Host – Grace Jennings-Edquist: [00:00:05] Just how important is networking in the age of AI? And what’s the business case for environmental investing? Two business thinkers weigh in on these timely themes in this week’s episode. First up, recruitment leader Roxanne Calder explains why networking and genuine relationships matter more than ever in an AI driven hiring landscape. We also speak with sustainability and regulation expert Elio D’Amato, who unpacks the business case for environmentally conscious investing. Elio reveals how the global energy transition is creating real opportunities for diversified, profitable returns while reducing carbon emissions from Sound Cartel. I’m Grace Jennings-Edquist and this is Business Essentials.
Why networking matters so much in the age of AI
Our first guest is Roxanne Calder, managing director of EST10 Recruitment. Artificial intelligence is increasingly shaping how we communicate and hire. But Roxanne says there will always be a place for genuine human connection. She outlines some great practical tips on how to build authentic relationships through curiosity, generosity and what she calls micro touches. She also shares the biggest networking mistakes people make. To get started, Roxanne tells me what real human connection means today and why it still matters so much.
Roxanne Calder: [00:01:31] I think it’s sort of a strange paradox, because we use AI so much for so many tools that we’re probably not even realizing, you know, it just becomes so much quicker and more automated. But the more that we use AI, I think the more that we actually need that human connection. And even if you take that out of the context of the question that you just asked, but if you think about how we are able to connect so much now, and yet I feel like as a group, as a collective, we are more disconnected than ever. So I think it’s something that we have to be so aware of. We’re humans. We need humans.
Host – Grace Jennings-Edquist: [00:02:04] Absolutely. With AI tools now, screening resumes and even sort of predicting fit for roles, what role does human connection still play in hiring and how can job seekers stand out?
Roxanne Calder: [00:02:16] Ai will help you get through the pipeline, and it’s on both sides. So it’s, you know, the hiring manager. And then it’s also on the for the job seeker. But the thing with that is, like I said, it will get you through the pipeline. It will get you the interview. But the interview is that human connection. And that’s the piece that will get you the job. And AI can’t replicate help you polish up a resume, can help you even research questions, but it can’t give you the genuine answers. And it’s the answers that you give an interview. It’s the rapport that you build. It’s the relationship that you build in those interviews that will build that connection. That’s the messaging that you give to people that I’m reliable, I’m going to do a good job. This is why you should hire me. No amount of ROI can make that happen for you.
Host – Grace Jennings-Edquist: [00:02:57] So, Roxanne, you’ve coached over 1000 leaders liters in professionals. I wonder what are the most common mistakes people make when networking and how can they overcome them?
Roxanne Calder: [00:03:07] So I think the biggest mistake we make is treating networking as collecting contacts. Instead of cultivating relationships. People approach it with an agenda, and then that’s when it’s really obvious that this is a, you know, purpose as opposed to I really want to get to know you. And if you go with it with that sort of intent, which is about, you know, I need to develop grace as a contact, and that sort of tension will exist in the way that you’re speaking with people. So instead, when you go to an event, it really should be about being much more relaxed and about just connecting with people. So don’t have an agenda. I don’t believe that you should have an agenda when you go to those events. Certainly, you know, you might want to research and look at backgrounds and know who it is that you would like to meet, but it should be going in with curiosity and getting to know that person. And I always encourage people to be asking questions about the person that you’re speaking with. And there’s so many things that we do wrong when we network, you know? So, for example, you know, we often get so nervous. And the moment we sort of join that circle and then we get a little bit comfortable, we ask some questions, we start to develop a rapport, and then we exit too soon. And it’s, you know, when we exit too soon, that’s the point where it’s like it was getting good, you know, why did we leave then? We think we have to keep going around the room. But maybe what we should be doing is just spending more time with that person and understanding what that next story was going to be and what that might be. That helps you to develop that rapport for later on. When you want to have contacts or reach out to people. And it makes it so much easier. But networking is like it’s so critical. I can’t even stress how much it is beneficial for people in jobs and careers in life in general.
