THE CANADIAN GEOTHERMAL CODE FOR PUBLIC REPORTING
The Canadian Geothermal Energy Association (CanGEA) presented the “Canadian Geothermal Code for Public Reporting” in 2010. The Code provides a minimum set of requirements for the public reporting of exploration results, geothermal resources and geothermal reserves. It provides a basis for transparency, consistency and confidence in the public reporting of geothermal information.
Canadian Geothermal Code For Public Reporting
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For a complete overview on the Canadian Geothermal Code for Public Reporting see an overview document prepared by CanGEA and its Geothermal Reporting Code Committee.
Geothermal Code Overview & Key Terms
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Objective and Scope

The Code, published in was prepared by the Canadian Geothermal Code Committee and published 2010, with the primary objectives to:
  • Provide a reporting basis that is satisfactory to investors, shareholders and capital markets, such as the Canadian Securities Exchanges, in a similar manner that existing Canadian instruments provide for the reporting of Mineral and Petroleum Resources (National Instruments 43-101 and 51-101, respectively).
  • Be applicable to geothermal plays in both Canada and internationally since the Canadian Securities Markets are utilized for the exploration and development of both national and international geothermal plays for companies based in Canada and in other jurisdictions.
The Canadian Geothermal Code for Public Reporting is a required minimum standard for public reporting. Companies are encouraged to provide information in their public reports, as comprehensive as possible.

The Canadian Geothermal Code for Public Reporting is on an industry self-regulation basis. It is anticipated that all CanGEA member companies involved in the public reporting of geothermal information on Canadian Securities Exchanges will move towards compliance.

CanGEA members involved in the financial community, including geothermal investors, financial advisers and financial institutions will also benefit from standardized and transparent reporting of geothermal assets.

The Code is not yet endorsed by the Canadian Securities Exchanges or any other regulator involved in Canadian Securities regulation, and the use of the Code by a company does not imply acceptance by regulators on the content of a report written under the Code.

Public reporting may include, but is not limited to, company annual reports, quarterly reports, information on company websites, technical and conference reports, updates for shareholders, stockbrokers and/or investment analysts.

Qualified Persons

To be Code-compliant reports must be created by a “Qualified Person”, as defined under the Canadian Geothermal Code for Public Reporting.

To be able to be Code-compliant, a report must be created by a Qualified Person as defined under the Canadian Geothermal Code for Public Reporting.

A “Qualified Person” under the Code must:
  • Have a minimum of 5 years of experience;
  • Have professional registration with an Association with a governing Code of Ethics, or equivalent;
  • Be a member in good standing of CanGEA (as a corporate member).
CanGEA maintains a “Qualified Persons Registrar”, that are certified third-party evaluation professionals. These Qualified Persons are able to evaluate and create Code-compliant documents.

Registration as a qualified person:
To register as a “Qualified Person” you need to fill out the “Qualified Person – Registration Form” , highlighting that you fulfill the requirements to become a “Qualified Person” under the Code, which will then be evaluated by the Reporting Code Committee and if accepted you will be added to the Registrar.
Qualified Person Registration Form
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Registrar of qualified persons
Public reporting under the Canadian Geothermal Code for Public Reporting is the responsibility of the company. A Qualified Person, as certified under the Code, must undertake report preparation.

CanGEA has certified individuals as “Qualified Persons” under the Canadian Geothermal Code Public Reporting. Please contact us for a current listing. ​

Geothermal Code Reporting Committee

The Canadian Geothermal Code Committee (CGCC) – established in 2008 – published the Canadian Geothermal Code for Public Reporting in 2010.

The Committee is responsible for the development of the Code, the evaluation if individuals fulfill the requirements to become registered as “Qualified Person” under the code, the international cooperation with other geothermal reporting code efforts, as for example with the Australian Geothermal Reporting Code Committee, as well as the promotion of the code, training and outreach activities.

Current Committee Members

Brian Toohey (Co-Chair), Black Swan Energy
Alison Thompson, CanGEA

Former Committee Members
1 2016, In Memoriam
*Denotes users of the Canadian Geothermal Code for Public Reporting through either Asset Disclosure, as a Qualified Person, or through Equity Research Evaluation.