RDE409 - Marine Net Gain market analysis and economic data (NZ33)

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£0

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  • Research and development consultancy services

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  • award

Submission Deadline

1 year ago

Published

1 year ago

Description

To gather economic data and information and report on a range of factors that will influence 
policy design and initial understanding on the supply and demand of a marine net gain 
market. This includes;
1. Collating information on available methods/techniques for achieving marine net gain 
(utilising existing evidence sources to develop list that can be used to for cost 
information analysis)
2. Collecting data and information on the costs of delivering the MNG intervention 
(summarised from 1), considering the full cost profile (e.g., capex, opex and 
lifecycle), and maintenance costs. Working from examples, case studies and expert 
input to identify the range of costs to implement key MNG measures. 
3. Collecting information from marine stakeholders to investigate the motivation and 
resources to help marine biodiversity and invest in generating MNG supply. This will 
need to explore the opportunities for innovation, existing and developing voluntary 
approaches and pilots. Understanding collaboration and funding opportunities. 
4. Estimating future trends in marine infrastructure/development in scope of MNG that 
will be driving demand, including location, scale and emerging technologies. This 
should be based on historical trend analysis and current commitments, it also should 
explore what can be done to build on existing work by ABPmer, Strategic Task and 
Finish Group and The Crown Estate Whole of Seabed approach. It also should be 
supported with contextual economic information for the marine industries, in 
particular profit, capex, opex etc. This will need to consider all development types in 
scope for MNG, but also consider how to account for delineation in developments 
(or proportion of developments) already covered by BNG in the intertidal. 

The contract was awarded by DEFRA.

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Capturing transitional changes in GHG fluxes following peat restoration

There is approximately 1,420,000 hectares of peat in England, with deep peat accounting for approximately 680,000 hectares. However, the majority of our deep peat is degraded, damaged and dried out, with only 13% of deep peat remaining in a near natural state. As a result, peatlands in England emit approximately 8 million tonnes of carbon dioxide equivalent per year, about 2% of England's total greenhouse gas (GHG) emissions. There is an urgent need to re-wet peatlands to abate these GHG emissions to meet our net zero targets. In Carbon Budget 7, the Climate Change Committee recommends that by 2040, peatland restoration should represent over 50% of the emissions savings in land use, and 17% of the savings in the agriculture and land use sector. Peatland restoration targets have been set in the 2023 Environmental Improvement Plan (EIP), with an aim to restore 280,000 hectares by 2050. When peat is restored or re-wet, it moves from a degraded condition category to a restored or re-wet condition category in the UK National GHG Inventory using an IPCC Tier 2 methodology. This move is treated as a step-change without considering any transition between the two steady states. However, it has been hypothesised that this methodology is failing to consider a significant transitional removal of CO2 when a heavily degraded peat is restored. Thus, the CO2 sequestration potential of peat restoration may have been significantly underestimated. To date, the abatement potential of peat restoration has focused only on avoided emissions, however, the potential transitional removal of CO2 could make peat restoration a significant net greenhouse gas removal (GGR), which would be a game changer for attracting carbon finance. The report by Evans et al (2022) on ‘Aligning the Peatland Code with the UK Peatland Inventory’, proposes a model for capturing transitional changes in GHG fluxes post-restoration for CO2. However, this model needs to be refined and validated before it can be used to support investment in peat restoration or to understand the transitional removal of CO2 and its contribution to emissions savings. Therefore, research is required to refine and validate the model approach and to establish the criteria and method for how transitional CO2 uptake could be applied within the National GHG inventory and the Peatland Code.

Katy Reed

Published 1 day ago

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