This preliminary study aims at identifying the types of peat restoration conducted by the private sector in Indonesia between 2015-2018 and the drivers of their restoration activities. The study also identified the financiers of the assessed major companies operating on peatland and their sustainability policies and commitments. We conducted a comprehensive desk study and selected 9 major plantation companies (7 palm oil and 2 pulp and paper) as well as 7 financiers (international banks) that provide capital for those companies as our samples. The restoration activities conducted by these companies can be categorized into the three approaches used by the Peat Restoration Agency (BRG). Most of these activities are centered around community development which falls into livelihood revitalization (R3), such as the fire-free village program. Based on the assessed corporations sustainability documents, the primary driver of these activities is the 2015 forest fire. Sustainability pledge and certification also appear to be a driver for the companies to conduct restoration. Most financiers require their clients to (1) protect peatland, (2) hold RSPO certification for palm oil companies, (3) enforce "no land preparation by burning" policy, and (4) enforce "no development on High Conservation Value (HCV) and High Carbon Stock (HCS) area". There is an indication that financiers that fund these companies are the real drivers for companies to conduct restoration activities based on their sustainability commitments. Future interviews with companies and their financiers will be conducted to obtain further information and deeper analysis.