was a little

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<v Speaker 3>disappointed last time around because you guys gave me a

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<v Speaker 3>carbon credit. Not interested in one of those So what's

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<v Speaker 3>the prize this time?

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<v Speaker 1>Hey, what's wrong with the carbon credit?

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<v Speaker 3>Yeah, you should go back and listen to the episode

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<v Speaker 3>of Mark Trexler to understand why carbon credits don't work.

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<v Speaker 1>But yes, cool, So this time the prize is much

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<v Speaker 1>more special, much more real in many ways, and the

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<v Speaker 1>prize you'll be delighted to know, actually is a copy

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<v Speaker 1>of a new book being published on October the twelfth,

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<v Speaker 1>called Climate Capitalism. Actually, would you like to explain the

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<v Speaker 1>price of it?

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<v Speaker 3>Well, I would like to lose it, so one if

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<v Speaker 3>you get who wins it, then the pressure's on.

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<v Speaker 1>So I mean i'll give a brief into but actually

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<v Speaker 1>you should use this opportunity to promote your new book

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<v Speaker 1>as well. It's called Climate Capitalism. It's out October twelve.

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<v Speaker 1>I've read most of the first few chapters. I haven't

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<v Speaker 1>finished it yet, but it's great. It's brilliant. It's a

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<v Speaker 1>really really fun read, and I would recommend anyone who

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<v Speaker 1>is listening to go out and pre order the book. Actually,

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<v Speaker 1>do you want to give it a brief plug as well?

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<v Speaker 3>Yes, it's a book about climate solutions, So anybody listening

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<v Speaker 3>to Zero the podcast about climate solutions will not be

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<v Speaker 3>surprised by it, but I would hope the surprising stories

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<v Speaker 3>in it will interest you. Some of them, or at

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<v Speaker 3>least some of the people behind those stories have featured

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<v Speaker 3>on this podcast, But there is a lot more in there.

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<v Speaker 3>Writing a book is very different from any other kind

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<v Speaker 3>of journalism I've done so far, and it also gave

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<v Speaker 3>me an opportunity to sort of lay out a case

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<v Speaker 3>for where we are and correct some of the misperceptions

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<v Speaker 3>around whether we are doing enough on reducing emissions. So

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<v Speaker 3>I'm really excited for what people think about it. Really

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<v Speaker 3>nice reviews are coming through, so I feel less nervous

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<v Speaker 3>now because some people have read it and they've said,

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<v Speaker 3>it's all.

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<v Speaker 2>Right, great review for our prize.

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<v Speaker 1>It's all right, it's all right.

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<v Speaker 2>Okay. So to sum that up, akshot, you are ready

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<v Speaker 2>to compete for your own book?

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<v Speaker 1>Correct? Shall we play? Whose number is it? Anyway? Christine?

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<v Speaker 1>Would you like to go first this time?

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<v Speaker 2>Yes, I am ready. My number is fifty fifty.

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<v Speaker 3>That's a small number.

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<v Speaker 2>Is it a small number?

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<v Speaker 3>Well again, if you're doing it like last time, if

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<v Speaker 3>it's going to be a percentage, I guess we need

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<v Speaker 3>the unit.

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<v Speaker 2>You have a really good memory. It is a percentage,

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<v Speaker 2>and I'll throw it in a little extra hint. It's

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<v Speaker 2>a percentage reduction.

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<v Speaker 3>So it cannot be the twenty thirty target, because that

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<v Speaker 3>twenty thirty target is forty three percent reduction over twenty

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<v Speaker 3>nineteen levels.

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<v Speaker 2>Yeah, that's not it. Now, I haven't said what we're reducing,

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<v Speaker 2>but you are on the correct path.

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<v Speaker 1>Can I try and define the geographic area little bit?

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<v Speaker 1>Is it a reduction that's happened in the USA?

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<v Speaker 2>Yes, it is.

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<v Speaker 1>Does it have anything to do with electricity generation? No?

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<v Speaker 2>Not directly.

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<v Speaker 1>Actually, you look like you're bubbling with questions slash deep

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<v Speaker 1>in thought.

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<v Speaker 3>I'm actually confused because I don't know what it is.

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<v Speaker 3>If it's not electricity, The closest we come to it

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<v Speaker 3>is the US goal, which Joe Edden said for a

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<v Speaker 3>fifty percent reduction in emissions by.

