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Speaker 1: Good morning and welcome to the Daily Os. You've made

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Speaker 1: it to Friday, another week done, and the news is

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Speaker 1: not stopping. But Sam, before you speak to Maddie and

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Speaker 1: Sophie from your own good company about all things green energy,

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Speaker 1: let's run through what is making news today.

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Speaker 2: First up, a former soldier who gave evidence in defense

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Speaker 2: of Ben Roberts Smith has been arrested shortly after appearing

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Speaker 2: in court Zara. This is a pretty wild story. The

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Speaker 2: soldier was charged with obstructing, hindering and intimidating a government

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Speaker 2: official and harming a law officer. He did successfully apply

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Speaker 2: for bail.

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Speaker 1: With election season underway, we have gotten an indication from

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Speaker 1: the Greens, so the biggest minor party in the country,

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Speaker 1: about what their climate policy looks like. The party's plan

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Speaker 1: includes a levy on coal mining and that's to fund

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Speaker 1: the transition away from coal. It also includes a job

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Speaker 1: for job guarantee for coal workers impacted by the closure

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Speaker 1: of coal plants.

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Speaker 2: This is an interesting one from their High Court has

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Speaker 2: ruled that children born in the country will be given

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Speaker 2: both their mother and father's surnames at birth. The court

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Speaker 2: found both parents should be able to choose the surname

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Speaker 2: as it is quote a fundamental element for one's personal identity.

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Speaker 1: And finally, some good news. Tokyo, a major railroad operator

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Speaker 1: in Japan, has become the first operator in the country

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Speaker 1: to switch to solely renewable energy sources. The company's seven

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Speaker 1: train lines and one tram service emits zero carbon dioxide emissions.

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Speaker 2: We are joined this morning by Maddie and Sophie from

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Speaker 2: You're in Good Company, one of the best finance podcasts

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Speaker 2: out there in the entire universe, including the metaverse. I

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Speaker 2: don't know if you guys are actually in the metaverse. Guys,

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Speaker 2: I've said to you before you've come on this morning.

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Speaker 2: We're not going to mention Elon Musk, so a disclaimer

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Speaker 2: to all listeners. We're not talking about Elon Musk because

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Speaker 2: I think Elon Musk has had enough coverage in the

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Speaker 2: media in the last twelve months to last a lifetime. Maddie,

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Speaker 2: maybe we'll start with you. What non Elon Musk story

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Speaker 2: can you tell us about this morning?

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Speaker 3: Thanks Sam. In an effort to win over millennial and

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Speaker 3: younger customers, Commonwealth Bank of Australia is giving cheaper mortgages

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Speaker 3: for customers who build greener homes now there is quite

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Speaker 3: a meticulous criteria to meet with the offer available for

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Speaker 3: customers who build top rated energy efficient homes with solar

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Speaker 3: panels and no gas Borrowers must be owner occupiers and

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Speaker 3: have a minimum twenty percent deposit, as well as have

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Speaker 3: either a certified Green Star home or a nationwide house

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Speaker 3: energy rating scheme of seven stars or greater. I'm not

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Speaker 3: going to lie. It sounds pretty expensive to me in

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Speaker 3: a market that is hard enough to get into as

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Speaker 3: it is. But I have to say what is great

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Speaker 3: is that the sub two percent rate on offer will

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Speaker 3: remain for the life of the loan, which looks like

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Speaker 3: a pretty great deal in the context of rising interest rates.

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Speaker 2: At the moment when this kind of thing is announced

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Speaker 2: to the market, obviously you've just gone through the criteria there,

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Speaker 2: and it's quite extensive. You know, I'm not sure how

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Speaker 2: many young people could enter that market, but a twenty

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Speaker 2: percent deposit let alone all of those kind of quite

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Speaker 2: expensive environmental inclusions. Does the market respond well to this

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Speaker 2: kind of announcement or is it really kind of a

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Speaker 2: bit of a pr push.

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Speaker 3: Yeah, Well, there has been a lot of pressure mounting

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Speaker 3: on the big banks recently to fully disclose the emissions

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Speaker 3: created by the projects that they finance as a way

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Speaker 3: of giving a bit more credibility to their net zero ambitions. AFRO,

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Speaker 3: the banking regulator in Australia is actually undertaking a climate

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Speaker 3: vulnerability assessment which so far has highlighted concerns around the

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Speaker 3: extent of Australian banks lending to carbon emitting parts of

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Speaker 3: the economy. So the question here really is like, what

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Speaker 3: is the main purpose behind CBA wanting to do this.

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Speaker 3: The banks have defended themselves saying that oil and gas

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Speaker 3: financing makes up just one to two percent of their

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Speaker 3: total lending portfolios. But I think the key takeaway here

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Speaker 3: really is around companies just needing to be more transparent.

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Speaker 3: So with record amounts of money flowing into sustainable investing

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Speaker 3: at the moment, the pressure on banks really is just

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Speaker 3: part of the push to make it easier for investors

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Speaker 3: to measure their exposure to climate change and its associated risks.

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Speaker 2: I think that's a really interesting point. It's really about

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Speaker 2: the ability for investors to be able to look at

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Speaker 2: their portfolio and say, this is how exposed I am

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Speaker 2: to things that aren't good for the planet, and this

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Speaker 2: is how the companies that say that they're investing in

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Speaker 2: green projects actually are doing so. So it's an interesting model.

