Bundling benefits from peatlands to enable nature recovery

Supervisors:

• Dr Lydia Cole (University of St Andrews)
• Prof Frans de Vries (University of Aberdeen)
• Charlie Davis (Corrour)
• Prof Bert Scholtens (University of St Andrews)
• Dr Iain Matthews (University of St Andrews)

Project Summary:

Aim: To design alternative approaches to funding the recovery of carbon-rich ecosystems in the UK, which: (i) focus on ‘bundled’ metrics for ecosystem health; and, (ii) consider a diversity of public and private funding mechanisms capable of supporting nature positive futures.

Rationale: The voluntary carbon market is expected to be a significant contributor to the restoration of the UK’s damaged peatlands. This market, governed by the UK Peatland Code, is structured to direct private finance to peatlands where there is a qualitative, positive change in peatland condition associated with a quantitative reduction in carbon emissions, demonstrating that an intervention has set the ecosystem on the road to recovery (IUCN UK Peatland Programme). However, full recovery, re-establishing a resilient ecosystem, entails longer-term investment and a focus on nurturing ecological integrity, of which biodiversity forms the central tenet. There is still limited understanding of how plant and animal species assemblages change along the restoration pathway, how we might monitor those changes (using low-cost, scalable methods), and how those measurements could feature in a bundled package of benefits from peatlands. An operational definition of a restored peatland is also lacking. This project will investigate the design of a more holistic investment mechanism to support long-term recovery of peatlands in the UK. 

Objectives:

1. Establishing methods for monitoring recovery: Trial a variety of scalable methods and metrics for accurately monitoring and reporting on change in carbon and biodiversity in peatlands under restoration over time, based on approaches deployed in current ecosystem service market mechanisms and nature recovery schemes in the UK, e.g., UK Peatland Code, UK Government’s Environmental Land Management Scheme, and internationally, e.g., Moor Futures;
2. Understanding patterns of nature recovery: Using methods identified through Obj. 1, establish trajectories of change in response to restoration and habitat maintenance interventions, through quantifying the relationship between carbon emissions and key biodiversity metrics (indicative of peatland health), in peatlands at Corrour at varying stages of restoration;
3. Exploring current mechanisms for funding recovery: Complete a SWOT analysis of different mechanisms designed to incentivise and support nature recovery in the UK and abroad, e.g., Facility for Investment Ready Nature, Peatland Standard for Ireland, Valuta voor Veen in the Netherlands; and,
4. Designing investment packages for peatland management: Building on learnings from Objs. 1-3, design an investment-ready package that bundles positive changes in biodiversity and carbon, which could attract private and public investment in high-integrity peatland restoration initiatives. 

To apply visit: https://netgain.wp.st-andrews.ac.uk/phd-projects/

Student Profile:

Desirable skills/experience/interests:

• Interest and experience in analysing nature restoration policies within the UK and/or EU context, e.g., Biodiversity Net Gain
• Experience of ecological sciences (i.e., an understanding of ecosystem processes and functions) and of field ecology (i.e., carrying out ecological surveys of plant/invertebrate/indicator species)
• Experience of remote sensing or an interest in learning skills
• Interest and experience in nature markets, e.g., carbon markets
• Experience of working in challenging field environments
• Experience/interest in interview techniques, e.g., key stakeholder interviews
• Interest in peatland environments
• Interest in financial investing