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<v Speaker 1>I've got an idea. Is it something that is to

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<v Speaker 1>do with land use change? No? Okay, that's my idea.

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<v Speaker 2>Gone, Okay, I have another hint. I want you to

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<v Speaker 2>fill in the blank. If I say Microsoft, what's the

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<v Speaker 2>first word that comes to mind?

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<v Speaker 1>Windows XP dang.

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<v Speaker 2>I was going to say office because it's about working

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<v Speaker 2>in an office and the effect that that has on

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<v Speaker 2>your emissions.

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<v Speaker 1>Oh okay, I think I know roughly what this is.

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<v Speaker 1>It's how much your emissions reduced by or how much

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<v Speaker 1>emissions have been reduced by people working from home.

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<v Speaker 2>Yes, I think I'm going to I want to give

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<v Speaker 2>this point to Oscar.

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<v Speaker 1>I'm one step closer to finishing at chat sport.

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<v Speaker 2>So basically, there's a big headline recently about a study

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<v Speaker 2>of office workers and remote workers, and the ultimate finding

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<v Speaker 2>was if you work from home, the emissions savings could

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<v Speaker 2>be as much as fifty percent. And that's like the

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<v Speaker 2>big headline because everyone's like, who, let's keep working from home.

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<v Speaker 2>I looked at the study. There's a lot of really

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<v Speaker 2>great details in it. I encourage other people to look

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<v Speaker 2>at the study. But there are a lot of neat

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<v Speaker 2>things that are not in the headline, and I want

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<v Speaker 2>to talk about that. So this was a study of

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<v Speaker 2>Microsoft office workers in the US. I could not get

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<v Speaker 2>the researcher to tell me exactly how many people that was,

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<v Speaker 2>but it's at least twenty thousand. So Microsoft has one

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<v Speaker 2>hundred and twenty thousand people working in the US. Anyway,

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<v Speaker 2>This professor of energy systems engineering at Cornell doctor Fon

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<v Speaker 2>Sheiu and other colleagues did the study tracking Microsoft workers

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<v Speaker 2>in the US, and the thing that's not in the

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<v Speaker 2>headline that I think is so interesting is that you

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<v Speaker 2>have to be working from home more than one day

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<v Speaker 2>a week in order to get this benefit. If you

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<v Speaker 2>just work from home one day a week, it doesn't

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<v Speaker 2>really do very much.

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<v Speaker 1>Why is that It has to do with.

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<v Speaker 2>The amount of trips that a person who is working

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<v Speaker 2>from home does on their one day that they're working

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<v Speaker 2>from home, So it's like they're driving more essentially, And

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<v Speaker 2>that goes back to like the source of emissions if

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<v Speaker 2>you're working in the office is commuting and the energy

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<v Speaker 2>use of the building. And I work from home, so

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<v Speaker 2>sometimes I feel guilty about it, like, oh, I'm sitting

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<v Speaker 2>here with the electricity on and like the computer and

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<v Speaker 2>the router, and there's all these empty office buildings that

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<v Speaker 2>are just running really great air conditioning and I'm not there.

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<v Speaker 2>And it turns out that because I'm working from home

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<v Speaker 2>more than one day a week, I actually am kind

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<v Speaker 2>of in the clear. I'm doing something marginally good.

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<v Speaker 1>Do Microsoft employees are the one study? Are they largely

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<v Speaker 1>driving to work? Because I'd be interested know whether it's

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<v Speaker 1>the same effect in say London, where it's very easy

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<v Speaker 1>to cycle or take the bus or take the tube

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<v Speaker 1>or whatever kind of form of public transport you want

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<v Speaker 1>to get to work and you're not driving so much.

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<v Speaker 2>Yeah, it's a lot of driving. And in the study too,

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<v Speaker 2>they make the point that you could further reduce your

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<v Speaker 2>emissions as a worker if you drive an EV But

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<v Speaker 2>then also only really if you're in the Pacific Northwest,

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<v Speaker 2>where there's a lot more renewable energy. If you're in

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<v Speaker 2>the South or of the mid Atlantic there's so much

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<v Speaker 2>coal generation that it's negligible. There's not a lot of

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<v Speaker 2>great examples of Americans commuting by train or bike, so

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<v Speaker 2>it's really a car centric study.

