Investing in nature: Developing ecosystem service markets for peatland restoration

Bonn, A. and Reed, M.S. and Evans, C.D. and Joosten, H. and Bain, C. and Farmer, J. and Emmer, I. and Couwenberg, J. and Moxey, A. and Artz, R. and Tanneberger, F. and von Unger, M. and Smyth, M.-A. and Birnie, D. (2014) Investing in nature: Developing ecosystem service markets for peatland restoration. Ecosystem Services, 9. pp. 54-65. ISSN 22120416 (ISSN)

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Abstract

To meet the challenge of proactive ecosystem-based climate mitigation and adaptation, new sources of funding are needed. Peatlands provide the most efficient global store of terrestrial carbon. Degraded peatlands, however, contribute disproportionally to global greenhouse gas (GHG) emissions, with approximately 25% of all CO2 emissions from the land use sector, while restoration can be cost-effective. Peatland restoration therefore provides a newopportunity for investing in ecosystem-based mitigation through the development of carbon markets. Set in the international policy and carbon market context, this paper demonstrates the necessary scientific evidence and policy frameworks needed to develop ecosystem service markets for peatland restoration. Using the UK and NE Germany as case studies, we outline the climate change mitigation potential of peatlands and how changes in GHG emissions after restoration may be measured. We report on market demand research in carbon market investments that provide sponsors with quantification and officially certified recognition of the climate and other co-benefits. Building on this, we develop the necessary requirements for developing regional carbon markets to fund peatland restoration. While this paper focuses on the UK and German context, it draws on international experience, and is likely to be directly applicable across peatlands in Europe and North America. © 2014 The Authors.

Item Type: Article
Uncontrolled Keywords: Carbon markets, Corporate social responsibility, Ecosystem based mitigation and adaptation, Payments for ecosystem services, Peatland, Restoration
Subjects: D700 Agricultural Sciences
Divisions: UoA Collections > UoA16: Architecture, Built Environment and Planning
Faculty of Computing, Engineering and the Built Environment
Faculty of Computing, Engineering and the Built Environment > School of Engineering and the Built Environment
Faculty of Computing, Engineering and the Built Environment > School of Engineering and the Built Environment > Resilient Environments
Depositing User: Yasser Nawaz
Date Deposited: 18 Jul 2016 10:42
Last Modified: 18 Jul 2016 10:42
URI: http://www.open-access.bcu.ac.uk/id/eprint/1848

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