Moors for the Future Partnership is set to deliver its most ambitious peatland conservation programme to date, bringing benefits to investors, nature and the public at a trailblazing scale. Thanks to natural capital investment of up to £25 million from a collective of private finance partners, the Peak District and South Pennine moors will benefit significantly from a five-year peatland restoration plan.
Severn Trent, United Utilities and Yorkshire Water are part of the partnership investing millions in peatland restoration, with the aim of improving water quality, increasing wildfire resilience and reducing risk of flooding in towns and highway infrastructure in areas of Derbyshire, West and South Yorkshire. This comes alongside additional investment from other partners such as National Highways, National Trust and RSPB. Locations for the work include moorlands near to Sheffield, Buxton, Glossop and Halifax.
Since the Industrial Revolution, the moorlands of the Peak District and South Pennines have suffered from the legacy of centuries of pollution from the coal-fired factories that once surrounded them. These important landscapes are gradually being restored, thanks to Moors for the Future Partnership working to reverse this damage. Restoration works have achieved great improvements in the last 23 years, and there is still work to be done to ensure these habitats are resilient to drought and severe heavy downpours of rain. After 23 years, and with over 250 square kilometres of blanket bog restored and £50m raised to date, the Partnership is now set to deliver the highest five-year level of investment yet into the region’s peatlands. This latest project is called Moor Resilience 2030.
The £25 million green finance investment is part of an even wider programme which will ensure a boost for crucial ecosystem services provided by peatlands, such as water storage, increased water quality and biodiversity. This investment is significant in that it is not grant- or government-funded, rather it is linked to the water companies’ upcoming Asset Management Plan (AMP), known in the water industry as AMP8. This five-year period, set by Ofwat, mandates performance targets and investment in capital assets, including natural assets such as peatlands. As part of their responsibilities, Severn Trent, United Utilities and Yorkshire Water have invested significant sums in Moors for the Future Partnership’s work in recognition of the multiple benefits it can bring for the companies and their customers.
The moorland landscapes of the Peak District and South Pennines contain globally rare peatlands, including blanket bog habitats. These habitats are amongst the most important the UK has to offer, with 10–15% of the world’s blanket bog found here, and a quarter of these found in England. They are globally rare and store 580 million tonnes of carbon worldwide. Peat is the single biggest store of carbon in the UK, locking in the equivalent of 20 years of all UK CO2 emissions and keeping it out of the atmosphere, a powerful tool in tackling climate change. Healthy moors provide good quality drinking water, with 70% of the UK’s drinking water coming from upland landscapes. Moorland restoration work also helps to reduce the risk of flooding to homes, businesses and road infrastructure in nearby communities. Moorland wildlife species such as curlew, mountain hares and short-eared owls will benefit from habitat restoration.
The combined investment of up to £25 million provides a welcome uplift to the rural economy through employment of contractors and services. The prospect of long-term financing brings a possibility of rural business growth and positive economic prospects for landowners and farmers.
Matt Scott-Campbell, Partnership Manager at Moors for the Future Partnership said: “The Partnership enters this project with a great sense of shared optimism. After 20+ years of successful Partnership working with blended finance we have together secured an unprecedented level of private finance, demonstrating what is possible when nature is recognised as vital national infrastructure. Working in partnership, with strongly aligned values and shared outcomes, is a cost -effective way to restore nature and realise the huge potential of multiple co-benefits that result from moorland restoration and healthy peatlands. This level of investment ensures that the Partnership can continue to make progress at an increasing pace towards the achievement of our vision through cutting edge conservation backed up by strong science and supported by proactive engagement with the surrounding communities to cherish, value and protect these amazing habitats.”
James Airton, Estates and Land Manager for United Utilities said: “We are committed to investing in better water quality, biodiversity and natural flood management to benefit our customers and local communities. We are delighted to be working with Moors for the Future Partnership to achieve our shared vision over the next five years.”
Carol Prenton, Lead SSSI and Portfolio Surveyor for Yorkshire Water, said: We are pleased to continue our work with Moors for the Future and build on almost 20 years of moorland restoration works and flood resilience. This represents our largest investment to date in natural infrastructure and reflects our commitment to do what’s right for our customers and right for the environment. This next phase of investment will bring additional benefits such as enhanced biodiversity and improved carbon capture.”