PFI will establish and ensure the management of a national and catchment scale financing system for peatland restoration in Ireland.
| Location | West and North-west of Ireland, Midlands |
| Area | 137,870 hectares of raised and blanket bog |
| Start date | Spring 2021 |
| Lead organisations | University College Dublin, Landscape Finance Lab, National Parks and Wildlife Service |
| Collaborators | Community Wetlands Forum, LIFE-IP Wild Atlantic Nature, Irish Rural Link, Bord na Móna, Coillte, National Treasury Management Agency, European Investment Bank, Dept. Agriculture Fisheries and the Marine, Dept. Environment, Communications and Climate Change, Dept. Finance, Dept. Public Expenditure and Reform, Dept. Housing, Local Government and Heritage, Irish Water, Natural Capital Ireland, ERINN Innovation |
Peatland Finance Ireland
Peatland Finance Ireland (PFI) was established as a legal entity in 2022 with the overall goal of establishing (and ensuring the management of) a national and catchment scale financing system for peatland restoration in Ireland. PFI received initial funding from the National Parks and Wildlife Service (NPWS) of the Department of Housing, Local Government and Heritage, and the Natural Capital Financing Facility (NCFF) of the European Investment Bank (EIB). Peatland Finance Ireland will align the carbon, water and biodiversity agendas with opportunities for communities and regional development. It is engaging a broad range of stakeholders, including public bodies, NGOs, local communities, and businesses.
Peatland Finance Ireland Phases
Phase 1│May - November 2021
Consisted of a five-month technical assistance project from May to November 2021. It demonstrated potential for establishing a financing model for restoring peatlands in Ireland and securing significant carbon and related commercial investment. Conducted on behalf of the NPWS Ireland and the European Investment Bank, the work was undertaken by a consortium led by the Landscape Finance Lab and University College Dublin, with Natural Capital Ireland and a range of other organisations. Read the Phase 1 Baseline Report here.
Phase 2 - PFI 2023│Live
Phase 2 will advance the Phase 1 work to the next stage through the full design of a financing instrument linked to national policy and confirmation of a set of investment actions, with a strong focus on emission reductions as well as community, water and biodiversity co-benefits.
The aim of phase 2 is to establish a national scale financing system for peatland restoration in Ireland. This will provide a framework for integrating land restoration with local economies and broader water management by supporting a strategy for scaling a community-led approach and adopting catchment management as a tool.
Phase 3
This will consist of mobilising the work of Phase 2, maturing the structures and a pipeline for full implementation.
