Par Equity and Aviva plan to capture 1.4 million tonnes of carbon with new scheme

Par Equity and Aviva Investors have announced plans for a woodland creation and peatland restoration scheme in the North East of Scotland, aiming to capture more than 1.4 million tonnes of carbon dioxide.

The fund managers have partnered to establish an investment vehicle which has acquired 6,300 hectares of moorland in the Glen Dye area of West Aberdeenshire.

Following public and statutory consultations, applications will be made to undertake peatland restoration work across around 1,800 hectares and new planting for more than 3,000 hectares, including up to 1,000 hectares of productive conifer and 2,000 hectares of native woodland.

The project will be designed, implemented and managed by Scottish Woodlands over five years.

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