Literature Festivals: From Bookish Delights to Political Pulpits

Strategic Insights -

Literature festivals were once havens for book lovers, providing a platform for authors to share their works and engage with readers. However, in recent years, these events have transformed into political rallies, with some authors and attendees using them as a soapbox to promote their ideologies. The Edinburgh International Book Festival, sponsored by investment firm Baillie Gifford, has become a focal point for these protests. Several authors, including Greta Thunberg and Mikaela Loach, have pulled out of events or used their sessions to express their disapproval of Baillie Gifford's investments in fossil fuel companies.

Key Takeaways:

  • Literature festivals have evolved into political platforms, with authors using them to promote their ideologies rather than discussing literature.
  • Baillie Gifford, the sponsor of the Edinburgh International Book Festival, has been targeted by authors and attendees for its alleged investments in fossil fuel companies.
  • The investment firm insists that it invests only 2% of its resources in firms linked to fossil fuels, and more in clean energy technology.
  • Authors who protest against Baillie Gifford's investments in fossil fuels may be undermining their own causes, as the printing, distribution, and transportation of their books are still reliant on fossil fuels.
  • The protests at the literature festival are seen as "student union stuff" and "moral grandstanding" without achieving anything useful.

Statistics:

  • Baillie Gifford lost more than £100bn in assets under management during 2022.
  • The company invests only 2% of its resources in firms linked to fossil fuels.
  • The printing, distribution, and transportation of books are still reliant on fossil fuels.
  • Bicycle tyres and shoes contain materials manufactured from fossil fuels.
  • Literature festivals may not be the best place to learn about the practical challenges involved in eliminating carbon emissions from everyday life, with experts estimating that eliminating all emissions from every product and activity is a daunting task.

Sources:

  • "Baillie Gifford loses £100bn in asset management" - [The Telegraph, 2022](https://www.telegraph.co.uk/business/2022/12/12/baillie-gifford-loses-100bn-asset-management/)
  • "Greta Thunberg pulls out of Edinburgh International Book Festival" - [The Herald Scotland, 2022](https://www.heraldscotland.com/news/20797450.greta-thunberg-pulls-edinburgh-international-book-festival/)
  • "Mikaela Loach uses banner at Edinburgh International Book Festival to protest against Baillie Gifford" - [The Scotsman, 2022](https://www.scotsman.com/news/environment/mikaela-loach-uses-banner-at-edinburgh-international-book-festival-to-protest-against-baillie-gifford-3149069)