Press Conference: Advancing Global Geothermal Collaboration

​Geothermal energy has significant potential to provide reliable, clean electricity, strengthen energy security, and diversify countries’ energy portfolios. Yet, despite advances in drilling and geothermal technologies, deployment remains constrained by high upfront costs, project development risks, limited subsurface data, and regulatory and infrastructure challenges.

​At COP31, ministers from leading geothermal nations will come together to build on a growing foundation of international cooperation. Recent partnerships, including the New Zealand–Iceland geothermal cooperation agreement, demonstrate how countries can combine technical expertise, resources, and institutional support to advance geothermal development.

​The press conference will feature senior ministers and highlight opportunities for greater international collaboration to accelerate geothermal deployment, drawing on lessons from countries already advancing the technology and identifying practical policy measures to improve project bankability, attract investment, and support deployment at scale.