Greta Thunberg boycotts Edinburgh Book Festival sponsored by investment firm

Swedish environmental activist Greta Thunberg canceled her participation in the Edinburgh Book Festival on Friday, citing an event sponsor's investments in fossil fuels. “I cannot participate in an event that is sponsored by Baillie Gifford, which invests heavily in fossil fuels,” said the activist, who was to speak on August 13 at the festival, quoted by the organizers.

The 3,000 tickets for the event, titled "it's not too late to change the world", were sold out in less than 24 hours. Denouncing "greenwashing" efforts by the fossil fuel industry, including through the funding of cultural events", she concluded: "I cannot and do not want to be associated with events that accept these kinds of partnerships. “Greenwashing” is a corporate communication strategy consisting in giving oneself an eco-responsible image.

Quoted in the same statement, the investment company Baillie Gifford retorted that only "2%" of its clients' money was invested in companies involved in fossil fuels, against "11% on average for the whole of market". Among them, some have already withdrawn from fossil fuels and “many of them contribute to the transition to clean energies”, assures the company.

While expressing his disappointment, festival director Nick Barley said he "fully respects" Greta Thunberg's decision and shares her view that progress in the fight against global warming is "not enough." ". The festival organizers say they are convinced that “Baillie Gifford is part of the solution to the climate emergency”, presenting the company as “early investors in progressive and positive companies for the climate”.