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- [00:01]
Narrator
From Tokyo, Japan and Auckland, New Zealand, this is down to Business English with your hosts, Git Montreux and Samantha Vega.
- [00:15]
Git Montreux
Happy New Year, Samantha. Good to be back with you.
- [00:17]
Samantha Vega
Thank you. Good to be back here too, in 2017. The year of the rooster.
- [00:22]
Git Montreux
Yes, the year of the rooster. I made my Japanese New Year's card the other day. It had a little beautiful chicken on it. So did you have a nice holiday?
- [00:31]
Samantha Vega
Yeah, had a great holiday and looking forward to new things for 2017. I know a lot of people had a bad 2016. I didn't have a bad 2016, but, you know, with a lot of celebrity deaths and some strange things in politics, specifically in US Politics, it was kind of an up and down year. So I'm looking forward to all great new things to come in 2017.
- [00:53]
Git Montreux
Yeah, me too. Personally, 2016 was a pretty, pretty good year. But, yeah, around the world it did seem like a lot of strange events were taking place. But I am looking forward to a very positive 2017. So, speaking of positive changes, Samantha, let me ask you a question.
- [01:12]
Samantha Vega
Okay, shoot.
- [01:13]
Git Montreux
Where do you stand on climate change?
- [01:16]
Samantha Vega
What do you mean? Obviously, it's not a good thing.
- [01:19]
Git Montreux
Ah, so you do believe in it?
- [01:21]
Samantha Vega
Of course I believe in it. Gosh, you're not one of those climate change deniers, are you?
- [01:27]
Git Montreux
No, I'm not a denier, but I may be somewhat neutral on the topic.
- [01:32]
Samantha Vega
That's just ridiculous. Have you not seen what's been happening to China, for example, so far this year?
- [01:38]
Git Montreux
Oh, you're talking about the pollution red alerts that were issued in Beijing and across other major cities in the country?
- [01:45]
Samantha Vega
Yes, it's horrific.
- [01:47]
Git Montreux
No disagreement on that. But air pollution and climate change are two very different things.
- [01:53]
Samantha Vega
They're different, but they're related. How can you be neutral on climate change? It's the most important issue facing the world.
- [02:00]
Git Montreux
Well, okay, I'm not as neutral as I claim, but at the same time, I can sympathize with those people who are suspicious of it. You know, some people do think that climate change is being overblown in order for governments to implement more and more regulations and taxes.
- [02:20]
Samantha Vega
Like Donald Trump.
- [02:21]
Git Montreux
Well, let's not go down that rabbit hole. But yes, you are right. Trump is on record as saying that climate change is a hoax perpetuated by China in order to make the United States less competitive around the world.
- [02:36]
Samantha Vega
Yeah, and don't forget, one of his campaign promises was to pull the US out of the Paris climate agreement within the first 100 days of his presidency.
- [02:45]
Git Montreux
But since being elected he has pulled back from that somewhat, that promise and many others.
- [02:53]
Samantha Vega
Regardless, it's still quite concerning as to what the US Will do now that he's President.
- [02:57]
Git Montreux
I'm not too worried about it.
- [02:59]
Samantha Vega
But you are a borderline climate change denier.
- [03:02]
Git Montreux
Only for the sake of argument. The fact is that Donald Trump, and for that matter, the United States, is not the be all and end all of the fight against climate change. Yes, government action is important, but when it really comes down to it, it is going to be the private sector. In essence, business and capital investment that lead the way to a cleaner future.
- [03:27]
Samantha Vega
Is this our topic today?
- [03:28]
Git Montreux
Yes. I thought we could take a look at the relationships between big business and governments in the fight against global climate change.
- [03:38]
Samantha Vega
Let's do it then. Let's get D2B down to business. With the climate change crisis, big business to the rescue. So where should we start?
- [03:56]
Git Montreux
Probably the best jumping off point would be the Paris agreement. Can you give us a brief synopsis on what that is all about?
- [04:04]
Samantha Vega
Sure. It's an agreement between 197 countries to make a contribution towards the reduction of CO2 emissions by 2030. The agreement was reached in late 2015 and went into force in November 2016 after 55% of the countries had ratified it in their home countries.
- [04:22]
Git Montreux
Maybe we should explain what ratification means.
- [04:25]
Samantha Vega
After representatives reached an agreement in Paris in 2015, they had to go back to their countries and get approval from their national governments. That process is known as ratification. As of right now, 122of the 197 countries have pledged to take part. Most importantly, the big four greenhouse gas emitters, us, China, India, and the EU have all ratified it.
