Despite its potential to significantly reduce carbon emissions, peatland restoration in Scotland is not being fully recognized as a climate change solution, hindering private investment.
Experts argue that the Science Based Targets Initiative (SBTi) does not recognize peatland restoration as a valid method for offsetting emissions.
Damaged peatlands in Scotland release over six million tonnes of CO2 annually, equating to emissions from home heating.
Public funding alone is insufficient, and private finance is needed to meet restoration targets set by the Scottish government.
Key quote:
“We are seeing active sales falling through or companies not even wanting to look at peatland carbon credits because of SBTi.”
— Dr. Renée Kerkvliet-Hermans, peatland code manager
Why this matters:
Recognizing peatland restoration in carbon offsetting standards could unlock essential private funding, aiding in the significant reduction of greenhouse gas emissions and combating climate change more effectively.
Countries that are home to rainforest and peatland vital to limiting climate change want easier access to sovereign carbon credits, a financial scheme to reward them for preserving their ecosystems, Congo Republic's environment minister says.
Around 20% of Scotland is covered in peatland; healthy peatlands capture and store vast amounts of carbon and should play a critical part of the drive for Net Zero.
