Oireachtas Joint and Select Committees

Tuesday, 15 November 2022

Joint Oireachtas Committee on Climate Action

Sequestration and Land Management-Nature Restoration: Discussion

Mr. Niall ? Brolch?in:

A specific question was asked that I can answer. There is a link to a White Paper on this subject in my submission. The countries that are doing well at the moment are Germany - the Moor Futures scheme has sold credits at approximately €80 per tonne, so it is not quite as low as was suggested - and the Netherlands, which has a scheme called Valuta voor Veen - I apologise for my poor pronunciation - which has achieved approximately €70 per tonne. That scheme is up and running. The UK has the Peatland Code whose figures are slightly lower at €20 to €30 per tonne at present, but the UK is being quite conservative. France has recently set up a scheme and, as was correctly pointed out, a European framework will be published imminently. It is quite important that we make a big effort on this because peatland is far more significant in Ireland than it is in many other countries. We are behind the curve and we need to get ahead of it.

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