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Investing in nature: developing ecosystem service markets for peatland restoration

Bonn, Aletta; Reed, Mark S.; Evans, Chris D.; Joosten, Hans; Bain, Clifton; Farmer, Jenny; Emmer, Igino; Couwenberg, John; Moxey, Andrew; Artz, Rebekka; Tanneberger, Franziska; von Unger, Moritz; Smyth, Mary-Ann; Birnie, Dick. 2014 Investing in nature: developing ecosystem service markets for peatland restoration. Ecosystem Services, 9. 54-65. 10.1016/j.ecoser.2014.06.011

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Abstract/Summary

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.

Item Type: Publication - Article
Digital Object Identifier (DOI): 10.1016/j.ecoser.2014.06.011
CEH Sections: Emmett
ISSN: 2212-0416
Additional Information. Not used in RCUK Gateway to Research.: Open Access paper - Official URL link provides full text
NORA Subject Terms: Ecology and Environment
Economics
Agriculture and Soil Science
Date made live: 01 Dec 2014 14:31 +0 (UTC)
URI: http://nora.nerc.ac.uk/id/eprint/508944

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