>> Hi, I'm Whitney Espich, the CEO of the MIT Alumni Association.
and I hope you enjoy this digital production created for alumni and friends like you.
>> OKAY.
SO BEAM YOUR QUESTIONS IN.
LET'S SEE.
I'LL START OFF HERE WHILE WE'RE WAITING FOR THEM TO COME.
FOR EITHER OF YOU.
IN THE CHANGE OF ADMINISTRATION THAT WE HAD, THE U.S. POLICY
TOWARDS CLIMATE CHANGE HAS YOU KNOW CHANGED PRETTY
DRAMATICALLY.
HOW'S THE REST OF THE WORLD TAKING THIS IS EVERYBODY LEAVING
PARIS OR PEOPLE JUST PERSEVERING?
WHAT'S HAPPENING?
VALERIE?
>> I CAN GIVE A LITTLE COLOR TO WHAT I SEE HERE ON THE GROUND
PARTICULARLY IN CHINA.
SO I THINK THAT YOU KNOW, THE U.S. TAKING OFFICIAL POSITION
THAT THEY, THE ADMINISTRATION WOULD LEAVE THE PARIS ACCORD IS
I THINK HAS BEEN SYMBOLICALLY DAMAGING AT A WORLD SCALE TO THE
U.S. REPUTATION AND CHINA SEES THAT'S A LEAST AT A FORMAL
INTERNATIONAL LEVEL, I THINK AS AN OPPORTUNITY TO STEP INTO A
LEADERSHIP ROLE.
AT THE SAME TIME I THINK THAT WHAT'S HAPPENED IS ON THE GROUND
IT IS ACTUALLY EASED OFF THE PRESSURE SO JUST AROUND THE
EDGES, ENOUGH TO NOTICE THAT I THINK THERE'S SORT OF MAYBE A
SLOW DOWN LITTLE BIT AND SORT OF THE MOMENTUM THAT I'VE SEEN ON
THE GROUND IN TERMS OF IF YOU LOOK AT FOR EXAMPLE CHINA
EMISSION TRADING SYSTEM.
I THINK IT'S PROVIDED AN OPPORTUNITY TO SAY WE DON'T HAVE
TO RUSH THIS FORWARD.
WE'LL TAKE INCREMENTAL STEPS.
MAYBE GOOD BUT IN TERMS OF THE SENSE OF URGENCY I THINK ON THE
GROUND HAS PULLED BACK BUT THAT'S SORT OF THE SYMBOLIC
INTERNATIONAL LEVEL CHINA SEES THIS AN OPPORTUNITY TO STEP UP
AND THERE'S COUNTRIES I THINK IN BETWEEN THINKING WHERE DO WE A
LINE AND HOW CAN WE BREAK PROGRESS IN A WORLD WHERE THERE
ISN'T SUCH A STRONG CONSENSUS?
THERE'S A LOT GOING ON AT THE STATE LEVEL AND I'M OPTIMISTIC.
>> GREAT.
JANELL.
AS YOU SAID.
KIND OF VIEWED AS MARKET FAILURE IN CLIMATE CHANGE.
POLITICIANS DON'T LIKE PRICES BECAUSE OF TAXES.
SO BEING IN THE SITUATION, WHAT'S THE BEST WAY TO MAKE
PROGRESS OR TO START THAT?
>> YE.
SO I THINK I AGREE WITH THE PRESIDENT'S STATEMENTS AT THE
BEGINNING OF THIS MORNING EVENTS THAT THE HE SAID WE NEED
POLITICAL WILL AND THAT'S NOT TO SAY WE DON'T NEED A MARKET PRICE
OR ECONOMICS.
I THINK THAT'S INTEGRAL TO THE SOLUTION, BUT MORE WE NEED
POLITICIANS THAT ARE WILLING TO DIRECT RAPID ENERGY TRANSITION.
THE TECHNOLOGIES EXIST AND MIT IS A HUB- BUT HOW DO YOU BRING
THEM TO MARKET.
>> OKAY.
VALERIE?
WE'VE HEARD THAT CHINA IS FUNDING AND BUILDING COAL
POWERED, POWER IN AFRICA, SEEMS LIKE CHINA DE FOSSILIZES IT
MAKES MAKING SURE THERE'S A LONG-TERM MARKET FOR THE COAL
ARE THEY ACTIVELY SHIFTING CARBON FOOTPRINT TO OTHER PLACE?
>> I THINK EVERY NATION.
THAT'S DEVELOPED HAS SHIFTED TO OTHER PARTS OF WORLD SO IF YOU
LOOK FOR EXAMPLE AT WHERE DOMESTICALLY CHINA'S WAR BONN
ORIGINATED OVER THE PAST TEN OR 20 YEARS MORE THAN 20% IS
ATTRIBUTABLE TO GOODS THAT'S ARE EXPORTS FROM CHINA.