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<v Speaker 3>So all the carbon intensive countries really should be working

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<v Speaker 3>from home. You know, if you're living in Saudi Arabia, don't.

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<v Speaker 1>Go to Wick.

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<v Speaker 2>Yeah. Basically, yeah, work from home two days a week

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<v Speaker 2>at least. And if you really want your employees to

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<v Speaker 2>come back to the office, make sure that you're building

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<v Speaker 2>is super energy efficient, and then you'll have a really

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<v Speaker 2>strong case that it's better on a lot of levels.

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<v Speaker 2>But everyone who's working from home should not feel guilty

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<v Speaker 2>about it. Great, Akshat, you talked about district cooling. I

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<v Speaker 2>do you want to learn more about that because the

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<v Speaker 2>cooling is such a big part of people's energy use,

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<v Speaker 2>whether you're in the offices or at home. I think

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<v Speaker 2>that you should go next.

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<v Speaker 3>Okay. My number is two hundred and one million.

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<v Speaker 2>Okay, I think this is the number of electric vehicles

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<v Speaker 2>that have been sold in a certain timescale.

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<v Speaker 3>All right, you guys know me it is electric vehicles.

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<v Speaker 3>But well, don Christine, timescale is forever.

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<v Speaker 1>It's time scills forever.

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<v Speaker 3>As in from the beginning of time till now.

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<v Speaker 1>Oh, okay. Is it something to do with the batteries

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<v Speaker 1>inside the electric vehicles?

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<v Speaker 3>I know it is about the vehicles themselves.

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<v Speaker 2>It's not the number of miles that have been traveled.

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<v Speaker 1>No, you've not done something annoying like times dip by

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<v Speaker 1>the number of tires that electric vehicles have.

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<v Speaker 2>No, the vehicles themselves. Two hundred and one million.

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<v Speaker 1>Is it global or is it one specific country? For example, China?

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<v Speaker 1>One country? Is it China? Yes? Good?

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<v Speaker 3>All right, time to guess I.

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<v Speaker 2>Think Oscars pursing his lips with a question.

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<v Speaker 1>Yeah, is it something to do with the number of

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<v Speaker 1>people who have ridden in an electric vehicle in China

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<v Speaker 1>in all time.

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<v Speaker 2>No, Okay, my final guess is I don't think this

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<v Speaker 2>is the right scale for China, but I will guess

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<v Speaker 2>it's the number of electric vehicles sold in China to date.

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<v Speaker 3>You're closed, but still wrong. It is the number of

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<v Speaker 3>two wheeler electric vehicles.

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<v Speaker 1>That I told it was something I'm annoying to do

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<v Speaker 1>with wheels, I said it, No.

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<v Speaker 3>It's not a number of wheels. It's still number of wheels.

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<v Speaker 3>So it's the number of electric two wheelers that are

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<v Speaker 3>in the fleet in China as of twenty to twenty two.

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<v Speaker 2>So it's four hundred and twenty million wheels.

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<v Speaker 1>Four hundred and two million wheels.

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<v Speaker 2>Sorry fortune, two million wheels.

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<v Speaker 1>Yeah, electric two wheelers include bicycles, motorbikes. It's still a

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<v Speaker 1>motorbike if.

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<v Speaker 3>It's I guess it is, yes, And most of it

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<v Speaker 3>is actually more peds rather than electric bikes. And it's

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<v Speaker 3>a number that was just super shocking to me. You know,

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<v Speaker 3>I went to China in twenty seventeen and twenty eighteen,

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<v Speaker 3>and I just saw electric two wheelers everywhere. But you know,

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<v Speaker 3>the scale of China is so huge that even when

0:11:39.960 --> 0:11:42.560
<v Speaker 3>you see them everywhere, You're still not like sure how

0:11:42.600 --> 0:11:45.520
<v Speaker 3>many they might be. And so when I first came

0:11:45.520 --> 0:11:49.040
<v Speaker 3>across the number, I was shocked, and it is shocking,

0:11:49.280 --> 0:11:52.720
<v Speaker 3>especially when you compare it to other countries. So the

0:11:52.760 --> 0:11:56.360
<v Speaker 3>next country in the rank that has electric two wheelers

0:11:56.760 --> 0:12:01.920
<v Speaker 3>is India, no surprises, but another guess how much lower

0:12:02.120 --> 0:12:05.360
<v Speaker 3>is that number? I'm going to say tenth, so twenty million?

