Latest / What the Flux / Telstra quits "carbon neutral" goal | Wrigley's new angle for chewing gum | Stake.com's major lure

Transcript

Telstra quits "carbon neutral" goal | Wrigley's new angle for chewing gum | Stake.com's major lure · What the Flux

• 0:05
  Speaker 1: This is what the flux.
• 0:06
  Speaker 2: I'm Bratton and I'm justin and it's Wednesday, the nineteenth
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  Speaker 2: of June. Feman, welcome back, bye, golly, it's good to
• 0:12
  Speaker 2: be back. Jussy boy, me ow didn't get any hour
• 0:16
  Speaker 2: and neuroaight now, Josey boy, Another RBA meeting is in
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  Speaker 2: the books. And yes, another pause keeping the cash rate
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  Speaker 2: at four point three five percent in a fifth pause
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  Speaker 2: in a row. And three of the big four banks
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  Speaker 2: are still expecting a cash rate drop later this year.
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  Speaker 1: So finger is across.
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  Speaker 2: Speaking of the RBA cashert, We've done a whole heap
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  Speaker 2: of deep dyes in the Flux app about why there
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  Speaker 2: was a pause, why didn't increase and also why Australia's
• 0:40
  Speaker 2: kind of following the Federal Reserve in the US when
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  Speaker 2: it comes to the cash rat is very very juicy.
• 0:45
  Speaker 2: So flex out. Make sure to downlad the Flux app
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  Speaker 2: and check it all out.
• 0:48
  Speaker 1: Three profit worthy stories today, jusy boy, let's do it
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  Speaker 1: for our first. Telstra has scrapped its commitment to a
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  Speaker 1: carbon offset scheme and it's also cut its plans to
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  Speaker 1: become carbon.
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  Speaker 2: Neutral, pulling away from the pack. He is, so tell
• 1:01
  Speaker 2: me more well, does he boy.
• 1:02
  Speaker 1: We obviously know Telster for being the largest telco company
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  Speaker 1: in the whole of Australia, and four years ago, Telstra, the.
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  Speaker 2: Very good corporate citizen, joined the government's Climate Active program.
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  Speaker 1: Along with seven hundred other companies.
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  Speaker 2: Now, the goal of signing up was to get all
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  Speaker 2: these companies to carbon neutral.
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  Speaker 1: In other words, investing in projects to offset the pollution
• 1:21
  Speaker 1: that they are emitting.
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  Speaker 2: But now four years later, Telstra's announced that it will
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  Speaker 2: stop buying carbon credits under the government's program, and.
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  Speaker 1: Rather than buying these carbon credits, it will invest more
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  Speaker 1: money into decarbonization project.
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  Speaker 2: Like introducing renewable energy in its data centers.
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  Speaker 1: And does it Boy. Ultimately, Telstra recons this will help
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  Speaker 1: reduce its carbon footprint as opposed to just buying carbon
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  Speaker 1: credits to offset the carbon it was creating as a business.
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  Speaker 1: But interestingly, many people are actually celebrating Telstra leaving this
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  Speaker 1: program because carbon credits are a murky world for businesses.
• 1:53
  Speaker 2: Sounds very juicy, So what is the key lanning here?
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  Speaker 1: Carbon credits have great intentions but appear to be failing
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  Speaker 1: in reality.
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  Speaker 2: Put, carbon credits allow big polluters to offset the carbon
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  Speaker 2: that they amiss.
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  Speaker 1: That means you don't actually need to change any of
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  Speaker 1: your behavior if you don't want it.
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  Speaker 2: In other words, if you're emitting carbon from your data center,
• 2:10
  Speaker 2: you invest in units of carbon credit and.
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  Speaker 1: These units can go towards land restoration projects to remove
• 2:16
  Speaker 1: carbon dioxide from the atmosphere. And this is why the
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  Speaker 1: carbon credits market around the world is growing rapidly. In fact,
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  Speaker 1: the carbon credit market was valued at over one hundred
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  Speaker 1: and three billion US dollars in twenty twenty three and
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  Speaker 1: expected to.
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  Speaker 2: Grow by fourteen point eight percent over the next eight years.
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  Speaker 1: But the reality is carbon credits have attracted plenty of
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  Speaker 1: controversy giant and that is because.
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  Speaker 2: People argue they're kind of misleading and like a whole
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  Speaker 2: lot of transparence.
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  Speaker 1: For example, Telstra copped heat for buying the majority of
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  Speaker 1: its carbon credits from renewable projects not in Australia but
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  Speaker 1: in India, emitting in Australia and buying credits in India exactly,
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  Speaker 1: which is probably why Telster has decided to go back
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  Speaker 1: to basics and just reduce their emissions.
• 2:53
  Speaker 2: For our second story, Mars Wrigley, the snack food behemour,
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  Speaker 2: is spending millions of dollars to try and restore its
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  Speaker 2: chewing gum brands to their former glory.
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  Speaker 1: Chewing gum fell off the cliff during COVID with nobody
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  Speaker 1: to impress. So what is going on here?
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  Speaker 2: So Mars Wriggly is the multinational manufacturer of a whole
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  Speaker 2: range of foods anti pet products as well.
• 3:13
  Speaker 1: We'd be talking Mars Bars obviously, Eminem's Pods, Maltesers, even Bounty.
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  Speaker 1: On top of that, Juzzy Boy also owns a BK
