A recent investigation by Channel 4 Dispatches, titled “Secret Millions,” has put King Charles and his royal estates in the spotlight, prompting inquiries into their financial dealings.
Buckingham Palace has stepped forward to defend the operations of the Duchy of Cornwall and the Duchy of Lancaster amidst rising concerns surrounding environmental practices.
The documentary, which is set to air tonight, claims that these royal estates have generated approximately $61 million in revenue over the last year.
Critics argue that this income stems from questionable ventures that could have adverse effects on the environment, casting a shadow on the royal family‘s sustainability initiatives.
Among the allegations are claims that the estates are renting out properties with inadequate insulation and engaging in dubious financial agreements.
This has sparked debate about whether such actions are consistent with the royal family’s proclaimed commitment to environmental stewardship.
In response to the accusations, Buckingham Palace has firmly stated that both Duchies operate independently and do not rely on funding from taxpayers.
The Duchy of Lancaster, under King Charles’s management, insists it is entirely self-sustaining, while the Duchy of Cornwall, now overseen by Prince William, maintains its status as a private entity focused on revenue generation.
The inquiry shines a light on possible conflicts of interest, particularly concerning the estates’ involvement in mining and energy projects.
For instance, the Duchy of Cornwall owns several mineral rights across the UK, including areas deemed environmentally sensitive, such as Hingston Down.
Companies are reportedly leasing land from the Duchy for road-building materials, raising concerns about the impact on natural habitats.
Moreover, the Duchy has granted permissions for drilling operations in Cornwall, even in regions previously affected by mining activities.
Meanwhile, the Duchy of Lancaster continues to see profits from wind farm projects, despite King Charles’s earlier commitments to utilize these revenues for the public good rather than simply bolstering royal coffers.
The ongoing leases for energy cables along the Lancashire coastline are projected to yield $34 million over their duration.
These transactions fall under the Crown Estate’s management, which determines the sovereign grant funding the royal family’s official duties.
Critics have also voiced concerns regarding the energy efficiency of rental properties owned by the Duchies.
According to the Channel 4 report, around 14% of properties under the Duchy of Cornwall and 13% under the Duchy of Lancaster fail to meet minimum energy efficiency standards, with some properties rated F or G—the lowest classifications.
Issues like dampness and mold have been linked to these poorly rated homes, leading to health hazards and increased heating expenses for tenants.
One resident lamented, “It gets miserably cold in winter; I can only heat two rooms in my home,” while another pointed out the lack of heating upstairs completely.
In light of these criticisms, a spokesperson for the Duchy of Cornwall noted that Prince William is spearheading a significant transformation of the estate aimed at achieving net-zero emissions by 2032.
Planned improvements include investments in property energy efficiency and enhanced support services for tenants, addressing their needs and collaborating with local organizations to combat homelessness.
The Duchies have also reiterated their commitment to transparency and accountability.
The Duchy of Lancaster reported that more than 87% of its properties have energy performance ratings of E or higher, with efforts underway to improve those that do not meet standards.
Both Duchies regularly publish annual reports detailing their financial outcomes and environmental impacts, which undergo independent reviews and are available to the public.
Continuing the legacy of Queen Elizabeth II, both King Charles and Prince William voluntarily pay taxes on the income generated from these estates.
As the Channel 4 Dispatches documentary airs, it ignites ongoing discussions about the compatibility of the royal family’s financial practices with their environmental responsibilities, prompting a renewed dialogue about royal accountability and sustainable practices.
Read more
