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Peatlands are wetland ecosystems that accumulate dead organic matter (i.e., peat) when plant litter production outpaces peat decay, usually under conditions of frequent or continuous waterlogging. Collectively, global peatlands store vast amounts of carbon (C), equaling if not exceeding the amount of C in the Earth's vegetation; they also encompass a remarkable diversity of forms, from the frozen palsa mires of the northern subarctic to the lush swamp forests of the tropics, each with their own characteristic range of fauna and flora. In this review we explain what peatlands are, how they form, and the contribution that peatland science can make to our understanding of global change. We explore the variety in formation, shape, vegetation type, and chemistry of peatlands across the globe and stress the fundamental features that are common to all peat-forming ecosystems. We consider the impacts that past, present …