Peatlands occupy around 12% UK land area and provide over a quarter of the UK’s drinking water. 24% of all UK peatland is situated within National Parks. However, only 22% of peatlands are in a near natural or rewetted condition.
Peatlands in a good condition are important long term carbon stores and sinks, but degraded peatlands emit greenhouse gases. 78% of UK peatlands are degraded and emit an estimated 23 million tonnes of carbon dioxide equivalent per year in total. That equates to roughly 4% of all UK emissions.
The governments of England, Wales and Scotland have each set bold ambitions to restore large areas of peatland to good condition over the next two decades. However, recent estimates put the finance gap between committed government spending and required spending for peatland restoration to be £560 million over a period of 10 years.
Similarly, many of the UK’s National Parks have set ambitious local targets to restore peatlands but new sources of funding at scale are required to deliver this.
How our Peatland Facility Works
Revere’s Peatland Facility aims to accelerate progress towards the Government’s peatland restoration by channelling much needed funding into locally owned peatland restoration projects in the UK’s National Parks.
Revere works with landowners and communities to design and implement peatland restoration projects that seal off greenhouse gas emissions and provide other benefits such as downstream flood risk reduction and water quality improvements.
The projects generate carbon credits accredited by the Peatland Code and independently audited and verified. The credits are sold to mission aligned buyers that meet our rigorous due diligence approach. Revere works with investors to raise the upfront capital required for the peatland restoration.
Peatland Facility Principles
Deliver robust, locally owned peatland restoration projects that are designed with local partners and organisations. We will seek opportunities for land managers of all sizes to restore peatland – from small-scale farmers to large estates.
Revenues from projects will be distributed fairly and transparently between stakeholders. We will deliver social impact for local communities by designing project models to share revenues with local communities and create local jobs.
Peatland ecology is complex. That’s why we work with ecologists to harness scientific and local knowledge to design peatland restoration projects that work.
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