Greta Thunberg has chosen not to participate in an international book festival, where she was scheduled to discuss her recent book on climate change. This decision was made due to her concerns about “greenwashing” by the festival’s main sponsor. Greta Thunberg mentioned in a statement that she could not support the Edinburgh International Book Festival, which is set to take place from August 12 to 28, because the festival is sponsored by Baillie Gifford, an investment firm that heavily invests in the fossil fuel industry, according to the BBC. She believes that by associating with such sponsorship, she would be indirectly supporting the fossil fuel industry’s efforts to maintain their social license to operate, including through sponsoring cultural events.
Greta Thunberg’s decision to withdraw from the book festival comes in the wake of a report by the investigative news site The Ferret, which revealed that Baillie Gifford had invested up to $6.4 billion in companies that profit from fossil fuels at the end of last year. Baillie Gifford, based in Edinburgh and a sponsor of the book festival for nearly two decades, disputed Greta Thunberg’s portrayal of their investments. They stated that only 2% of their clients’ funds are invested in companies with fossil fuel-related business, compared to a market average of 11%. They also mentioned that 5% of their clients’ money is invested in companies solely dedicated to developing clean energy solutions.
The festival director, Nick Barley, defended Baillie Gifford, emphasizing their positive contribution to addressing the climate emergency. He described them as early investors in progressive climate-positive companies, providing vital funds for their growth, as reported by The Guardian. While expressing disappointment at Greta Thunberg’s decision, he respected it. Barley also apologized to the “hundreds of young climate campaigners” who had been invited to Thunberg’s speaking engagement at the Edinburgh Playhouse, stating that ticket refunds would be arranged. Thunberg was scheduled to address an audience of up to 3,000 individuals. (Notably, she was recently fined for participating in a protest against fossil fuels.)
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