0:12:06.120 --> 0:12:09.000
<v Speaker 2>Wait, but I want to know does India manufacture? Yes,

0:12:09.120 --> 0:12:11.800
<v Speaker 2>it does, is electric? Okay, I'm going to stick with

0:12:11.840 --> 0:12:14.880
<v Speaker 2>my theme of today and just do its fifty percent lower.

0:12:14.920 --> 0:12:18.040
<v Speaker 3>The number of electric two wheelers in India were one

0:12:18.120 --> 0:12:21.280
<v Speaker 3>point five million last year in twenty twenty two. The

0:12:21.440 --> 0:12:25.200
<v Speaker 3>entire fleet, it's one one hundred, one one hundred, So

0:12:25.320 --> 0:12:28.400
<v Speaker 3>China is like way ahead on this game.

0:12:29.080 --> 0:12:32.520
<v Speaker 1>Has that actually displaced the need for fossil fuel set?

0:12:32.600 --> 0:12:35.720
<v Speaker 3>So that's the other surprising thing because of the sheer

0:12:35.840 --> 0:12:39.160
<v Speaker 3>number of electric two wheelers. It's electric two wheelers and

0:12:39.200 --> 0:12:43.600
<v Speaker 3>three wheelers combined that displace four times as much oil

0:12:43.640 --> 0:12:48.800
<v Speaker 3>demand as all electric passenger cars sold globally. Wow, so

0:12:49.160 --> 0:12:53.440
<v Speaker 3>your two and three wheeler electric vehicles are displacing about

0:12:53.520 --> 0:12:57.720
<v Speaker 3>a million barrels of oil demand per day, whereas passenger

0:12:57.760 --> 0:13:01.480
<v Speaker 3>cars in total are just placing about quarter of a

0:13:01.520 --> 0:13:05.000
<v Speaker 3>million barrels of oil demand per day, and for contacts,

0:13:05.000 --> 0:13:08.400
<v Speaker 3>we consume about one hundred million barrels of oil every day.

0:13:09.040 --> 0:13:13.439
<v Speaker 1>Wow, So electric two and three wheelers have displaced one

0:13:13.480 --> 0:13:15.080
<v Speaker 1>percent of global oil demand.

0:13:15.400 --> 0:13:19.199
<v Speaker 2>Indeed, that's that's pretty good for two wheels. Yeah.

0:13:19.360 --> 0:13:22.880
<v Speaker 1>Is that just because they're mostly being used in highly dense,

0:13:22.960 --> 0:13:25.640
<v Speaker 1>highly urban settings and getting rid of that last short

0:13:25.679 --> 0:13:29.280
<v Speaker 1>distance travel that people would maybe use cars for.

0:13:29.520 --> 0:13:32.760
<v Speaker 3>Maybe, But it's also that countries like India and China

0:13:32.760 --> 0:13:35.920
<v Speaker 3>and Southeast Asia, two wheelers are the way to get

0:13:35.960 --> 0:13:39.080
<v Speaker 3>around because they're cheaper to buy. They are much more

0:13:39.080 --> 0:13:41.440
<v Speaker 3>efficient than a passenger car because you don't have to

0:13:41.480 --> 0:13:43.640
<v Speaker 3>carry all that weight along just to sit in it,

0:13:44.440 --> 0:13:46.920
<v Speaker 3>and so they make for the mode of transport of

0:13:47.120 --> 0:13:49.480
<v Speaker 3>choice because it's cheap and you can get around it

0:13:50.040 --> 0:13:52.319
<v Speaker 3>and you know, to be fair to India, yes, it's

0:13:52.320 --> 0:13:54.640
<v Speaker 3>one hundred right now, but the rate of growth in

0:13:54.640 --> 0:13:58.360
<v Speaker 3>India that bloomergeni f predicts is massive. So it's one

0:13:58.440 --> 0:14:01.280
<v Speaker 3>point five million last year, it'll be two point five

0:14:01.280 --> 0:14:04.520
<v Speaker 3>million this year, it'll be three point five million next year.

0:14:05.080 --> 0:14:08.359
<v Speaker 3>And that way it just goes up because the economic

0:14:08.400 --> 0:14:11.559
<v Speaker 3>case for electric two wheelers also has set in in India,

0:14:11.640 --> 0:14:13.960
<v Speaker 3>and on my trip this time around, I saw so

0:14:14.160 --> 0:14:14.800
<v Speaker 3>many of them.

