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The Renewable Reserves Working Group is an industry-led initiative that recognizes the importance of being able to assess and quantify renewable energy resources in a consistent and transparent way. The Working Group organized its first workshop in London, 31 October - 1 November 2012. The event was hosted by the international law firm Norton Rose as its Tower Bridge offices.
Renewable energy assets provide sustainable and much needed fuel and power to the world, and complement or at times displace hydrocarbon use in the global energy mix. As the renewable energy industry commercializes, it is increasingly important to be able to assess and quantify renewable energy resources in a common and transparent way to secure needed investment.
Following a review of existing classification systems, the experts at the Workshop agreed that the United Nations Framework Classification for Fossil Energy and Mineral Reserves and Resources 2009 (UNFC) offered the potential to be applied to renewable energy resources. Such a broadening of the scope of application of the UNFC to renewables could allow a meaningful comparison of renewable energy resources with non-renewable resources.