Private bank Coutts is planning a 25% decrease in carbon emissions in its funds and portfolios by the end of next year.

The bank, which highlighted the plans in its 2020 Sustainability Report, incorporates ESG-thinking across the full investment process instead of providing specific offerings.

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So far this year, the bank lowered its carbon footprint by 23% from its Coutts Invest funds.

It targets a 50% carbon emission reduce across its overall holdings by 2030.

Coutts head of Responsible Investing Leslie Gent said: “Accountability for driving change towards a more sustainable planet is something we think is missing from society. To date, there has been a lot of carrot and not much stick and we believe that regulators should harden their stance to help drive real change.”

The bank has excluded thermal coal extraction; thermal coal energy generation; tar sand; arctic oil and gas exploration from its direct investments.

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Coutts head of Asset Management Mohammad Kamal Syed said: “We invest with purpose and integrity, and with a keen focus on sustainability. It’s extremely important that we do this well.

“It’s not enough to simply sit back and do nothing to make it worse. We all have to do something tangible. Defeating climate change, for example, isn’t about what we believe, it’s about what we do.”