0:14:15.160 --> 0:14:17.200
<v Speaker 1>The thing that I think would also be really interesting

0:14:17.240 --> 0:14:19.480
<v Speaker 1>with that is how much it changes air pollution. Yeah,

0:14:19.520 --> 0:14:21.560
<v Speaker 1>you do notice it when you're going around Delhi, the

0:14:21.640 --> 0:14:24.320
<v Speaker 1>fact there are so many polluting vehicles on the streets,

0:14:24.360 --> 0:14:26.600
<v Speaker 1>and if you can change them all for evs, which

0:14:26.640 --> 0:14:28.720
<v Speaker 1>have very little pollution, then that's going to have a

0:14:28.800 --> 0:14:29.560
<v Speaker 1>huge effectually.

0:14:29.680 --> 0:14:33.160
<v Speaker 3>Yeah, totally. It's not uncommon for petrol power two wheelers

0:14:33.200 --> 0:14:36.520
<v Speaker 3>to have this huge amount of smoke coming out. Yes,

0:14:36.560 --> 0:14:39.560
<v Speaker 3>they are more fuel efficient relative to a car, but

0:14:39.600 --> 0:14:42.360
<v Speaker 3>they do produce higher air pollution just because their engines

0:14:42.360 --> 0:14:45.000
<v Speaker 3>are small and they can't put in all the things

0:14:45.000 --> 0:14:47.080
<v Speaker 3>that a car can do to be able to put

0:14:47.080 --> 0:14:48.800
<v Speaker 3>out fewer particulate matter pollution.

0:14:49.320 --> 0:14:52.160
<v Speaker 1>That's another great number. Does anyone win a point? Oh?

0:14:52.360 --> 0:14:54.560
<v Speaker 3>I think Christine gets half a point because she's very

0:14:54.720 --> 0:14:55.120
<v Speaker 3>very good.

0:14:55.240 --> 0:14:57.320
<v Speaker 2>Half a point. I was so close.

0:14:57.640 --> 0:14:59.360
<v Speaker 1>Hey, I got that thing about the wheels though.

0:15:00.000 --> 0:15:02.080
<v Speaker 2>We're going to take a quick break while you ponder

0:15:02.400 --> 0:15:05.640
<v Speaker 2>the existence of two wheeled vehicles. And when we get

0:15:05.680 --> 0:15:25.800
<v Speaker 2>back more numbers. Okay, Oscar, it is your turn to

0:15:25.880 --> 0:15:26.840
<v Speaker 2>share a number.

0:15:27.800 --> 0:15:30.840
<v Speaker 1>My number is two thousand and twenty four.

0:15:34.200 --> 0:15:36.760
<v Speaker 3>Well that sounds like the year. But if it's not

0:15:36.920 --> 0:15:40.320
<v Speaker 3>the year, then I mean it'll be too obvious if it's.

0:15:40.200 --> 0:15:44.200
<v Speaker 2>The year, So just a year that would be so

0:15:44.840 --> 0:15:45.360
<v Speaker 2>I want.

0:15:45.160 --> 0:15:48.040
<v Speaker 1>To say, I think, am I getting number shaded? It's

0:15:48.120 --> 0:15:49.920
<v Speaker 1>very it's this is the thing we do when I share.

0:15:52.720 --> 0:15:55.360
<v Speaker 2>I don't know, choosing a year it feels it's a

0:15:55.360 --> 0:15:57.000
<v Speaker 2>little bit punk. I guess it's a little bit.

0:15:57.240 --> 0:15:59.120
<v Speaker 1>I'll take it. It is a year.

0:16:04.360 --> 0:16:07.840
<v Speaker 3>Well, a lot of things that happened next year. India

0:16:07.880 --> 0:16:09.200
<v Speaker 3>goes to election next year.

0:16:09.520 --> 0:16:10.080
<v Speaker 1>It's not that.

0:16:11.520 --> 0:16:18.320
<v Speaker 2>Is this a year that something is going to be achieved?

0:16:18.840 --> 0:16:19.120
<v Speaker 1>Yes?

0:16:19.560 --> 0:16:21.040
<v Speaker 2>Oh damn, I should ask that differently.

