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Tuesday, April 23, 2024

Crown Estate Delivers £44m for Public Spending 

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Tens of millions of pounds have been generated for public spending and billions of pounds are set to be invested in Scottish offshore wind, Crown Estate Scotland’s latest annual report states. 

In addition to continuing significant financial returns for public spending, the 2020-21 Annual Report & Accounts outlines new ways which have been created for communities to benefit from the land and property managed by Crown Estate Scotland. 

Highlights from the 2020-21 annual report include:  

£11.5m profit paid to the Scottish Government for public spending, bringing the total since Crown Estate Scotland was set up in 2017 to £44m  

Launch of Scotland’s first offshore wind leasing round for a decade, ScotWind Leasing. Representing a major step forward in delivering Scotland’s net zero targets, Scotwind is set to attract up to £8bn inward investment  

The launch of the Sustainable Communities Fund, which will deliver £850k over three years to support community-led regeneration and sustainable development in coastal and rural areas.  

Completed the purchase of ZeroFour, a 123-acre commercial development site near Montrose, which will be designed to support clean, green economic growth  

Published our Climate Change Action Plan with a commitment to reduce our greenhouse gas emissions and, importantly, set out how we will work with partners to help reduce emissions across Scotland as a whole.  

Simon Hodge, Chief Executive of Crown Estate Scotland, said:

“2020-21 saw communities across Scotland face the extraordinary challenges of the pandemic.

“As we build a green economic recovery, this report celebrates the achievements of communities, businesses, and our team in generating vital public funds as well as social and environmental benefits. 

“Our work covers a surprising variety of sectors, industries and settings.

“Whether it’s unleashing the potential of our seas to revolutionise energy, helping young families get their first opportunity in farming, or providing funds for community-led projects, we’re playing a growing role in building a prosperous net zero Scotland.”  

The full Crown Estate Scotland Annual Report and Accounts 2020-21 is here. 

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