Peatlands in Scotland play a crucial role in the fight against climate change, yet they are in desperate need of funding for restoration.
Experts have highlighted the importance of restoring degraded peatlands as a highly effective tool for reducing carbon emissions and combating global warming. In fact, the potential benefits of peatland restoration in terms of emission reduction are said to be comparable to those of decarbonizing all residential buildings in Scotland.
Despite this, as the BBC reports, it seems that peatland restoration is not receiving the recognition and investment it deserves.
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In an attempt to address this problem, a coalition of businesses and non-profit organizations has sent a letter to the Science-Based Targets initiative (SBTi), stating that decision is impeding the flow of private funding to support peatlands restoration projects in Scotland.
The initiative is being accused of hindering global initiatives to restore peatlands and promoting a misleading message to investors that peatland restoration is not a valid solution to address the climate emergency. In the letter, they are urged to permit the use of peatland restoration as a means to offset unavoidable emissions.
One of the signatories in the letter is the UK Peatland Programme of the International Union for the Conservation of Nature (IUCN). Dr. Renée Kerkvliet-Hermans, peatland code manager, highlights that approximately 80% of the UK’s peatlands are in a degraded state, emitting more carbon annually than the carbon being absorbed by all of the country’s trees and forests.
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The SBTi, which collaborates with approximately 5,000 companies worldwide, such as Tesco, Kellogg’s, and the BBC, assists businesses in moving towards carbon neutrality. They provide guidance on decreasing greenhouse gas emissions and purchasing carbon credits to support projects that offset any remaining emissions, primarily through tree planting.
On their end, the SBTi said their main goal is to motivate companies to prevent and decrease greenhouse gas emissions initially, rather than focusing on offsetting remaining emissions.
“We also strongly encourage and enable companies to restore natural ecosystems, including peatlands,” they share.
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