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Speaker 2: Do you expect the other banks to kind of match

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Speaker 2: it or follow it?

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Speaker 3: Yeah, so Commonwealth Bank is the first of the big

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Speaker 3: four banks to come out and do this, and I

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Speaker 3: think it is probably expected that the other banks will follow.

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Speaker 3: I will note that a lot of smaller banks have

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Speaker 3: been going down this path so far, so CommBank really

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Speaker 3: is just sort of following the trend of some of

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Speaker 3: the smaller banks in this one.

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Speaker 2: Could turn out that having a green home is actually

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Speaker 2: more affordable than not very soon, Sophie, now to you,

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Speaker 2: what's been happening in the beverages world.

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Speaker 4: Well, yes, this week Coca Cola has actually caught our

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Speaker 4: attention because they've actually posted their highest quarterly profits since

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Speaker 4: twenty sixteen, which is interesting for a couple of reasons.

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Speaker 4: So the first is that inflation is running rampant, and

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Speaker 4: I know that you guys did an episode on this yesterday.

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Speaker 4: But this consequently impacts companies that sells products as it

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Speaker 4: ultimately increases the cost it takes for that company to

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Speaker 4: make the product or service, and in the case of

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Speaker 4: Coca Cola, sugar and aluminium have both been on the rise.

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Speaker 4: And then the second reason is that the company has

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Speaker 4: shut all its operations down in Russia, which is one

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Speaker 4: of its fastest growing markets. So the combination of both

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Speaker 4: inflation and shutting down in a quickly growing market would

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Speaker 4: usually suggest that a company's profits would go backwards, but

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Speaker 4: it's not the case at the moment.

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Speaker 2: Telling me that they've shut down in one of their

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Speaker 2: biggest markets, and the cost of the cans and the sugar,

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Speaker 2: and there is a heck of a lot of sugar

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Speaker 2: in a can of coke. Both of those have gone

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Speaker 2: up in price. How on earth are they delivering such

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Speaker 2: strong profits?

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Speaker 4: I know what's interesting, This is why it's caught our attention.

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Speaker 4: But I guess the rise in price of its strengths

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Speaker 4: hasn't put off loyal customers just yet. It's also released

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Speaker 4: a smaller bottle for a more affordable price, and because

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Speaker 4: of this, it's sold eight percent more product than the

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Speaker 4: same time last year, and it has found a new

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Speaker 4: untapped market labeled the dead Eyed Avatars, which I guess,

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Speaker 4: in layman's terms means the metaverse. So the company has

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Speaker 4: announced that earlier this month it'll be launching a new

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Speaker 4: drink in the video game Fortnite, which is meant to

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Speaker 4: be Pixel flavored. So they'll also be bringing this to

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Speaker 4: retail stores. So I'm excited to understand what pixel tastes like.

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Speaker 2: I didn't think you'd get thirsty in an environment where

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Speaker 2: you don't actually have organs, But if anyone can find

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Speaker 2: a way to make you thirsty in a virtual world,

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Speaker 2: it's probably Coca Cola. There's actually a really interesting discussion

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Speaker 2: to be had here about you know, video games have

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Speaker 2: done this for a while where they've kind of required

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Speaker 2: characters in games to be eating or drinking something that

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Speaker 2: is actually a paid spot. It's kind of like James

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Speaker 2: Bond wearing a Rolex in a James Bond film. This

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Speaker 2: native advertising is definitely coming to the metaverse. Super interesting, guys,

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Speaker 2: Do you have any stories that you're looking at in

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Speaker 2: the week ahead? And if you say, elon Muscow'll end

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Speaker 2: the call right now.

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Speaker 3: I am going back to Russia, where they are escalating

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Speaker 3: tensions once again with Europe. On Wednesday night, they announced

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Speaker 3: that they were cutting off gas to Poland and Bulgaria,

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Speaker 3: and gas prices in Europe have skyrocketed as a result.

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Speaker 3: So I'll be watching that one very closely.

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Speaker 4: And I am watching the fact that Facebook or Meta

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Speaker 4: has come out saying that it's going to bring out

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Speaker 4: Metaverse retail stores. Sorry for mentioning the metaverse again, but

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Speaker 4: it's just so confusing because the metaverse is meant to

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Speaker 4: not be like physical and now they're bringing out stores.

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Speaker 4: So I just want to understand where Mark Zuckerberg's coming from,

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Speaker 4: and it's one I'll be watching.

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Speaker 2: I don't think anyone can understand where Mark Zuckerberg is

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Speaker 2: coming from. So you and I can go for a

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Speaker 2: walk around the Metaverse retail store with our pixel flavored

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Speaker 2: can of cocon cola, and if we bump into Elon

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Speaker 2: Musk will tell him that he's being a bit weird

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Speaker 2: this week. Guys, have a wonderful weekend to all our

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Speaker 2: listeners have a fantastic weekend. If you enjoyed this podcast,

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Speaker 2: check out, You're in good company where you're listening to

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Speaker 2: this podcast. It's an absolute cracker. Listen and we all

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Speaker 2: speak to you on Monday. Happy Friday.