Host – Grace Jennings-Edquist: [00:04:38] I know many people dread networking and some might say they don’t have time. What are 2 or 3 practical strategies you can recommend for building authentic relationships efficiently? You’ve already touched on some, but perhaps there’s others you’d like to add.
Roxanne Calder: [00:04:52] Yeah, so I think micro touches. So what I mean by that is, you know, touching base with people in a way that is, I don’t know the best way to describe it because I know people say put systems in place to do that, but I feel like it’s too performative. This is just my take. You know, everyone’s you know, I’m sure there’s better people out there and networking that. But I just know what works for me. And it could be, for example, something that I’ve seen in the news and I know it’s relevant for someone that I met three weeks ago. And so I might send them a quick text or, you know, I’ve got a great example today, an article I wrote got published today, and I knew it would be of interest to male ex-colleagues of mine. So I just sent it on to them and said, I thought you guys might be interested in this. So I don’t think that we should do those micro touches from a like diarised, you know, on Wednesday, I need to reach out to five different people. That might work. For some people, it doesn’t work for me. It’s not authentic. So I just think it needs to be micro touches. That means something and that you get to show a little bit of yourself and a little bit of emotion. And when it’s in a perspective of coming from the right place, then it will mean more and feel better.
Roxanne Calder: [00:05:58] People know when it’s been more of a performative based or, you know, constructed in a way that this is a system where someone’s reaching out. To me, when we’re networking, I think it’s important to leverage proximity as well. So think about if you’re going to a conference, if you’re at a meeting where you’re meeting different departments, that’s a networking opportunity. And it’s so easy at the end of that meeting to get up and walk to the end of the table or wherever the meeting room was, and introduce yourself to whoever the head of that department is. So think about proximity and opportunities to leverage that. And the other point is be useful. So, you know, if you’re in a situation where it could be meeting, it could be a new person that you’re meeting or whatever it might be. Offer. Offer to be helpful. Offer to provide some level of assistance that might help that person or that organization or that group, or whatever it might be. And if it’s in your nature to do that, like I, it’s in my nature to be giving like it’s just who I am. So it just becomes second nature to me to be like, I can help you with that. And that’s what networking at the core should really be about. It’s about exchanging that sort of ability to help different people.
Host – Grace Jennings-Edquist: [00:07:04] I wanted to ask about networking internally inside a company because we often think about networking as external, so meeting new people. But how important is internal networking within one’s own company for career growth?
Roxanne Calder: [00:07:16] Well, I think it’s probably one of the most important aspects, and we neglect that and we don’t even understand how that works. So you need to be able to network within your own organization. So if you’ve got a big organization you should be across different departments ideally. And, you know, introduce yourself, have coffees, all those sorts of things and be in regular contact. Equally, you don’t know where people go in the future. So that’s how you then develop your external networks as well. And you want to think about your your boss, your current boss. They might leave the organisation and therefore become a future network as well. Your colleagues, for anyone who enters the workforce, you know that’s the ground point of when you should be developing some of these networks. They might be colleagues and friends, but when they move on, that’s part of your network. Equally, managers or more senior people, they become part of your network as well. And you can do that through a variety of different ways, especially with technology. Now, with LinkedIn, with all of those sorts of things, it’s much easier to be in touch. So think about who supports you, who mentors you, you know, who acts as, you know, the person that you might go to for advice, etc. we should always be networking within our own organization, but we just probably don’t see it in that way, which in actual fact is good because the moment we label it, that’s when it gets hard. Like if you said to someone on their first day, I want you to be able to network in this job and develop, I don’t know, 20 different contacts that are outside your normal group within three months. That would probably be a pressure point. But if at three months you said to that person, tell me 20 different contacts that you’ve got in the business that’s outside of your immediate circle, probably go blah, blah, blah, blah, blah. So it’s a natural way of doing it. Maybe we need to stop labeling it so much to make it less daunting.