I'M NOT SIDE STEPPING THE QUESTION BUT IT'S IMPORTANT TO
RECOGNIZE THAT EVERY DEVELOPED NATION HAS ESSENTIALLY
OUT-SOURCED THEIR ENERGY FOOTPRINT AT SOME POINT.
I THINK THIS IS HAPPENING TO A CERTAIN DEGREE WITH CHINA TODAY
AND THIS ABSOLUTELY A REASON TO FOCUS ON GETTING SCRUTINIZING
THE ENVIRONMENTAL CHARACTERISTICS OF THE COAL
PLANTS BUILT IN SOUTHEAST ASIA AND AFRICA.
SOME OF THESE ARE ULTRA CRITICAL THAT CHINA IS EAGER TO EXPORT.
THE BRIGHT SPOT IS THAT CHINA ALSO HAS A LOT OF SOLAR AND
WIND.
ESPECIALLY SOLAR THAT'S VERY KEEN TO EXPORT ELECTRIC VEHICLES
THAT IT'S KEEN TO LEAD IN TERMS OF NEW BRANDS SO THOSE MAY ALSO
CONTRIBUTE TO REDUCING CARBON AND WE HAVE OF COURSE WE WANT TO
BE VERY CLEAR ABOUT WHAT'S HAPPENING WITH CHINA'S COAL
BUILDS AROUND THE WORLD.
>> JANELLE?
DO THEY WANT TO GENERATE FROM ASSETS STILL IN THE GROUND?
>> IT IS A GOOD QUESTION.
I THINK THE OBVIOUS ANSWER IS YES, RIGHT?
I HEAR A FEW CHUCKLES IN THE AUDIENCE BUT IF THE PETROLEUM
INDUSTRY IS REALLY SMART ABOUT THIS THEY WON'T THINK JUST
SHORT-TERM BECAUSE THE ANSWER IS YES, IN THE SHORT-TERM IN THE
LONG-TERM THOUGH.
THEY'RE MUCH BETTER TO THINK ABOUT THE FACT THAT THE ENERGY
TRANSITION IS INEVITABLE WHETHER A MATTER OF TECHNOLOGY PROGRESS
OR CLIMATE CHANGE SO THE QUESTION IS WHO WILL BE THE
LEADER OF THAT TRANSITION?
AND SO I THINK THIS IS MORE REFLECTED BROADLY IN A WAY IN
WHICH WE FRAME THE DISCOURSE.
I STUDIED THE DIFFERENCES IN DIFFERENT REGIONS AND IN THE
UNITED STATES THERE'S A TENDENCY TO NEGATIVE COSTS AND THE CHANGE
WILL HAVE THIS AND IN EUROPE WHO HAS TAKEN THE LEAD THE DISCOURSE
IS MUCH MORE AROUND THE OPPORTUNITY AND THE ECONOMIC
BENEFIT.
LIKE THE STERN REVIEW AND THE POSITIVE ECONOMIC AFFECT OF
DECARBONIZATION.
IF THE INDUSTRY STOPS THINKING ABOUT THE QUARTERLY RETURNS AND
START THINKING ABOUT WHO THEY ARE GOING TO BE IN 100 YEARS,
THEY'LL TAKE THE LEAD ON THIS ISSUE.
>> YES, WELL CHANGE BRINGS OPPORTUNITY AND SOMEBODY WILL
PROFIT.
COMMENT ON ADVANCED NUCLEAR TECHNOLOGIES AND THE POLITICAL
HURDLES TO GET THEM ACCEPTED?
[LAUGHTER] HAPPY TO TAKE THAT.
>> I GUESS THAT'S DEFINITELY A TOUGH QUESTION.
I THINK YOU KNOW, THERE ARE ESSENTIALLY ONLY A COUPLE OF
COUNTRIES REALLY ACTIVE IN GOING NUCLEAR FLEETS TODAY.
SO CHINA IS ONE OF THEM BUT CHINA MAY NOT NEED ALL THE
NUCLEAR IT'S EXPECTING AND THEN SOUTH KOREA AND SO THERE ARE A
COUPLE OF OTHER EXAMPLES IF YOU COME BACK TO THE U.S. NOW, ONE
OF THE GREATEST REALIZATIONS FOR US IS THAT WE'RE LOSING NOT JUST
MOMENTUM ON NEW BUILDS BUT ALSO ON THE CAPABILITIES THAT WE
NEED, SCIENTIFIC AND CAPABLE TECHNICAL CAPABILITIES TO MANAGE
AND ESSENTIALLY PLAN FOR THE FUTURE FOR THE NUCLEAR FLEET WE
HAVE, AND ANY POTENTIAL GROWTH.
