Climate change mitigation and nature conservation strategies are converging to address accelerating biodiversity and species loss, as well as anthropogenic climate change. Our study intervenes in this recent research; here we discuss the critical role of addressing avoided emissions from peatland degradation, which we demonstrate may be one of the most important natural climate solutions available. Our analysis leads us to propose the concept of Carbon Parks as a means to protect these carbon-rich ecosystems. Carbon Parks can complement the Paris Climate Agreement’s global temperature targets and build on recent proposals such as the Global Deal for Nature, which recommends global protection targets that conserve species and secure ecosystem services. While our case study centers on peatlands in the region of southern Patagonia in Chile, the concept of Carbon Parks may be a useful conservation strategy for addressing both biodiversity loss and climate change mitigation in other regions and in other ecosystems.