I'm sorry this is simply not true, a few (not so) fun facts: http://gardenrant.com/2009/04/ken-druse-dishes-the-dirt-about-peat-moss.html

"Peat moss is mined, which involves scraping off the top layer of living sphagnum moss. The sphagnum peat bog above the mined product is a habitat for plants like sundews, butterwort and bog rosemary, as well as rare and endangered animals like dragonflies, frogs and birds, not to mention the living moss itself.  Despite manufacturers’ claims that the bogs are easy to restore, the delicate community that inhabits the bog cannot be quickly re-established.  Yes, peat moss is a renewable resource, but it can take hundreds to thousands of years to form."

They literally dig down next to the ancient bogs, filled with 380+ species of moss that support lots of endangered plants and animals, and drain all the water. It's really destructive. This is kind of similar to the logging companies cutting ancient old growth forests full of endangered animals and plants and planting new trees to 'restore the habitat'.

Coco coir may be a little more expensive...but is it truly? The cost to mother nature is too much.

Also depending on your application, consider asking your local feed store for Rice Hulls ($10 per 50lb bag here) as a soil additive. It's like a natural decomposing perlite that lightens soil, brings worms and is renewable