Host – Grace Jennings-Edquist: [00:08:52] That was Roxanne Calder, managing director of EST10 Recruitment. Now to environmental investing.
Environmental investing: Can it really be profitable?
Elio D’Amato is co-founder and executive director of EnviroInvest. He joins us to share his thoughts on why environmentally conscious investing is no longer just an ethical choice, but a compelling investment opportunity. Drawing on three decades in equities, Elio explains the business case behind the energy transition and how reducing carbon emissions could shape profitable portfolios for decades to come. He begins by telling me briefly about his background and how it led to his current position.
Elio D’Amato: [00:09:34] I’ve been in equities for three decades. The dark art of the share market, as it were, has been my poison to date in dealing with retail share investors. Basically the manner that has kept me going. But this is different. My business partner, Chris Batchelor, who, like me, is also very experienced in the direct equity space. And he also writes for Kaplan, who provide CPD or continuing professional development points here for the finance industry. Anyway, he did a big piece on the environment, and his conclusion was that he found that it was actually very difficult for an investor, despite the billions which has been put into this space, to actually have a diversified portfolio of those environmentally conscious assets. Basically, the thematic we think is going to play out not only for the next decade, but for centuries to come. And, um, therefore, there was a real opportunity for investors to participate in this growing field, and particularly now, um, given that a lot of the sizzle has gone out of the space now quite an opportune time to develop a portfolio which is focused on the environment.
Host – Grace Jennings-Edquist: [00:10:46] I’m going to start by asking about just something for people who might not be familiar, what actually is environmentally conscious investing, and is it basically the same thing as ESG, which they may have heard about?
Elio D’Amato: [00:10:58] Look, ESG is a Buzz acronym that stands for environmental, social and governance. It has been around for years, but let’s face it, in our view, the E, which is the environment that leads to excess, returns the S and G. Well, look, you know, that’s cool. It’s pretty nice. But in our view, um, it doesn’t really contribute to the overall returns as the environment does. Uh, therefore, environmentally conscious investing is really focusing on that E element. And in our view, basically we want to seek a reduction of carbon, our carbon footprint, as it were, and ultimately make that blue and green sphere which is floating in space, a better place tomorrow than what it is today. Uh, now, that said, this was all started back in 1963 by the US, actually, who introduced what they called the Clean Air Act back then. Uh, it was groundbreaking. And we’ve seen a significant amount of companies on the back of that really try to find ways to cut their pollution contribution, as it were, and have made numerous investments into that. The fact of the matter is that whilst governments across the entire world have definitely bought into it, the reality is that it’s going to take corporations to get us over the line and more specifically, the capital that they have to invest. Uh, so therefore, uh, in our view, we think that, uh, you know, investor capital is going to be needed to meet these objectives, and therefore it’s a viable option for many investors.
Host – Grace Jennings-Edquist: [00:12:27] I’m wondering, what do you wish everyone would know about environmentally focused investing? Uh, perhaps there’s, like, a misconception or misunderstanding you’d like to correct.
Elio D’Amato: [00:12:36] Look, I suppose I want to start by saying that we’re not Robinson Crusoe in regards to this. So we haven’t just discovered the environment. Even Bob Brown, uh, standing up for the Franklin Dam back over 40 years ago, back in 1982. Well, that was not the beginning of it all. Many of these projects have been talked about, invested in and promoted for decades, in our view. And while the environment may be a political issue at the moment from a financial one, well, that’s actually been settled for a number of decades now. The problem is that many investors don’t understand the environment. Even if they do, they think they must employ a scattergun approach whereby basically nine companies that they invest in go broke and one shoots the lights out, which ultimately drives the returns that they are able to generate. But in reality, again, in our view, environmentally conscious investments or assets, as it were, have been around for quite a while now. Some of them even generate some income today, which is also a key consideration of what we look for. Basically, you know, that we urge investors to open their eyes, put the politics aside and really look at it through and invest the lens so you can be stubborn, fight against it if you want. But, you know, our Prime Minister said that basically, uh, well, in his speech to the UN, he said that, you know, the energy transition is the largest event that we’ve seen since the Industrial revolution, and we tend to agree with that. So you can sit on your hands and do nothing, or you can take some of the pie, which is what we urge investors to do at the moment.
