Thunberg backs out of festival appearance due to sponsor investments
Greta Thunberg, a prominent advocate for environmental issues, has decided to cancel her participation at the well-known Edinburgh International Book Festival. Thunberg criticizes one of the sponsors of the event for engaging in "greenwashing", a practice that she deems insincere.
Ms Thunberg, a 20-year-old activist, had originally planned to be a speaker at an event scheduled for August 13th. However, she has made the decision to withdraw from the event as a way of expressing her objection to the event's sponsors, Baillie Gifford. Ms Thunberg argues that this investment management company is involved in significant investments in fossil fuels.
The company, nevertheless, denied the allegation, stating that a mere 2% of its customers' funds were allocated to that particular industry.
We regret to inform you that Greta Thunberg's planned gathering, scheduled to be held at The Playhouse on Sunday 13th August, has been canceled. For further details, please refer to our official Press Release: https://t.co/kt7zvPGyen
— The Book Festival in Edinburgh (@edbookfest) August 4, 2023
The event planner expressed his "appreciation" for the choice made by the campaigner, yet emphasized his conviction that Baillie Gifford is an integral player in resolving the climate crisis.
“I regretfully cannot be present at the Edinburgh Book Festival," Ms Thunberg expressed in a statement issued by the event organizers.
As someone dedicated to addressing climate change, I cannot participate in an occasion that is financially supported by Baillie Gifford, a company that significantly funds the fossil fuel sector.
The fossil fuel industry utilizes greenwashing tactics, such as funding cultural events, to maintain public support and the necessary approval to carry on with their operations.
"I refuse to be affiliated with gatherings that endorse such sponsorship, and I have no desire to do so."
Baillie Gifford holds a significant position as a sponsor for the Edinburgh International Book Festival. Many activities, including one featuring former prime minister Gordon Brown, will be held at venues associated with the company.
A representative from the company dismissed the claims made by Ms. Thunberg, stating that merely 2% of our customers' funds are allocated to companies involved in any way with fossil fuels.
"This is in contrast to the average market rate of 11%. Among these companies, a few have already shifted a majority of their operations away from fossil fuels, while numerous others are actively contributing to the shift towards renewable energy."
Our focus is on making strategic investments to increase our clients' savings and retirement portfolios.
"When we make investments on behalf of our clients, we commit to holding them for extended periods of time, often spanning 10 years or even longer. As a result, we have naturally moved away from traditional fossil fuel companies. At present, approximately 5% of our clients' funds are invested in enterprises that focus solely on creating sustainable energy solutions."
At our core, we have a strong belief in the importance of open dialogue and conversation. That is precisely why we have pledged our enduring support to the renowned Edinburgh International Book Festival.
Festival coordinator Nick Barley expressed his "regret," but also acknowledged: "I completely understand and accept her choice."
Nevertheless, while we commend Greta for her unwavering commitment to her beliefs, we also need to honor our own principles, states Mr. Barley.
The primary purpose of the Book Festival is to create an arena for deliberation and conversation concerning crucial matters that impact mankind in this era, including the urgent matter of climate change. Without the enduring assistance from benevolent institutions like Baillie Gifford, we would not have the means to facilitate this important platform.
We firmly believe that Baillie Gifford plays a significant role in addressing the climate crisis.
They are pioneering backers of forward-thinking companies that contribute positively to the climate, offering financial support to aid their expansion.
Although they admit that there is more work to be done, we have witnessed significant advancements in their performance during our nearly two-decade-long partnership.
The director expressed regret to the individuals who had purchased tickets for the event at the Edinburgh Playhouse, and assured them that they would receive their money back.
