Authors Stage Walkout at Edinburgh International Book Festival in Climate Protests

Strategic Insights -

Climate activist Mikaela Loach and fellow authors staged a walkout at the Edinburgh International Book Festival, protesting the event's ties to investment management firm Baillie Gifford, which they accuse of "greenwashing" due to its investments in fossil fuel companies. The move follows a publicized dispute between the festival and Greta Thunberg, who pulled out of a planned appearance over similar concerns. Meanwhile, over 50 authors have signed an open letter urging the festival to find alternative sponsors.

Key Takeaways:

  • More than 50 authors and event chairs have signed an open letter demanding the Edinburgh International Book Festival to find alternative sponsors to Baillie Gifford if the investment management firm does not divest its billions in cash from fossil fuel investments.
  • Climate activist Mikaela Loach and other authors staged a walkout at the Edinburgh International Book Festival, protesting the event's ties to Baillie Gifford, which they accuse of investing in companies that make money from fossil fuels.
  • The investment management firm Baillie Gifford claims to invest just two per cent of its resources in firms linked to fossil fuels and more in firms developing clean energy technology.
  • Greta Thunberg pulled out of a planned appearance at the book festival in protest at the event's links with Baillie Gifford, an Edinburgh-based global investment management firm.
  • The company has £5 billion of investments in the fossil fuel industry, according to climate activist Mikaela Loach.

Statistics:

  • 50+ authors and event chairs have signed an open letter to the Edinburgh International Book Festival.
  • 2% of Baillie Gifford's resources are invested in firms linked to fossil fuels.
  • £5 billion: the amount of investments Baillie Gifford has in the fossil fuel industry.

Sources:

  • The Scotsman
  • The Guardian (reference to Greta Thunberg pulling out)
  • AFP (credit image)
  • UNPIXS (credit image)
  • Edinburgh International Book Festival (official website and statement)