The main sponsor of the Edinburgh book festival – which will feature an event with Greta Thunberg – has billions invested in firms that profit from fossil fuels, The Ferret has found.
The asset manager, Baillie Gifford, is the lead sponsor of this year’s Edinburgh International Book Festival, which runs from 12 to 28 August.
Based on figures released in its annual climate report, The Ferret calculated that Baillie Gifford – which has its headquarters in Edinburgh – had up to £5bn invested in companies which make money from the oil, coal or gas sectors at the end of 2022.
The burning of such fossil fuels is the leading cause of the climate crisis.
Thunberg is set to appear at the festival to discuss her book about climate change. In January she accused investors in fossil fuels of being at “the very core” of the climate emergency and of throwing “people under the bus for their own gain”.
Climate campaigners told The Ferret it was time for cultural events to “step up the scrutiny” of their sponsors and to make sure they are not “bankrolling Big Oil and those fueling the climate crisis”.
