Unlocking private sector action for peatlands

Author: admin   |   May 17, 2023

Peatlands make up only three percent of the world’s surface but hold 20 percent of the world’s stocks of soil carbon. But over 15 percent of the peatlands have been drained for other uses. On 18 May, the Innovation Lab is holding a meeting in London, United Kingdom, to change the current trends.

The meeting, titled Unlocking Action for Peatlands, aims to accelerate private sector investment and action for peatland conservation and restoration.

Engagement with the private sector is a top priority of the G20, whose ambition is a 50 percent reduction in degraded land by 2040.

The Initiative is both supporting the event and the participation of its experts: Prof Emeritus Olof Lindén, World Maritime University, plant ecologist Professor Nick Leimu-Brown and Ms. Paula Padrino Vilela of the G20 Global Land Initiative Coordination Office at the United Nations Convention to Combat Desertification.

Participants at the Innovative Lab event will identify actionable solutions and explore the potential of peatlands as a nature-based solution.

The objectives of the meeting include:

  • increasing private sector investment,
  • examining the private-sector perspective on peatland projects,
  • unlocking capital and resources, and
  • fostering collaboration among stakeholders to generate innovative solutions.

The Innovation Lab is built on the momentum generated by the Breakthrough Lab at UNFCCC COP 27. It focuses on unlocking financial resources to support peatland conservation and restoration.

The event is jointly organized by Climate Catalyst, the Climate Champions Team, and the UNEP-led Global Peatlands Initiative.

Read more

Image courtesy: UNEP