PFI 2024

Overview

Phase 2 will finalise the design of the financial instruments and actions that will enable investors to create a lasting impact on both restoring peatlands and boosting local economies. This phase will also investigate possible strategies for decarbonisation of agriculture in peat areas. 

A phased approach is envisaged, with a growing pipeline of different peat landscapes in Ireland, starting with more accessible land and avoiding sensitive transfers of land ownership. A move from carbon finance opportunities towards incorporating wider ecosystem benefit streams, in accordance with gradual development and refinement of standards for nature restoration, including peatlands, is envisaged.  Importantly, these latter stages will integrate local benefit, providing communities with otherwise inaccessible seed capital for restoration.

Structure

The following structure integrates five mutually reinforcing components:  

  1. Coordination.  A governance and consultation framework and learning platform.  

  2. Standards. An Irish peatland restoration standard that rewards carbon, biodiversity and other impacts, feeding into the development of broader standards for Irish landscape restoration.  

  3. Monitoring. A system for monitoring and verification of restoration results on different peat landscape types, within the context of an evolving national Green House Gas (GHG) inventory.  

  4. Economic and funding model. Integration of carbon offsets, carbon taxation and other policy-related funding streams to optimise carbon sequestration potential and co-benefits for biodiversity and communities.  

  5. Finance. A part-revolving instrument for repayable finance, based on integrated funding streams, for accelerated preparation and implementation of landscape restoration.  

Outputs

  • PFI economic and funding model

  • Roadmap and Technical Assistance scope

  • A formal agreement signed with key stakeholders to engage in Peatland Finance Ireland

  • Report identifying and describing potential restoration sites and project pathways in collaboration with sector leaders

Get Involved

There are always exciting events taking place in the peatland community in Ireland.

Here we share events that we are organising, participating in, or just find interesting!

Are you organising a peatland event that could be of interest to communities, researchers or investors? Get in touch to be featured!