Moray Council have approved funding for consultancy work on a Renewables Income Fund Report to maximise local income associated with renewable energy.

In June 2019, Moray Council declared a climate change emergency and committed to becoming a carbon neutral region by 2030. Currently, a significant amount of the profits made by energy companies operating within Moray flows out-with the region.

Moray Council believes that the benefits from the regions natural resources should be re-invested into our communities and infrastructure. As demand changes for carbon offset and peat preservation, our communities should benefit directly from the abundance of renewable energy flowing through Moray.

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The Highlands and Islands Regional Economic Partnership (HIREP) recently considered a paper from Highland Council on a proposal to develop the case for a Renewable Income Fund which will see greater benefit passing from renewable schemes into the region.

Following consideration of the proposal, the Highlands and Islands Regional Economic Partnership determined it was a common issue across the region and greater benefit would be achieved adopting a collaborative approach.

Moray Council's Head of Economic Growth and Development, Jim Grant, said: "The development of a Renewables Income Fund would ensure the benefits from our natural resources would be re-invested into, and enjoyed by, our communities.

"We look forward to working closely with the Highlands and Islands Regional Economic Partnership to identify ways the region can benefit directly from the renewables schemes that currently profit from the vast natural resources within Moray."