The Wildfowl and Wetlands Trust (WWT) is working with Bulgarian conservationists on the project.
The authority said 40, 000 wildfowl and wading birds migrated to the protected tidal estuary habitats each year.
Peter passed away in 1989 but his legacy lives on through the work at the Wildfowl and Wetlands Trust.
Swans, ducks and wildfowl that fled the harsh winter in their Arctic encounter freezing conditions at a reserve that straddles Norfolk and Cambridgeshire.
BBC: Welney welcomes wildfowl that fled harsh Arctic weather
The agency says the area, near the Slimbridge Wetland Centre, is of "international importance" for migrating wildfowl, breeding waders, migratory fish and Atlantic eels.
BBC: Work carried out to protect Severn Estuary salt marshes
But their keeper, Malcolm Kerr, who has looked after the wildfowl on the lake for nearly a quarter of a century, is more cynical.
The Great Crane Project is a partnership between the Wildfowl and Wetlands Trust, the Royal Society for the Protection of Birds (RSPB) and Pensthorpe Conservation Trust.
Hundreds of visitors come to the centre in winter to see the swans and wildfowl feeding and to watch the activities of the birds from hides.
BBC: Welney welcomes wildfowl that fled harsh Arctic weather
Bird haven Slimbridge in Gloucestershire, which is also the headquarters of the Wildfowl and Wetlands Trust, and the Dunes Coastal Park in the Outer Hebrides have also been short listed for the Best Environment Project award.
According to his wife Lady Scott, when Peter returned from war, he was very keen to do something to protect threatened species and so it was that in 1946 he founded the Wildfowl and Wetlands Trust in Slimbridge.
There is a vaccine for badgers - the BCG jab, which has been used by a number of wildlife and conservation bodies in England, including the Gloucestershire Wildlife Trust, the RSPB, the Wildfowl and Wetlands Trust and the National Trust.
Peter went on to lead several ornithological expeditions worldwide, popularised the study of wildfowl and wetlands through his television appearances, and his pioneering work in conservation also contributed greatly to the shift in policy of the International Whaling Commission and signing of the Antarctic Treaty.
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