Peatlands are wetland ecosystems that occupy 3% of the Earth’s landscape yet store 30% of its soil carbon. Physical disturbance can alter their carbon balance, transforming peatlands from carbon sinks to sources that contribute to global warming and climate change. Sophisticated and long-term monitoring, guided by science-based practice, is essential for their effective management and requires identifying and defining criteria and ecosystem indicators that are easy to recognize, measure, and monitor over time. The main aim of this study is to investigate whether the net CO2 flux of alpine Sphagnum and tropical peatlands could act as an indicator that synthesizes overall ecosystem conditions. The study will use three peatlands with variable site conditions, including degraded and intact peatlands in the Australian Alps and a degraded tropical peatland in Indonesia. Net Ecosystem Exchange (NEE), the balance between total CO2 absorbed through photosynthesis and emitted through respiration of an ecosystem, will be measured using the eddy covariance technique and soil chambers. Organic matter decomposition rate and surface water quality parameters will be measured at each of the selected peatlands to understand the overall peatland condition and its relationships with NEE. The differences expected in these relationships for intact versus degraded and alpine versus tropical peatlands will be outlined in this presentation along with the scientific basis for proposing CO2 flux as a new indicator. Outputs could result in a simple indicator tool that can enable land managers to better understand the current condition of peatlands and support decision-making around the amount of effort and funding required for their future conservation and rehabilitation.