A carbon credit facility has been launched to channel private investment to protect peatlands in the UK’s 15 National Parks to increase carbon sequestration. The National Parks, which contain a quarter of UK peatlands, are partnering with Palladium, an advisory and management company, and Respira, an impact-driven carbon finance business. Proceeds from the credits sold to financial institutions and corporates will be used to support existing landowners and communities to develop nature-positive land management practices. Almost four fifths of UK peatlands are currently degraded, emitting around 23 million tonnes of CO2. Revere and Respira are working with landowners in the Cairngorms with a view to issuing the first carbon credits under the facility this year. “This partnership allows us to say [to farmers and landsowners], ‘we guarantee you a floor price if you transform a parcel of your land into a space for nature restoration and we will share increases in the value of the carbon with you as well, rather than being completely exposed to market volatility’,” said Andrew Sutherland, Head of Nature-based Solutions at Palladium.
According to a report from @GFIgreen, an estimated GBP 56 billion in financing over the next 10 years will be required to secure key nature-related outcomes in the UK, such as #biodiversity protection & restoration. The free market will play an important role in closing the gap.
— Palladium (@PalladiumImpact) October 13, 2022