Peatland Biodiversity Metrics Take Shape

 

 “We know what the state of nature in Scotland is and we know what we need to do to fix it”, said the Chief Exec of NatureScot recently. Well, what do we need to do? An immediately highlighted priority was ‘land management plans’ for ‘large landholdings’ – something heavily referenced within the Land Reform (Scotland) Bill 2024. An important part of these plans, to unlock subsidy and remain compliant with regulations, could be the enhancement and protection of peatlands.

 

Scotland holds 13% of the world’s blanket bog – an internationally significant resource recently recognised by UNESCO for its global importance. Restoration of degraded peatlands, the 5^th largest carbon emitter in Scotland, is essential to achieve Net Zero targets while protecting this uniquely important habitat. Yet public funding to facilitate peatland restoration is under review and could be cut to a 50% contribution by 2030 (from 100% today). Thus, as has been widely suggested for years, private finance is required to plug the gap. For this to be a realistic proposition, there must be a credible line of sight to reasonable returns. Most private investment into peatland restoration to date has been speculative and directly from landowners themselves, not the finance sector. The Peatland Code has accelerated this appetite to invest however, it remains nascent and financial flows, from the sale of carbon, remain minimal. Something must change. One avenue that could spark the market to life, is biodiversity and it is here that peatlands thrive. From rare dragonflies to specialist bryophytes, critically endangered birds to protected mammals, heathy peatland habitats support a plethora of some of the nation’s most special flora and fauna.

 

The Peatland Code recently closed a consultation on a project that is working to “either quantify the biodiversity benefit of a project or potentially produce both voluntary carbon and biodiversity credits” – increasing project integrity while adding real value. Having selected a reputable methodology as the underlying framework for a possible standard, the consultation set about looking to standardise the required metrics. A first draft of the proposed standard is imminent, and the resulting methodology is expected to be incorporated into the Code during 2025. Whether The Peatland Code choose to ‘bundle’ or ‘stack’ the benefits is yet to be seen. This is a larger quagmire to wade through that, perhaps mercifully, space does not allow for! In the meantime, landowners should give serious thought to collecting relevant baseline data to which change can be measured against in the future.