0:16:21.520 --> 0:16:24.920
<v Speaker 1>Oh well, yeah, something I think they will very likely

0:16:24.920 --> 0:16:25.480
<v Speaker 1>be achieved.

0:16:25.480 --> 0:16:27.200
<v Speaker 2>Can I rephrase that? I want to know if something

0:16:27.240 --> 0:16:29.320
<v Speaker 2>is starting to be built in twenty twenty four.

0:16:30.200 --> 0:16:32.320
<v Speaker 1>No, nothing is starting to be built.

0:16:33.400 --> 0:16:38.160
<v Speaker 3>Is it to do with protection of a certain thing

0:16:38.560 --> 0:16:41.240
<v Speaker 3>like a forest or an ocean or a you know,

0:16:41.320 --> 0:16:43.440
<v Speaker 3>like a terrestrial thing or animals?

0:16:43.560 --> 0:16:44.400
<v Speaker 1>Or it is not?

0:16:45.760 --> 0:16:47.680
<v Speaker 2>Is it? The bike lanes from your last episode are

0:16:47.680 --> 0:16:48.560
<v Speaker 2>finally being built.

0:16:49.920 --> 0:16:53.560
<v Speaker 1>No, it has nothing to do with bicycles, which is

0:16:53.600 --> 0:16:54.720
<v Speaker 1>one of my big clues.

0:16:55.000 --> 0:16:58.960
<v Speaker 3>Yeah, okay, geographical proximity.

0:16:59.200 --> 0:17:02.400
<v Speaker 1>Give us a hint. It is global. Oh my god, is.

0:17:02.320 --> 0:17:04.800
<v Speaker 3>There a climate gold that may be achieved next year?

0:17:06.600 --> 0:17:07.560
<v Speaker 3>A global one.

0:17:08.200 --> 0:17:09.160
<v Speaker 2>I'm really stumped.

0:17:09.680 --> 0:17:11.879
<v Speaker 1>I'm going to give you another hint that it's to

0:17:11.920 --> 0:17:16.199
<v Speaker 1>do with our favorite energy association.

0:17:16.040 --> 0:17:19.040
<v Speaker 2>IA predict something will happen in twenty twenty four.

0:17:19.440 --> 0:17:20.760
<v Speaker 1>Very good. Now what's the thing?

0:17:21.359 --> 0:17:21.719
<v Speaker 2>Oh?

0:17:21.920 --> 0:17:23.840
<v Speaker 3>I got it, but I think I'm wrong, But maybe

0:17:23.880 --> 0:17:28.600
<v Speaker 3>I'm correct, which is all fossil fuel demand, oil gas,

0:17:28.640 --> 0:17:30.880
<v Speaker 3>and coal will peak in twenty twenty four.

0:17:31.240 --> 0:17:34.600
<v Speaker 1>You're along the right lines, but think less fossil fuel,

0:17:34.760 --> 0:17:36.959
<v Speaker 1>more renewable final gases.

0:17:36.960 --> 0:17:38.840
<v Speaker 2>Please, yeah, seriously, just bear in.

0:17:38.840 --> 0:17:41.119
<v Speaker 1>Mind, Christine. If you get this, then you get the book.

0:17:41.280 --> 0:17:44.280
<v Speaker 2>I know I'm going to guess that this has something

0:17:44.280 --> 0:17:48.040
<v Speaker 2>to do with the like, let's just say renewables will

0:17:48.440 --> 0:17:54.080
<v Speaker 2>have become present in every country on Earth's electricity generation

0:17:54.520 --> 0:17:56.040
<v Speaker 2>of at least two percent.

0:17:56.600 --> 0:18:00.480
<v Speaker 1>Nice guess, but no, okay, is it a good No

0:18:00.520 --> 0:18:02.480
<v Speaker 1>more hints, no more, henty. It will be a record,

0:18:02.520 --> 0:18:04.680
<v Speaker 1>but it's not being framed in terms of records.

0:18:04.680 --> 0:18:06.680
<v Speaker 3>Okay, I'm going with the wild guest because I don't

0:18:06.680 --> 0:18:13.159
<v Speaker 3>know the answer, which is that renewable electricity, specifically solar,

0:18:13.800 --> 0:18:17.359
<v Speaker 3>will be the cheapest form of electricity everywhere in the world.