I WISH I HAD BETTER NEWS FOR YOU BUT I DON'T SEE THOSE REGULATORY
HURDLES AND THE SORT OF CHALLENGES IN MAINTAINING
CAPABILITIES AS GOING AWAY SOON AND THIS IS AN OPPORTUNITY I
THINK FOR THE GOVERNMENT TO REALLY THINK HARD ABOUT WHETHER
WE WAND TO LEAD IN THIS TECHNOLOGY.
WE HAD AN IMPORTANT ROLL IN THE DEVELOPMENT AND THIS IS
ESSENTIAL GOING FORWARD IN INTERNATIONAL SECURITY AS WELL.
>> METHANE LEAKING AND LIVESTOCK GENERATED METHANE.
HOW DO YOU MEASURE IT AND PRICE IT?
[LAUGHTER] >> OUR ALUMS ARE NOT EASY ON YOU
GUYS.
>> THEY'RE NOT.
IT ACTUALLY BRINGS TO BEHIND COMPOSTING FOR SOME REASON
THAT'S ACTUALLY A REALLY EFFECTIVE WAY TO REDUCE METHANE
LEAKS AND I DON'T KNOW WHERE THE QUESTION WAS GOING.
I THINK AGRICULTURE IS A BIG CHALLENGE AND MAYBE PUSHES THE
QUESTION ABOUT LIFESTYLE CHOICES.
METHANE IS A MAJOR CONTRIBUTOR TO THE GREENHOUSE GAS AFFECT SO
A BIG PORTION OF THAT COMES FROM AG SO THE WAY IN WHICH WE
CONSUME FOOD AND RESOURCES AND THERE AS RANGE OF STUDIES THAT
THE SHOW THE DEMONSTRATED AFFECT IN TERMS OF LAND-USE, WATER, IN
TERMS OF CARBON DIOXIDE OF BEING VEGETARIAN.
SO AGAIN, LIKE I REALIZE THAT'S A SOCIAL VALUE.
VERY CONTROVERSIAL, BUT I DO THINK THAT THERE'S CERTAINLY ONE
OF THE ANSWERS IS JUST, IT'S KNOW THE CAPTURING METHANE.
IT'S NOT PREVENTING METHANE.
IT'S PREVENTING BY CHANGING OUR DIET.
THE OTHER THING IS COMPOSTING THAT WE COULD DO MORE ON A
MUNICIPAL AND CITY SCALE TO COMPOST AND TO DO THAT IN A
PROCEDURE TO UTILIZE THE METHANE GAS FOR NATIONAL GAS PRODUCTION.
>> OKAY.
ONE LAST QUESTION HERE.
BECAUSE WE'RE OUT OF TIME.
HOW DO WE GO FROM BEING LOUISIANA TO BEING NORWAY?
[LAUGHTER] [APPLAUSE]
>> HATS OFF TO WHOEVER CAME ONE THAT ONE.
>> AGAIN, I THINK IT'S ALL ABOUT, IT IS ABOUT SOCIAL VALUES
AND THE THINGS THAT THE ARE VALUED AND THE WAY IN WHICH
SOCIETY HAS ESTABLISHED, BUT IT'S ALSO REALLY STRONG
REGULATORY POLICY.
WEALTH DOESN'T JUST REPRODUCE ITSELF AND DOESN'T IMBED ITSELF
IN SOCIETY AND COMMUNITIES IT HAS TO BE IMBEDDED AND MANAGED
AND SO AGAIN THAT REQUIRES REALLY STRONG REGULATION AND IT
REQUIRES A REALLY ACTIVE, I GUESS SOCIAL WELFARE SYSTEM THAT
PROTECTS THE WELL-BEING OF SOCIETY.
>> SURE.
I WOULD SAY YOU KNOW YOU WANT TO MAKE IT POSSIBLE IN FACT
DESIRABLE FOR TODAY'S LEADING ENERGY COMPANIES TO BE INVOLVED
WITH AND LEAD THE WAY ON SOME OF THESE NEW TECHNOLOGIES.
I THINK THERE'S APPETITE BUT MAYBE REGULATORY OR OTHER
CONSTRAINTS AND I THINK WE NEED TO THINK ABOUT THE CLIMATE
PROBLEM AS NOT JUST GETTING POLICIES RIGHT BUT THE
INSTITUTIONAL RULES NEEDED TO ENCOURAGE COMPANIES AND NORWAY
IS A PRIME EXAMPLE AND REWARD THEM FOR TAKING STEPS IN A
CLEANER DISTRIBUTION.
>> WE THANK YOU BOTH FOR THOSE GREAT PRESENTATIONS AND THANKS
ARE THE GREAT QUESTIONS FROM AUDIENCE.
WE'RE GOING TO TAKE A BREAK AND WE'LL BE BACK AT 10:40.
>> Thanks for joining us.
And for more information on how to connect with the MIT Alumni
Association, please visit our website.