European Union joins Global Geothermal Ambition 2050 at COP31

The European Union has officially joined the "Global Geothermal Ambition 2050" initiative, a international commitment aimed at increasing global geothermal energy production twelvefold by 2050. The initiative was unveiled during the COP31 climate conference in Antalya, Turkey, through a collaboration between the Turkish presidency of the summit and the International Renewable Energy Agency (IRENA).

According to data from the European Commission’s Directorate-General for Energy, the plan seeks to raise the global installed capacity for geothermal electricity generation from approximately 15.6 gigawatts in 2025 to 193 gigawatts by mid-century. Furthermore, IRENA analysis suggests that the total primary supply of geothermal energy for heating and electricity could grow from 2.5 exajoules currently to 31 exajoules by 2050. The initiative emphasizes the necessity of strengthening policy frameworks, fostering investment opportunities, and advancing research and development in geothermal infrastructure to ensure a stable, weather-independent energy source.

This commitment reflects a strategic effort to enhance energy security and achieve climate goals by diversifying the global energy mix. The initiative serves as a framework to boost supply chains and address the technical and financial hurdles currently limiting the widespread adoption of geothermal technologies.