Peat is not a renewable source. Check out Coir. It is some great stuff.
First link is for the soilless and second 2 are an article about coco.

http://www.4hydroponics.com/grow_room/coco.asp

http://www.maximumyield.com/article269.htm
http://www.maximumyield.com/article229.htm

Happy gardening and be good to the earth!