Presenter:
Event date:
Monday, 19 February 2024 - 1:00pm to 2:30pm
Venue:
The Treasury, 1 The Terrace, Level 3, Wellington, 6011, New Zealand
Event series:
Abstract
Hottest month on record. Extreme marine heatwaves. Record-low Antarctic sea-ice. While El Niño was a short-term factor 2023's record-breaking heat, human-caused climate change is the main reason for long-term record-breaking temperatures. Can using hydrogen as a fuel be part of the solution?
In this seminar, Dr Sergey Paltsev from the Massachusetts Institute of Technology (MIT), will share findings of the recently released MIT Global Change Outlook. This report presents analysis of the risks and benefits of existing climate policies and emphasises the need for faster action to stabilise the climate and protect human and natural systems. It also discusses projections for energy transition, highlighting the importance of reducing reliance on fossil fuels. The document projects that sectors like heavy-duty long-distance transport, high-temperature industrial heat, agriculture and chemical production will continue to have a sizeable need for hydrocarbons in the form of liquid and gaseous fuels. Hydrogen-based fuels and renewable natural gas remain attractive options, but challenges related to their scaling opportunities and costs must be resolved. Sergey will use his studies on the use of hydrogen in steelmaking, shipping and land transportation to argue that substantial government-supported R&D, infrastructure development and financial incentives are needed to realise the potential of hydrogen-based solutions.
This hybrid seminar is organised jointly by Te Tai Ōhanga - The Treasury and Motu Research.
About the presenter
Dr Sergey Paltsev is a Deputy Director of the MIT Joint Program on the Science and Policy of Global Change, a Senior Research Scientist at the MIT Energy Initiative and MIT Center for Energy and Environmental Policy Research (CEEPR), and a Director of the MIT Energy-at-Scale Center, Massachusetts Institute of Technology (MIT), Cambridge, USA.
He is the lead modeler in charge of the MIT Economic Projection and Policy Analysis (EPPA) model of the world economy.
His research covers a wide range of topics including energy economics, climate policy, taxation, advanced energy technologies, and international trade. Sergey is an Advisory Board Member for the Global Trade Analysis Project (GTAP) Consortium and a Member of the Economy-Wide Modeling Panel for the US Environmental Protection Agency (EPA) Science Advisory Board. Dr Paltsev is an author of more than 100 peer-reviewed publications in scientific journals and books.
Sergey was a Lead Author of the Fifth Assessment Report (AR5) of the Intergovernmental Panel on Climate Change (IPCC).
Productivity in a Changing World seminar series
At Te Tai Ōhanga – The Treasury, we want to facilitate learning and debate on the important issues facing New Zealand. In 2023 and early 2024 the Treasury Guest Lectures are being organised under the theme: Productivity in a changing world.
This theme recognises that lifting our productivity performance continues to be central to improving New Zealanders’ wellbeing and that we are facing this challenge in the context of significant economic, social and environmental shifts. These shifts will require considerable changes in our economy if we are to sustain and improve our economic and productivity performance.
Related content
Related documents
- Presentation slides: Productivity and Skills - Role of Hydrogen in Low-Carbon Energy Transition
PDF
2.24 MB
Related information
Treasury research papers (1997-2020): Productivity
Related external links