0:18:18.119 --> 0:18:19.960
<v Speaker 1>That might also be true. I'm not going to deny it,

0:18:19.960 --> 0:18:22.439
<v Speaker 1>but it's not the figure I'm talking about. So twenty

0:18:22.480 --> 0:18:25.840
<v Speaker 1>twenty four is the year that the International Energy Agency

0:18:25.880 --> 0:18:29.639
<v Speaker 1>predicts that renewables could overtake coal as the world's largest

0:18:29.640 --> 0:18:30.600
<v Speaker 1>source of electricity.

0:18:30.920 --> 0:18:35.439
<v Speaker 2>Whoa is shaking his fist.

0:18:35.920 --> 0:18:38.800
<v Speaker 3>I think I knew that, it just didn't hit me.

0:18:39.240 --> 0:18:40.159
<v Speaker 2>Hey that's cool.

0:18:40.880 --> 0:18:43.000
<v Speaker 1>Yeah, that's cool. And as a follow up from that,

0:18:43.040 --> 0:18:45.080
<v Speaker 1>so the figure I just gave is for all renewables,

0:18:45.119 --> 0:18:48.399
<v Speaker 1>which includes hydro which is the currently the largest solar

0:18:48.600 --> 0:18:52.520
<v Speaker 1>wind both on you or not sure, but by twenty

0:18:52.680 --> 0:18:56.440
<v Speaker 1>twenty seven, they think solar alone will be bigger than coal.

0:18:56.880 --> 0:18:57.280
<v Speaker 2>Wow.

0:18:57.400 --> 0:19:00.199
<v Speaker 1>And why I really liked this figure is that it

0:19:00.240 --> 0:19:02.360
<v Speaker 1>builds upon their own predictions and so all the way

0:19:02.400 --> 0:19:05.040
<v Speaker 1>back in December of twenty twenty two, about nine ten

0:19:05.080 --> 0:19:08.720
<v Speaker 1>months ago, the IA released its Renewabals twenty twenty two report,

0:19:08.760 --> 0:19:12.960
<v Speaker 1>which estimated that globally, renewables might overtake coal maybe in

0:19:13.000 --> 0:19:15.800
<v Speaker 1>early twenty twenty five, but the latest report, which came

0:19:15.800 --> 0:19:17.760
<v Speaker 1>out in July, says that it could be as early

0:19:17.800 --> 0:19:20.000
<v Speaker 1>as twenty twenty four. It's caveatd with as long as

0:19:20.040 --> 0:19:24.359
<v Speaker 1>weather conditions are favorable, that renewables as a whole should

0:19:24.359 --> 0:19:24.960
<v Speaker 1>overtake coal.

0:19:25.320 --> 0:19:27.639
<v Speaker 3>And that answers one question, which is this is about

0:19:27.800 --> 0:19:31.520
<v Speaker 3>generation of renewable electricity and not just the capacity. I

0:19:31.520 --> 0:19:34.560
<v Speaker 3>should also correct myself, which is yes, the IEA did

0:19:34.560 --> 0:19:38.119
<v Speaker 3>say something about peaking of oil, coal and gas demand,

0:19:39.080 --> 0:19:43.520
<v Speaker 3>but it said all of those will peak before twenty thirty.

0:19:44.119 --> 0:19:46.520
<v Speaker 1>I mean that's also huge. What's crazy is when you

0:19:46.520 --> 0:19:49.720
<v Speaker 1>look at these figures. So in twenty fourteen, all renewable

0:19:49.840 --> 0:19:52.920
<v Speaker 1>energy put together made about five thousand terrible hours in

0:19:52.960 --> 0:19:55.639
<v Speaker 1>a year, and at that point so twenty fourteen, coal

0:19:55.760 --> 0:19:59.120
<v Speaker 1>was about ten thousand terrible hours globally, and coal has

0:19:59.160 --> 0:20:02.280
<v Speaker 1>remained relatively insistent. It's kind of fluctuated a little bit,

0:20:02.600 --> 0:20:05.480
<v Speaker 1>but renewables in that ten yure period have doubled from

0:20:05.520 --> 0:20:09.240
<v Speaker 1>five thousand terrible hours to almost ten thousand terrible hours.

