Government representatives of national members of the Global Geothermal Alliance agreed on 12 September to work together to identify and implement measures that will significantly increase the speed of geothermal energy development around the world, following what is being called a milestone meeting of over 200 public and private leaders in Florence.
Under the terms of the ‘Florence Declaration’ governments will actively pursue a collective ambition to realise geothermal potential. The meeting, entitled: ‘Working Together to Promote Geothermal Energy Towards a Sustainable Energy Future’ – the largest such meeting of ministerial representatives to discuss geothermal energy – was marked by the release of a new report from the International Renewable Energy Agency (IRENA), co-ordinator of the GGA, in which access to capital for surface exploration and drilling was cited as the main barrier to geothermal development. The report also noted that more ‘transparent government regulations that avoid project delays’ were needed to provide sufficient certainty to developers and investors.
Italy’s minister of Environment, Mr Gian Luca Galletti stated: “Italy considers the Paris Agreement to be irreversible and non-negotiable and therefore strives to promote geothermal and other renewable energy sources as a vital component for the planet's sustainable development.”
“Geothermal's vast potential is currently untapped,” he continued. “We must develop new technologies and encourage new investments to ensure we cover this gap. The Alliance will multiply its efforts to guide this process, and Italy will provide its contribution with its long experience and know-how.”
Director general of IRENA, Mr Adnan. Z. Amin, comented: “If we can identify and implement mechanisms that deliver a greater level of certainty to investors and developers, then we will move beyond meaningful dialogue to decisive action that accelerates geothermal production, contributing significantly to decarbonisation of the global economy, whilst creating jobs and supporting growth around the world.”
The GGA membership is composed of 42 countries, and 29 partner institutions, including multilateral organisations, development partners, international and regional organisations, global financial institutions, academia, research institutions and the and private sector