The Old Hall Marshes in Tolleshunt D'Arcy will be part of an innovative scheme which has been awarded funding to help drive private investment and tackle climate change across the UK.

The UK Centre for Ecology and Hydrology (UKCEH) received a £99,931 government grant from the Natural Environment Investment Readiness Fund (NEIRF) to develop a UK Saltmarsh Code which will involve four sites, including the RSPB's marshes in Tolleshunt D'Arcy.

The project will develop scientific and revenue models alongside a voluntary certification scheme for UK projects aiming to attract private investment by selling companies the carbon benefits of saltmarsh restoration.

An RSPB spokesperson said: "At Old Hall Marshes, where we have a nationally significant site of importance for wading birds and waterfowl, this research will be an excellent opportunity to test the relevance and application of nature-based solutions that can support important sites for wildlife that are under critical pressure from climate impacts."

Other sites are Skeffling on the Humber estuary, Arne Moors in Dorset and Steart Marshes in Somerset.

Saltmarshes are vital coastal wetland habitats, which trap and bury carbon at a greater rate than terrestrial habitats. Since the 1800s, vast areas of saltmarsh have been drained to reclaim land.

The scheme comes at a time of growing interest in carbon credits from companies wanting to offset their carbon dioxide emissions. It is hoped that the project will facilitate at least £1 billion of private investment in restoration projects over 25 years, covering 22,000 hectares of habitat.

The project is one of 27 schemes across England that have been awarded almost £400,000 as part of the pioneering £10 million NEIRF to restore kelp forests, create new woodland, deliver natural flood risk management and improve water quality.

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The funding will be used to develop the projects to the point that they can provide a return on investmnet by capturing the value of carbon, water quality, biodiversity and other benefits provided by natural assets.

Revenue streams will be generated from the sale of carbon and biodiversity units, reduced water treatment costs and natural flood management benefits. This will help to create a pipeline of projects for the private sector to invest in, and develop new funding models which can be used elsewhere.

Environment minister Rebecca Pow said: "To tackle the environmental challenges we face from climate change and biodiversity loss, it is crucial that domestic natural environment projects are able to attract private investment alongside support from the public sector.

"Unleashing innovation and growing new sources of finance, such as through the Natural Environment Investment Readiness Fund, are fundamental for delivering nature recovery and developing nature-based solutions to achieve net zero carbon emissions by 2050."

Subject to confirmation, the Environment Agency and Defra are planning to launch a further application round later this year.

You can find out more about the project using the link here.