Some of the world’s biggest tech companies have committed to giving €3m to rewet between 400ha and 450ha across the country, according to Peatland Finance Ireland (PFI).

The group, which is supported by the National Parks and Wildlife Service (NPWS), announced what it called a “landmark” deal with Google, Meta and Microsoft.

PFI said it will facilitate the fund through the Bonneville Environmental Foundation (BEF) and Agua Segura.

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The rewetting will begin with a pilot site in the Wicklow Mountains special area of conservation (SAC), with PFI adding that the monies will be used to rewet at least one major site.

The boundaries of the restoration site or sites under this agreement will be confirmed later in 2025, with ecological assessments and implementation planning now under way.

PFI said the fund will provide long-term climate, water and biodiversity benefits that is backed by third-party verification under the Irish peatland standard.

Benefits

It added that it will create additional benefits for local communities, including improved water quality and more resilient landscapes.

Dr Shane Mc Guinness of PFI said the investment shows growing international recognition of Ireland’s restoration potential.

“Peatlands are one of Ireland’s most important ecosystems, and their restoration is a breakthrough opportunity to cut emissions and protect biodiversity,” he added.

This funding commitment is in addition to earlier support from the Amazon Right Now Climate Fund.

Projects will be validated under the Irish peatland standard, developed with the support of the European Investment Bank, NPWS, Department of Agriculture and Department of the Environment.