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  Speaker 1: chewing gum, Airwaves, Juicy Fruit, as well as the heroes
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  Speaker 1: Extra and Orbit.
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  Speaker 2: But be man, Mars Wrigglely is facing a bit of
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  Speaker 2: a sticky problem at the moment because gum sales peaked
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  Speaker 2: in twenty ten according to Euromonitor, and just haven't bounced out.
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  Speaker 1: And they've tried everything.
• 3:36
  Speaker 2: They've tried things like fresh breath, long lasting taste, great
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  Speaker 2: confidence on dates, and now Mars Wriggly is back again
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  Speaker 2: with another major commitment to investing in their.
• 3:45
  Speaker 1: Gum ad Now this time around, Juzsey Boy, Extra and
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  Speaker 1: Orbit Gum is going to silence your anxious thoughts and
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  Speaker 1: improve your self esteem.
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  Speaker 2: Really leaning into the trend, towards mindfulness.
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  Speaker 1: And the trend towards anxiety.
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  Speaker 2: I'd really like to see the peer reviewed research behind
• 3:59
  Speaker 2: this link. Please quite your mind with Minty Breath gum.
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  Speaker 2: But this new campaign follows a number of failed campaigns
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  Speaker 2: because the brand is already so well known.
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  Speaker 1: So what is the key learning here?
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  Speaker 2: Revamping an iconic brand is like a cover of a
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  Speaker 2: classic song. Everyone knows the original way too.
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  Speaker 1: Well, clearly Juzzy Boy. It's very difficult because Extra has
• 4:19
  Speaker 1: been around since nineteen eighty four.
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  Speaker 2: So to bring around real change, brands need a shift
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  Speaker 2: customers perception of the brand entirely. Let's be honest.
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  Speaker 1: Twoing gum brands are up against it at the moment.
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  Speaker 2: Yeah. Global gum sales fell nearly twenty percent between twenty
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  Speaker 2: nineteen and twenty twenty during the pandemic.
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  Speaker 1: And although they have bounced back, there's still been a
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  Speaker 1: significant decline in the actual number of gum units sold
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  Speaker 1: since then.
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  Speaker 2: That's according to Euromonitor.
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  Speaker 1: Gum isn't the first product that's had to totally shift
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  Speaker 1: their brand positioning to turn things around.
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  Speaker 2: For example, back in the eighties, Harley Davidson turned itself
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  Speaker 2: around big time.
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  Speaker 1: They were just another motorcycle company and became a symbol
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  Speaker 1: of rebellion in the US.
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  Speaker 2: They went from the brink of bankruptcy to a four
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  Speaker 2: and a half billion US dollar company. So Mars Wrigley
• 4:58
  Speaker 2: is hoping to do the same. Billious Gum.
• 5:00
  Speaker 1: For our third and final story, Steak dot Com, the
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  Speaker 1: online casino, is desperate to law in tech talent from
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  Speaker 1: Australia's biggest companies, so it is throwing huge dollars at them.
• 5:11
  Speaker 2: Rolling the dice in this little game of salary rulette.
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  Speaker 2: B Man, so tell me more so.
• 5:15
  Speaker 1: Steak dot COM's owner, Easygo Solutions, is a tech company
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  Speaker 1: in the entertainment space and be Man.
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  Speaker 2: Although they're global and not legal in Australia, they're actually
• 5:23
  Speaker 2: founded here.
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  Speaker 1: Now they own brands like Steak dot Com, the world's
• 5:26
  Speaker 1: biggest online cryptocasino, but also kick dot Com and Twist
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  Speaker 1: Gaming and the Man.
• 5:31
  Speaker 2: Steak dot Com has made quite the name for itself
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  Speaker 2: as an online casino.
• 5:34
  Speaker 1: Sponsors Everton Football Club in the UK and also Alpha
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  Speaker 1: Romeo in the f Y.
• 5:39
  Speaker 2: Not to forget Drake being one of their ambassadors as well,
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  Speaker 2: and now juzy Boy Easygo, which doesn't quite have the
• 5:44
  Speaker 2: rep of a Canva or an Atlastian is throwing mega
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  Speaker 2: salaries to bring tech talent into their business. They claim
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  Speaker 2: salaries twenty percent above the industry average.
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  Speaker 1: The hard thing for Easygo though, is that it's looking
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  Speaker 1: for talent in a shrinking pool.
• 5:58
  Speaker 2: So what is the key learning here?
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  Speaker 1: Australian tech industry has a major challenge on the horizon,
• 6:02
  Speaker 1: a shortage of skilled workers for a growing number of jobs.
• 6:05
  Speaker 2: You see be man. It's estimated that Australia will need
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  Speaker 2: an extra three hundred thousand tech workers by twenty thirty
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  Speaker 2: according to the Federal Government.
• 6:12
  Speaker 1: Forecasts, and at the same time, there are only about
• 6:14
  Speaker 1: six thousand science and engineering students graduating in Australia every year.
• 6:18
  Speaker 2: As a result, companies have to throw everything but the
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  Speaker 2: kitchen sink to get the best talent.
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  Speaker 1: A skills shortage in technology can have serious implications for
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  Speaker 1: the growth of tech companies in the future, because.
• 6:28
  Speaker 2: Strong growth relies on strong people. Fox Am, you might
• 6:31
  Speaker 2: not be surprised, but Australia loves to follow the US,
• 6:34
  Speaker 2: particularly when it comes to cash rate rises and pauses.
• 6:37
  Speaker 2: But there's a reason behind it and we've got to
• 6:39
  Speaker 2: cover it. In the Flux app to make sure to
• 6:41
  Speaker 2: download it so you can be smarter than your boss.
• 6:43
  Speaker 1: Thanks for listening, and we'll see you on a for
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  Speaker 1: Friday