The principal activity of the Duchy of Cornwall is the management of its land totalling in
England. This includes just over 2% of the county of
Cornwall. The majority of the estate lies elsewhere, with half being on
Dartmoor in
Devon, with other large holdings in
Cornwall,
Herefordshire,
Somerset and almost all of the
Isles of Scilly. Another large portion of its holdings are strips of foreshore and riverbed along the Cornish and Devon coasts. The duchy also has a financial investments portfolio. The income of the Duchy of Cornwall accrues to the
Duke of Cornwall, who is the monarch's eldest child if heir to the throne (and thus generally the
Prince of Wales). The eldest son of the reigning
British monarch inherits possession of the duchy and title of
Duke of Cornwall at birth or when his parent succeeds to the throne, but may not sell assets for personal benefit and has limited rights and income as a minor. If the monarch has no male children, the rights and responsibilities of the duchy belong to the
Crown, and there is no duke. The current duke is
William, Prince of Wales. For the fiscal year ending 31 March 2020, the duchy was valued at £909 million, and annual profit was £22.3 million, a revenue surplus gain of 2.9% from the previous year. The estate reported a reduction in carbon emissions of 56% since 2007 with an aim to be net zero by 2028. ==See also==