UN ECE signs MOU with International Geothermal Association
In the MoU, the IGA will work towards providing technology-specific rules of application (‘specifications’) for the application of the United Nations Framework for Fossil Energy and Mineral Reserves and Resources.
The United Nations Economic Commission for Europe (UNECE) and the International Geothermal Association (IGA) signed a Memorandum of Understanding (MoU) to develop a globally applicable harmonized standard for reporting geothermal resources.
Such a standard will ensure greater consistency and transparency in financial reporting and enhance management of geothermal resources.
Under this MoU, the IGA will work towards providing technology-specific rules of application (‘specifications’) for the application of the United Nations Framework for Fossil Energy and Mineral Reserves and Resources 2009 (UNFC) to geothermal resources. This work will be overseen by the UNECE Expert Group on Resource Classification.
The Director of the Sustainable Energy Division of UNECE, Scott Foster, noted “Application of UNFC to renewable energy resources is a priority area for our member States. Our relationship with IGA is an important step in achieving this across all renewable technologies.”
The President of IGA, Juliet Newson, stated “It has become apparent to the IGA that a lack of clear global guidelines and standards is holding back the assessment of geothermal energy as a viable energy option at a global scale. The IGA is extremely pleased to have established this formal cooperation with the United Nations. Having an international system and a standardized terminology for reporting geothermal resources will help build the trust and understanding of the geothermal industry with investors, regulators and the general public alike.”
To read the MoU, please follow the link
Source: UNECE Website