- [04:50]
Git Montreux
I've read through all of the literature and, you know, everything looks good on paper and we could go through a bunch of numbers and figures, but it all comes down to developed countries, along with China and India, have promised to reduce their CO2 emissions and increase their use of alternative energy sources by 2030. Now, the interesting thing is that nobody is bound to do anything specific. Each country has agreed to do their best and report back to each other every five years as to what they have accomplished.
- [05:27]
Samantha Vega
But the big question is, will these promises be put into action?
- [05:32]
Git Montreux
It's kind of like a big game of chess chicken. Who will go first? Take for example, what is happening in Canada right now. Have you been following that?
- [05:41]
Samantha Vega
No, not really.
- [05:43]
Git Montreux
Well, the Trudeau government just recently in late last year has told all of the provinces to come up with a carbon reduction plan within the next two years or else the national government will impose something on them. Most of the provinces are going along with it and are introducing or have introduced either a carbon tax or some kind of cap and trade system.
- [06:10]
Samantha Vega
Carbon tax or cap and trade system? What's the difference between those two?
- [06:15]
Git Montreux
Basically, a carbon tax is a tax on gasoline and is paid directly by the consumer. So provinces that have introduced a carbon tax, people will see their gasoline prices go up quickly. On the other hand, the cap and trade is a system where businesses have to buy permits from the government to pay for the amount of carbon that they produce in making their products or selling their services. But the bottom line is higher prices will be passed on to consumers and the Canadian cost of living will rise. Now think about this. If Trump south of the border in the United States doesn't move forward with carbon reduction in the U.S. canadian businesses will be at a great disadvantage. Obviously, a lot of people, a lot of businesses in Canada are quite upset since Canada is pretty much carbon neutral in the first place.
- [07:13]
Samantha Vega
So what does that mean, carbon neutral?
- [07:15]
Git Montreux
Basically, it means that the amount of carbon produced by the country through man made activity is equal to or less than what the country's natural resources absorb. Remember, Canada has a lot of trees and only 32 million people.
- [07:31]
Samantha Vega
So Canada is only responsible for less than 1% of global CO2 emissions. So whatever they do won't go very far in the fight against climate change. The issue is the world's reliance on fossil fuels for energy production.
- [07:45]
Git Montreux
That's right. The entire world can switch to electric cars tomorrow. And if those cars are running on electricity generated from fossil fuels, there will be absolutely no change in CO2 emissions.
- [07:58]
Samantha Vega
So the key is to create new clean technologies that can create energy without dumping CO2 into the atmosphere.
- [08:05]
Git Montreux
New clean technologies and infrastructure. And those technologies need to create energy that is as reliable and as inexpensive as fossil fuels.
- [08:17]
Samantha Vega
It's hard to develop those technologies with cheap oil, shale oil and natural gas in abundance. Why should developing or poorer economies opt for clean fuel if it is more expensive? The only way for alternative energy to prevail is for governments to tax fossil fuels or offer subsidies and incentives to help alternative energy be more feasible.
- [08:38]
Git Montreux
The only real way to get off of fossil fuels is to make alternative energy profitable.
- [08:43]
Samantha Vega
If companies can make money off of them without the protection of a government regulation like a carbon tax or cap and trade system, clean energy will become a realistic option.
- [08:53]
Git Montreux
And that is where big business comes in. Traditionally, venture capitalists invest a lot of money in many different startups with the hope that one of those startups will pay off in the future.
- [09:08]
Samantha Vega
Like how the Internet developed.
- [09:10]
Git Montreux
Precisely. But changing from fossil fuels to alternative energy is a little too hard. Because of the existence of the current fossil fuel infrastructure. The risk reward cycle is just too long and most clean energy startups can't make it through what is known as as the Valley of Death.
- [09:29]
Samantha Vega
The Valley of Death, meaning the time between receiving an initial investment to bringing their product to market.
- [09:36]
Git Montreux
That's right. Fortunately, two years ago, Bill Gates stepped up to the plate and created the Breakthrough Energy Coalition and Venture Fund. This coalition recognizes that the development of clean energy is on a much longer time scale and they are committed to long term investments.
- [09:54]
Samantha Vega
Yeah, I read through the list of members in addition to Bill Gates, Jeff Bezos from Amazon, Jack Ma from Alibaba, George Soros, Mark Zuckerberg, Masayoshi Son from Softbank in Japan, and Richard Branson. That's quite an impressive list. Are they in it for the long term?
- [10:11]
Git Montreux
Yes. They are committed to investing in a wide range of companies over a time scale of 20 years or longer. Their vision is with the proper investment, scientists and engineers can come up with the innovations that will make alternative energy sources a viable option to dirty fossil fuel.
