Restoring peatland can significantly reduce greenhouse gas emissions (GHGs), and provide financial benefits for farmers, according to a new report.
Peatlands are lands on peat soils that comprise of at least 80 per cent organic material. If they are still actively forming new peat they have been named as the most space efficient place for long-term carbon store and sink.
The study was carried out by the EU Carbon-Connects and the EU Care-Peat project. “By preserving, protecting and restoring peatlands we can reduce emissions and revive and essential ecosystem with high values and co-benefits for climate regulation, biodiversity, conservation and human welfare,” the report claimed.
Other benefits, according to the report include a potential carbon credit and blue credit scheme for peatlands which can potentially yield additional income.
A blue credit is a tradable certificate for water-related services provided by sustainable peatland management. The study found that carbon credits are a potentially viable source of income for farmers and other landowners, depending on price.
In Ireland, based on the average cost of €558 for rewetting and monitoring, a restoration project can lead to an income of €377/ha from carbon credits.
LSL News.