UK Peatland carbon credits are a long-overlooked resource for British companies seeking to meet their long-term sustainability commitments. 93% of FTSE 350 CEO’s say they want to buy UK carbon credits when there is sufficient supply. With the advent of the new Peatland Protocol, representing an innovative new methodology for restoring damaged peatlands, being launched in 2023, the supply of new credits will be substantially increased.
What are peatland carbon credits?
Peatlands exist in the UK, Canada, Ireland, Sweden, Finland, New Zealand, Russia, and China. Carbon credits that result from restoring peatlands can be used in two main ways: i) to offset emissions from activities that emit greenhouse gases; or ii) to finance peatland restoration. Peatlands are naturally carbon-rich environments. The vegetation holds onto the carbon. When the plants die, they are slowly broken down by microbes and the carbon is released into the atmosphere. When peatlands are managed, the vegetation is cut before it has a chance to decompose, keeping the carbon in the soil. The amount of carbon that can be stored in peatlands is related to the depth of the peat. In places where the peat is very deep, the amount of carbon in the soil may be very high. In other places, waterlogged soils prevent any peat from forming. In some places, the amount of carbon in the soil may vary according to the season. In the summer, when plants are growing, peatlands may release carbon. In the winter, they may take in carbon.
Benefits of using UK peatland carbon credits
The benefits of using UK peatland carbon credits are numerous. A few of these include increased biodiversity and improved landscape, increased water quality and quantity, and reduced flooding. Additionally, UK peatland carbon credits are a compliant, sustainable way of reducing your company’s carbon footprint. If your company has a sustainability plan in place, using UK peatland carbon credits can help you reach your carbon reduction targets in an ethical and sustainable way. By using UK peatland carbon credits, you can make a real difference to the environment. Not only will you reduce your own carbon emissions, but you will also help to protect biodiversity and improve water quality. Peatlands cover about 3% of the land surface of the UK. They are home to a wide variety of species and play an important role in the UK’s ecosystems. About 70% of the UK’s freshwater fish species live in the peatlands.
How do UK peatland carbon credits differ from other offset credits?
UK peatland carbon credits differ from other offset credits in that they are a regulated, verified and legitimate source of carbon credits. When a company purchases carbon credits, they are purchasing a reduction in their own company’s carbon emissions. In the UK, there are two ways to do this: i) by reducing your own emissions; or ii) by offsetting your unavoidable emissions. In the EU, there are a number of different types of projects that qualify, including energy efficiency improvements, renewable energy projects, reforestation, and agricultural projects.
What are the criteria established by the Integrity Council for the Voluntary Carbon Market?
The Council for the Voluntary Carbon Market (the Council) was established in October 2017 as the independent body that regulates the UK’s voluntary carbon market. The Council oversees the operation of 16 Voluntary Carbon Standard (VCS) approved schemes, including UK Peatland Restoration Initiative (UK PRI). All VCS approved schemes must abide by the following criteria: – Environmental integrity: credits must be generated by genuine emissions reduction activities. – Verifiability: the method of crediting must be verifiable and transparent. – Pricing: credits must be priced according to the cost of delivery. – Risk: there must be risk management strategies in place to account for typical carbon credit business risks.
What are the co-benefits and biodiversity gains resulting from peatland restoration?
Peatland restoration will not only provide carbon credits, but will also bring about many other benefits, including improved biodiversity, increased water retention, and reduced flooding. Peatlands are rich and diverse ecosystems, home to many rare species. The UK has 25 species of breeding birds that are dependent on peatlands, such as the bittern, hen harrier, and curlew. Many of these species are threatened with extinction, and the habitat of peatlands plays a vital role in their survival. Peatlands also store and filter water. They can store up to 16 million tonnes of carbon per year, equivalent to 2.4 million tonnes of CO2 per year.
What are the community benefits associated with peatland restoration?
The communities surrounding peatlands benefit in a number of ways from peatland restoration. In particular, the restoration of these areas will help to reduce the prevalence of flooding in the region. This can be extremely beneficial for the many people living in the area of the UK where flooding is a frequent problem. In addition to reducing the risk of flooding, restoring peatlands will also bring many other benefits to the local communities. Peatlands are often areas of great biodiversity that can be great for tourism. By restoring these areas, you can create a new and profitable amenity.
How can UK companies access peatland carbon credits?
To access UK peatland carbon credits, you must be partnered with a project owner. A project owner is responsible for managing the peatland restoration project and delivering the carbon credits. A broker is a company that connects customers with project owners. You can find a project owner and broker by searching the voluntary carbon market. There, you can find a project owner that meets your needs and a broker to help you purchase carbon credits. To ensure that you are buying real and verified carbon credits, it is important that you choose a broker and project owner that is registered with the Council.
What are the costs associated with using peatland carbon credits?
The costs associated with using UK peatland carbon credits depend on a number of factors, including the type of credits you are purchasing and the amount of credits you require. Typically, the cost of UK peatland carbon credits will range from £10 to £20 per tonne of carbon dioxide equivalent avoided. Keep in mind that these costs are for the verified and legitimate carbon credits. There are also many scammers that try to deceive customers. Be sure to carefully vet all potential partners before proceeding in order to avoid being scammed. If you are interested in purchasing UK peatland carbon credits, you need to act soon. There is a limited supply of these credits, and they sell out quickly.
Conclusion – why UK peatland carbon credits should be the go-to for companies offsetting unavoidable emissions.
The health of peatlands is critical to the health of the planet. They are among the most carbon-rich ecosystems and play a critical role in regulating and storing the world’s water supply. When peatlands are damaged, they release this carbon into the atmosphere and cause serious environmental problems. The UK Peatland Restoration Initiative is an innovative effort to restore these valuable ecosystems. When complete, this project will sequester more than 1.8 million tonnes of CO2. This is equivalent to taking more than 400,000 cars off the road. UK peatland carbon credits represent a sustainable and cost-effective way for companies to meet their sustainability goals. They are a long- overlooked resource that is now in high demand. As the demand for these carbon credits increases, the price will rise.
Written by Tim de Rosen, Co-founder, and CEO of ClimaFi