Peatland restoration is an internationally recognised and cost-effective way to tackle climate change. It is in everyone’s interest for peatlands to be in a healthy state.
The UK Peatland Strategy has set a challenge for 2 million hectares of peatland to be in good condition or under restoration management by 2040. To achieve this goal a significant funding gap must be addressed presenting opportunities for the business community. By supporting Peatland Code projects through the purchase of validated and verified carbon units, businesses will have an opportunity to not only address their carbon footprint but also enhance their brand integrity and value, deliver corporate sustainability objectives and contribute strategically to the long-term protection and enhancement of the UK natural environment.
Defra’s Ecosystem Markets Taskforce describes the UK Peatland Code concept as: “A logical next step for the carbon market, in line with recent global and EU trends towards regionalisation of carbon markets. [A UK Peatland Code] would deliver significant resources to restore peatlands which are among the UK’s most degraded habitats.”
Action now to invest in peatlands will avoid far greater cost to businesses and wider society in future with the Peatland Code providing a robust mechanism for those wishing to do so.
Why purchase Peatland Code carbon units?
Peatlands are a key part of our natural capital worth £billions in terms of the services they can provide. Restoring peatlands not only contributes to climate change efforts, it can also:
• improve drinking water quality
• slow surface water flow, helping prevent flooding
• provide habitat for unique biodiversity.
Each peatland restoration project is unique, and a project can be found to meet the specific needs of each individual buyer. Opportunities are also available for staff and customers to see first-hand the benefits for nature and people of these natural places via site visits.
Where can Peatland Code carbon units be purchased?
The UK Land Carbon Registry shows available projects or alternatively buyers can use the services of a specialist carbon broker to actively search for a suitable project on their behalf. Projects can market the benefits of their project at any time over it’s duration, with the majority selling the total upfront once their peatland restoration plan has received validation.
How much do Peatland Code carbon units cost?
Peatland Carbon Units (PCUs) are only available once a project has been verified, 5 years after a peatland has been restored. We do not currently have any verified projects and do not yet know the price of PCUs.
Indicative prices show the carbon price per tonne of Pending Issuance Units (PIUs) to sell for between £15-25. For more information see the latest carbon price index work.
