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Development of a monitoring protocol and financial modelling to enable quantification and valuation of carbon impacts of peatland restoration - NR0165

Description
The pilot phase of the UK Peatland Code, which is led by the International Union for the Conservation of Nature’s (IUCN’s) Peatland Programme, was launched by Defra’s natural environment minister in September 2013. Defra, Natural England and Forestry Commission are playing an active role in the steering group for the pilot Code, along with the Devolved Administrations. The overall aim of the research is to support the quantification and valuation of carbon-based peatland restoration in order to facilitate business investment through the new UK Peatland Code. The outputs of this R&D project will directly support the implementation and the evaluation of the pilot Code.
Objective
1. Build on existing work on estimating peatland carbon flux metrics to develop, test and refine a practical protocol that can be used by projects which invest in peatland restoration under the pilot Peatland Carbon Code.
2. Undertake evidence-based financial analysis of the various life-cycle costs associated with investing in peatland restoration
3. Assess the application of these two work packages for the development of national ecosystem and carbon accounts for peatland.
This work package was published as a stand-alone publication in March 2015 (see below)
4. [project extension] Scope and develop a metric to quantify the potential biodiversity benefits of peatland restoration projects under the Peatland Code
Project Documents
• FRP - Final Report : Peatland Code metrics Final Report for publication   (5215k)
• OTH - Other : Final Peatland Carbon Project Feasibility Tool for publication   (148k)
• SCO - Scoping Study : Peatland Accounts Scoping Report March 2015   (597k)
Time-Scale and Cost
From: 2014

To: 2015

Cost: £95,881
Contractor / Funded Organisations
Crichton Carbon Centre
Keywords
Economic Research