Host – Grace Jennings-Edquist: [00:14:17] This brings me to my next question, which is, I guess, the big one, and you’ve touched on it a bit, but what is the business case for this type of investing? So I suppose, you know, can investing in environmentally friendly or sustainable businesses be profitable? Maybe you could speak a little more to that.
Elio D’Amato: [00:14:30] Look, I didn’t come across this idea when I was hugging a tree or being chained to a bulldozer or anything like that. Rather, I stuck my head out the window and basically saw what’s coming. And more specifically, in our latest federal budget, uh, it was said that Australia is expected to at least require some $20 billion of investment in renewable energy or renewable generation and storage projects to meet its 2030 targets, uh, let alone anything beyond that. And that’s roughly double the current rate globally. The International Renewable Energy Agency said that by 2050, which is our goal for net zero, of course, the clean energy globally, our investment in that space will work out to be around 110 US trillion dollars. So again, we’re not necessarily discovering this for the very first time. Locally, the government support is strong. The strength of the recent federal election has pretty much meant that it’s going to take a very long time for us to unwind the current trajectory that we’re on, and in our view, that is, again, towards that more renewable energy source, Cop or the what is known as the Conference of Parties, as it were, is up to its 30th edition, the latest of which is going to be held in Brazil, of course, Australia currently, and the Pacific, I should say. Currently fighting with Turkey to host cop number 31. Beyond that, of course, Ultimately, what we’re talking about here really does make sense. I mean, we need to stop thinking in the old world, and we need to start thinking in the new world. And though it might be on the lips of the future generation tomorrow, then we need to be invested in it today. And though these projects are currently being done and being worked on as we speak at the moment, many investors don’t have access to it. And really, that’s the divide we want to work across because again, we’re not discovering it for the first time. But from investors, having a diversified portfolio of quality, environmentally conscious assets is something you may not be used to.
Host – Grace Jennings-Edquist: [00:16:37] My last question is really getting into specifics. So I understand Enviro Invest is focused on investing in companies and projects that are set to profit from the goal of carbon emissions reduction. What are a couple of the specific kinds of assets you’re kind of interested in and why?
Elio D’Amato: [00:16:51] Yeah, I mean, it’s a great question because the fund is very much in the early days of establishing itself. Uh, we have a target asset allocation and what we want to do is the majority of our investments will be in those infrastructure type assets. So think of energy storage or transmission as well as, you know, power generation for that matter. We also have some exposure to innovative technologies and some of those are listed. And of course things like carbon abatement projects, which is, you know, really the action, uh, versus uh, also carbon credits, which is, uh, you know, the reward, as it were, will be invested in those as well. So ultimately, we intend to create that portfolio of diversified assets all across the board, which are though different. All in all, in what they do have ultimately the same goal, and that is to reduce the emissions that we currently are producing at the moment. But, uh, that is, uh, you know, a nice goal to have. But we focus on investors first. So as far as we’re concerned, provided, of course, the investment case stacks up all this revenues, expenses, etc. etc. and all the things that we look at are very much in train. Then yes, we will look to invest in it and turn nature into its own asset class, which is ultimately what we want to do with the Environment Fund.
Host – Grace Jennings-Edquist: [00:18:17] That was Elio D’Amato, co-founder and executive director at EnviroInvest. Thanks for joining us for this week’s episode. Follow Business Essentials Podcast across social media and head to www.BusinessEssentialsPodcast.au for more. Business Essentials is a SoundCartel podcast. Producers are Nick Schildberger, Nicole Goodman and myself. Technical production is by Pete Letts. I’m Grace Jennings-Edquist thanks for listening. We’ll bring you more business essentials next week.
