Coutts & Co.

Climate Impact & Sustainability Data (2021-07 to 2022-07, 2024)

Reporting Period: 2021-07 to 2022-07

Environmental Metrics

Total Carbon Emissions:Not disclosed

Scope 1 Emissions:Not disclosed

Scope 2 Emissions:Not disclosed

Scope 3 Emissions:Not disclosed

Renewable Energy Share:100% (UK and ROI electricity from renewable sources)

Total Energy Consumption:Not disclosed

Water Consumption:Not disclosed

Waste Generated:Not disclosed

Carbon Intensity:Not disclosed

ESG Focus Areas

Environment
Social
Governance

Environmental Achievements

31% reduction in direct carbon emissions (2021 vs 2019)
94% reduction in business travel (2021 vs 2019)
7% reduction in energy use (2021 vs 2020)
24% reduction in paper usage (2021 vs 2019)
18% reduction in waste (2021 vs 2019)
38% reduction in carbon intensity across equity holdings (by year-end 2021 compared to 31 December 2019)

Social Achievements

More than 452 workdays volunteered by colleagues, raising over £192,000 for charity
Support for 10,000 Black Interns, Leadership Through Sport and Business, and UpReach initiatives
Over £350,000 donated to charities through Coutts Crowns program, including £200,000 to the DEC Ukraine Humanitarian Appeal
Launched a green mortgage offering rewarding clients for energy efficiency improvements
Launched a business accelerator program supporting 45 UK entrepreneurs in interactive entertainment

Governance Achievements

Achieved B Corp certification
Amended articles of association to balance profit and purpose
Active member of B Finance
Introduced aspirational B Corp recertification score as a strategic goal

Climate Goals & Targets

Long-term Goals:

Net-zero emissions across managed investments by 2050

Medium-term Goals:

50% carbon reduction on all holdings by end of 2030
50% of discretionary AUM aligned to a net-zero trajectory by 2025, increasing to 70% by 2030
Achieve full gender balance by 2030
Have 14% ethnic minority colleagues in UK top four leadership levels by 2025
Have 3% Black colleagues in UK senior roles by 2025
50% of mortgage book at EPC rating C or above by 2030

Short-term Goals:

25% reduction of carbon intensity (Scope 1 and 2) within all equity holdings by end of 2021 (achieved 38%)
Issue at least £750 million green mortgages by 2024
Support at least 200 UK students by end of 2022

Environmental Challenges

Expanding climate strategy to include entity-level aspirations and tracking
Improving disclosure of environmental and social targets and progress
Increasing transparency of Coutts Board activity
Bringing client and supplier voices on sustainability into the Board

Mitigation Strategies

Working to devise a philanthropy statement to increase client engagement and transparency
Providing access to a free emissions footprinting and tracking tool for clients
Encouraging clients to adopt SBTi framework
Increasing access to Coutts Board meetings for junior management team

Supply Chain Management

Supplier Audits: Above-benchmark supply chain score achieved with EcoVadis

Responsible Procurement

Working with suppliers to improve EcoVadis scores
Introducing minority suppliers via tender process

Climate-Related Risks & Opportunities

Physical Risks

Not disclosed

Transition Risks

Not disclosed

Opportunities

Not disclosed

Reporting Standards

Frameworks Used: B Corp

Certifications: B Corp

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

Not disclosed

Not disclosed

Sustainable Products & Innovation

Green mortgage offering

Awards & Recognition

2022 PAM Positive Impact Award
2022 WealthBriefing ESG Award
Best Bank Diversity and Inclusion Programme – Global Reach at WealthBriefing’s inaugural Wealth for Good Awards (2022)
Best Private Bank Digital Client Communication and Outstanding Mobile Banking Initiative at the Global Private Banker Awards (2022)
Best Bank Sustainability Offering (Investments) – UK Private Banking and Wealth Management (2022)
2021 Princess Royal Training Award

Reporting Period: 2024