Investors and scientists are working to restore a 23-square-mile (60-square-kilometer) area of peatland in North Carolina’s Inner Banks. This project aims to reduce the release of carbon dioxide, a major contributor to climate change, and revive the local ecosystem. Decades ago, ditches were dug to support an abandoned farming project, which drained the water from the peat — a type of partially decayed organic matter that can be up to 15 feet (4.6 meters) deep. This drainage has made the area more prone to drought and wildfires, altered native habitats, and led to the release of 130,000 tons of carbon dioxide annually. Peatlands are ecologically significant despite covering only about 3% of the Earth’s land surface. They store roughly one-third of the planet’s carbon dioxide, more than all forests combined. However, when they are damaged or burned, they become a major source of greenhouse gases, contributing about 6% of the global total each year. In healthy peatlands, decomposing plant matter is trapped in a waterlogged, oxygen-poor environment, which limits the release of carbon dioxide. At the same time, surface plants absorb carbon from the atmosphere. Peatlands also store about 10% of the world’s fresh water, help control floods, reduce wildfire risks, and support diverse wildlife. According to a 2025 study by The Society for Conservation Biology, two-thirds of temperate peatlands — mostly in Europe and the United States — have been dewatered for agriculture, mining, and other activities. About 45% of tropical peatlands have also been disturbed. In contrast, boreal peatlands in colder regions like Canada and Russia remain mostly intact but are increasingly threatened by climate change, thawing permafrost, and industrial development. When saturated, peatlands are nearly fireproof, with only the surface vegetation and a thin layer of peat burning. This process can actually help regenerate the ecosystem by releasing nutrients and creating biochar. However, when dry, peatlands can burn underground for weeks or months, destroying even the saturated layers and releasing massive amounts of carbon dioxide. In North Carolina, 11,000 miles (17,702 kilometers) of canals drain peatlands, directing water into coastal estuaries. The peatlands in this region, and along the Eastern Seaboard, are among the most endangered in the world. Colorado-based Pantheon Regeneration plans to restore its property by blocking the ditches to maintain a stable water level and significantly reduce carbon dioxide emissions. The company will also remove invasive species and replant native vegetation such as grasses and flowers. Pantheon intends to sell carbon credits — financial incentives for reducing greenhouse gas emissions — to tech companies and other corporations seeking to offset their own emissions. The revenue will be used to restore and preserve a million acres of peatland across the eastern United States over the next decade.