Philanthropists are encouraged to get involved in supporting their local communities in a new report from Coutts.

The wealth managers, in association with New Philanthropy Capital and Community Foundation Network, have released Inspiring Local Philanthropy which is designed to promote and facilitate philanthropists giving in their local areas.

The report, targeted at philanthropists, encourages wealthy donors to look at both long and short-term problems facing communities in Britain, from areas of deprivation being hard hit by public funding cuts to the impact of climate change on coastal communities.

It also provides a step-by-step guide for people considering investing in local communities and groups, from setting up peer networks to how to identify areas of need.

Philanthropists are encouraged to engage with local charities by not just giving money, but through means as varied as social investment, volunteering and co-funding projects with a local grantmaker.

Research by Coutts suggests this is largely already the case. Seventy-nine per cent of philanthropists support local charities, according to a survey of Coutts' clients.