- [10:31]
Samantha Vega
Which would go hand in hand with what other Fortune 500 businesses are doing. Apple, Goldman Sachs, Walmart, Nike, Johnson and Johnson. They've all pledged that by 2020 their electricity will be from renewable energy sources, not fossil fuels.
- [10:46]
Git Montreux
A direct response to consumer demand for green responsibility from companies. So you see, Samantha, it doesn't really matter what Donald Trump and his merry band of climate deniers. I really feel that the future is bright if it's left in the hands of business.
- [11:05]
Samantha Vega
Well, it's good to see you with a glass half full point of view as opposed to your usual conspiracy skepticism.
- [11:12]
Git Montreux
That's very cute. Well, Samantha, I think it is time for you and I to get D2V down to vocabulary.
- [11:32]
Narrator
Down to business. English audio scripts are a great learning tool. Be sure to visit the D2B website and download your free audio script of today's podcast. Downtobusinessenglish.com that's www.downtobusinessenglish.com.
- [11:55]
Samantha Vega
Let me start things off with the adjective overblown. When someone comments that they think a situation or an issue is overblown, they are communicating that they feel that the topic is being made to sound more important or impressive than it actually is.
- [12:10]
Git Montreux
In our conversation, I commented to Samantha that some people feel that the issue of climate change has been completely overblown. In other words, those people believe that the topic of climate change is not as important as people make it sound.
- [12:27]
Samantha Vega
Overblown is also very communicative when it is used as a verb. Imagine that you are in a team meeting discussing a serious issue that has come up. One of your team members is panicking, listing all the terrible things that will happen if this issue can't be solved.
- [12:42]
Git Montreux
This sounds very familiar. Have you been a fly on the wall in some of the meetings I attend, Samantha?
- [12:48]
Samantha Vega
No, but I have attended my share of crisis meetings in my career. Anyway, as this co worker is freaking out, you can calmly say Jack, calm down. I understand your concerns but it doesn't help overblowing the situation. Let's just focus and find the best solution to this problem.
- [13:05]
Git Montreux
You sound like you'd be one level headed manager.
- [13:09]
Samantha Vega
Thanks Skip. I like to think I have a cool head under pressure. What is our next word?
- [13:14]
Git Montreux
Now let's talk about another adjective to be borderline. When you describe someone as borderline, you were saying that they hold an opinion that is almost but not quite in support of something. In the story, Samantha accused me of being a borderline climate change denier.
- [13:35]
Samantha Vega
In other words, I thought Skip's beliefs or attitude towards climate change were almost but not quite the same as the group of people who don't accept our planet's climate is changing at all. Skip, can you give us an example of borderline in a business situation?
- [13:50]
Git Montreux
Sure. Do you remember what happened to Samsung and their Galaxy 7 last summer?
- [13:56]
Samantha Vega
Oh sure, they had to recall the entire line because the batteries were catching on fire. What an expensive mess.
- [14:02]
Git Montreux
You can say that again. It cost Samsung something in the neighborhood of $2 billion and everyone was saying that they were going to be in big trouble financially. Well, just recently Samsung released their fourth quarter profit forecast and they now say they are expecting a 50% jump in sales over the fourth quarter a year ago. If you ask me, that is a borderline miracle.
- [14:31]
Samantha Vega
Wow, that is indeed a borderline miracle. I guess that's what happens when you are such a well diversed conglomerate. Shall we move on?
- [14:40]
Git Montreux
By all means.
- [14:41]
Samantha Vega
Next, we have a very professional expression that you can use in any type of meeting or discussion. The phrase is for the sake of argument and you can use it when you introduce an idea or opinion that you don't necessarily agree with. You just want to hear how other people will respond to it. In the story, after I accused Skip of being a borderline climate change denier,
- [15:04]
Git Montreux
I said I was only being a denier for the sake of argument.
- [15:07]
Samantha Vega
Hey, you cut me off that's borderline rude.
- [15:11]
Git Montreux
I'm sorry. I just like saying that phrase.
- [15:13]
Samantha Vega
No worries. I just wanted to use borderline in context. Anyway, as I was saying, after I accused Skip of being a borderline climate change denier, he stated that he was only doing it for the sake of argument. In other words, he really isn't a denier. Thank goodness.
- [15:29]
Git Montreux
For the sake of argument, Samantha, what if I was an actual denier?
- [15:35]
Samantha Vega
If you were an actual climate change denier, I'd have to sit you down and give you a good education on the subject.
- [15:41]
Git Montreux
Really? That is so nice to hear. I thought for sure you would just stop talking to me.
- [15:47]
Samantha Vega
Of course not. I'm always willing to help people see the light.