0:20:09.400 --> 0:20:11.560
<v Speaker 1>And yeah, I mean it's exciting because, as I said,

0:20:11.600 --> 0:20:14.679
<v Speaker 1>it builds upon the IA. It's own forecasts, and basically

0:20:14.720 --> 0:20:18.320
<v Speaker 1>they've just taken in all the new data from governments

0:20:18.480 --> 0:20:21.119
<v Speaker 1>like China, the EU, the US, India who are just

0:20:21.320 --> 0:20:24.800
<v Speaker 1>pumping more and more money and changing their policies to

0:20:25.119 --> 0:20:28.080
<v Speaker 1>basically make it easier to introduce renewables and make it

0:20:28.160 --> 0:20:30.680
<v Speaker 1>less favorable for new fossil fuels to come into place.

0:20:30.800 --> 0:20:33.639
<v Speaker 3>Yeah, and it does feel surprising, even though we just

0:20:33.720 --> 0:20:36.359
<v Speaker 3>had Jenny Chase explained to us the solar revolution that

0:20:36.480 --> 0:20:39.240
<v Speaker 3>is just mind boggling. But it's it is that mind

0:20:39.280 --> 0:20:42.040
<v Speaker 3>boggling that even after you slice andize these numbers different

0:20:42.119 --> 0:20:43.080
<v Speaker 3>radio like Wow.

0:20:43.359 --> 0:20:45.040
<v Speaker 1>The other last thing I'd like to mention by the

0:20:45.080 --> 0:20:47.320
<v Speaker 1>IA report is that they've now made this claim that

0:20:47.359 --> 0:20:51.200
<v Speaker 1>fossil fuels are seeing structural decline. Normally, in the past

0:20:51.240 --> 0:20:53.120
<v Speaker 1>when fossil fuels have declined, it's been in the wake

0:20:53.200 --> 0:20:57.280
<v Speaker 1>of big recessions, financial crashes, the OPEC oil crisis in

0:20:57.280 --> 0:21:01.399
<v Speaker 1>the nineteen seventies. They're saying now because of how quickly

0:21:01.400 --> 0:21:05.240
<v Speaker 1>renewables are rising, in particular Solo, that fossil fuels are

0:21:05.240 --> 0:21:09.080
<v Speaker 1>starting to go into a terminal structural decline. That even

0:21:09.160 --> 0:21:11.919
<v Speaker 1>though electricity demand is still growing, all that new capacity

0:21:11.960 --> 0:21:15.160
<v Speaker 1>that's needed is being taken up by renewables, and renewables

0:21:15.160 --> 0:21:18.400
<v Speaker 1>are now making a real dent into fossil fuel infrastructure

0:21:18.400 --> 0:21:20.680
<v Speaker 1>as well. I don't know who got that, did either

0:21:20.680 --> 0:21:21.720
<v Speaker 1>of you get that? I'm going to give it to

0:21:21.760 --> 0:21:24.399
<v Speaker 1>Christine so she gets the copy of Actual's.

0:21:23.880 --> 0:21:26.240
<v Speaker 2>Book sign version in the mail.

0:21:26.480 --> 0:21:27.320
<v Speaker 3>There will be one.

0:21:27.720 --> 0:21:29.679
<v Speaker 1>I think that wraps up our time. Thank you guys

0:21:29.720 --> 0:21:32.480
<v Speaker 1>for playing Whose number is it? Anyway? This was fun.

0:21:32.440 --> 0:21:43.320
<v Speaker 2>Great, Thanks so much for listening to Zero. Let us

0:21:43.359 --> 0:21:45.520
<v Speaker 2>know what you thought of this format at zero pod

0:21:45.600 --> 0:21:47.159
<v Speaker 2>at Bloomberg dot net.

0:21:47.600 --> 0:21:49.879
<v Speaker 1>If you enjoyed it, please give us a rating or

0:21:50.000 --> 0:21:53.160
<v Speaker 1>review on Apple Podcasts or Spotify. Please do say nice

0:21:53.160 --> 0:21:53.680
<v Speaker 1>things only.

0:21:54.920 --> 0:21:57.840
<v Speaker 2>Zero's producer is Oscar Boyd and senior producer is me

0:21:58.000 --> 0:21:58.800
<v Speaker 2>Christine driscoll.

0:21:59.200 --> 0:22:02.280
<v Speaker 1>Our theme music is by Wonderly Special thanks as always

0:22:02.320 --> 0:22:08.119
<v Speaker 1>to Kira Bndrum and we'll be back later this week