- [15:50]
Git Montreux
Well, you certainly have an abundance of knowledge on a wide variety of topics, not just about climate change.
- [15:58]
Samantha Vega
I'm not so sure about that. But abundance is our next word. This noun simply indicates a large amount of something. In the story, I mentioned that it is hard for new energy technologies to develop while there is an abundance of fossil fuels available.
- [16:14]
Git Montreux
In other words, because there is so much cheap oil, natural gas and coal available in the world, it is difficult for alternative energy companies to invest in expensive research and development.
- [16:27]
Samantha Vega
You can either say that there is something in abundance, or you can say that there is an abundance of something. For example, the New Zealand agriculture industry has an abundance of sheep ranches, whereas wheat farmers are in abundance in the Canadian agriculture sector.
- [16:45]
Git Montreux
Canada also has an abundance of beef producers. That's one thing I really do miss about living in Canada. Alberta. Beef.
- [16:55]
Samantha Vega
Beef production. A major contributor to climate change. I must point out, like I said,
- [17:00]
Git Montreux
you have an abundance of knowledge.
- [17:02]
Samantha Vega
Thanks, Kip. But if you say that again, you're going to be borderline annoying.
- [17:07]
Git Montreux
Moving on. Our next expression is a very common American phrase that comes from the sport of baseball. To step up to the plate. This is the moment when the batter gets ready to hit the ball thrown from the pitcher. Idiomatically, to step up to the plate has the nuance to either get ready or take responsibility for something.
- [17:30]
Samantha Vega
It also has the nuance that the person who is stepping up to the plate is doing so because others won't or haven't yet. In a sense, it communicates that they are volunteering to do something.
- [17:42]
Git Montreux
In today's report, I reported that Bill Gates stepped up to the plate and created the Breakthrough Energy Coalition. In other words, he created the coalition because others hadn't.
- [17:54]
Samantha Vega
The surest way to get a promotion in your organization is to always be stepping up to the plate when there is a difficult task to be done. Do that often enough and your bosses are sure to notice your commitment and ability.
- [18:06]
Git Montreux
Nice business example. What is our next word?
- [18:11]
Samantha Vega
Finally, today we have the very lovely phrase to go hand in hand.
- [18:15]
Git Montreux
This is a nice phrase, isn't it?
- [18:17]
Samantha Vega
I like it. You can use it to say the two things are well suited or compatible with each other. In the story I said, that Bill Gates Breakthrough Energy Venture Fund goes hand in hand with green efforts being made by other Fortune 500 companies. In other words, the venture fund will produce technology that will help those 500 companies reach their carbon reduction goals.
- [18:39]
Git Montreux
And because of those targets, the startup companies funded by the venture fund will have automatic customers.
- [18:47]
Samantha Vega
A very compatible situation.
- [18:49]
Git Montreux
It's fairly common for two companies to partner up together and market products that go hand in hand with each other. Take for example how Nike has developed jogging software for both the iOS and Android systems. That software goes hand in hand with their line of running shoes I didn't
- [19:09]
Samantha Vega
know you were much of a runner, Skip.
- [19:11]
Git Montreux
No, I'm not. But I do have the Nike app on my phone.
- [19:21]
Narrator
Would you like to support down to Business English? Be sure to visit the D2B page in iTunes and subscribe to the show. While you are there, why don't you leave a rating and a comment? This will help D2B reach more people wanting to improve their Business English skills. Down to Business English Business News to improve your Business English.
- [19:53]
Git Montreux
Thanks Samantha. It was really nice talking with you today.
- [19:56]
Samantha Vega
You too, Skip. I'm looking forward to working together on down to Business English this year.
- [20:00]
Git Montreux
As am I. I think 2017 is going to have many interesting business stories for us to cover and report on.
- [20:08]
Samantha Vega
And with the new Commander in Tweet in the White House, Donald Trump, I'm sure there are many exciting business stories in our future.
- [20:15]
Git Montreux
I'm sure there are. Everyone, don't forget to drop by and visit the D2B website and download the audio script for today's podcast.
- [20:25]
Samantha Vega
They are a great learning tool that goes hand in hand with the podcast.
- [20:29]
Git Montreux
Thanks for listening everyone. See you next time.
- [20:32]
Samantha Vega
Talk to you again soon. Take care.
- [20:40]
Narrator
Have a comment or question about today's show? Don't be shy. Visit the D2B website or the Facebook page and post any comments or questions there. Skip, Des or Samantha will be sure to leave a reply. Want to get even more down to Business English? Sign up for the D2B Newsletter and receive updates on some of the stories covered on down to business English. That's www.downtobusinessenglish.com down to business English Business news to improve your business English Sam.