Edinburgh International Book Festival: Author stages mass walkout from show to protest against sponsor

The demonstration comes after a letter signed by more than 100 other authors urging festival organisers to cut ties with one of its sponsors over climate concerns.

Author Mikaela Loach prompted a mass walkout of her event at the Edinburgh International Book Festival to protest against one of the event’s sponsors having fossil fuel investments.

The demonstration comes after more than 100 other authors signed a letter urging festival organisers to put pressure on its main sponsor Baillie Gifford over its financial ties to the oil and gas industry.

An article written in The Ferret revealed how the company has £5 billion invested in corporations that profit from fossil fuels.

Author Mikaela Loach (far right) at the Edinburgh International Book Festival kickstarting a mass walkout from her panel show on the event's opening night to protest the festival having Baillie Gifford as one of its sponsors (pic: Harvey Blackmore)

Baillie Gifford, which has been sponsoring the festival for 19 years, said it is not a significant investor in the industry.

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Ms Loach was scheduled to speak for the opening program of the festival on Saturday about her book ‘It's Not That Radical: Climate Action to Transform Our World’.

The event, called ‘Changing the Climate Narrative’, was billed as an inspiring discussion about how it is not too late to enact change. Midway through the panel, Ms Loach was asked about what actions people can take to help tackle the climate crisis.

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She stopped the conversation and unveiled a banner on stage that read: “You wouldn’t burn books. Don’t burn the planet. Drop Baillie Gifford.”

Ms Loach then addressed the audience, saying: “While Baillie Gifford has major investments in fossil fuel companies, they should not be sponsoring, or being able to be greenwashed by a cultural festival which is about ideas and imagination.

"Companies like Baillie Gifford want a ‘social licence’ – a pass we give companies or institutions to allow them to continue to exist. We don't realise we're giving it to them, but depending on who they align themselves with, we think they’re either not bad, are good or are even necessary.

"While they have nearly £5bn invested in companies that profit from fossil fuels, sponsoring events where climate activists like me are speaking is nothing more than greenwash.”

The author and climate activist then announced the authors involved in the opening programme were going to walk out of the event and encouraged the audience to join them. She exited the auditorium, followed by about 180 audience members. The group congregated outside, continuing to chant “Baillie Gifford’s got to go”.

Ms Loach said: “I was so excited to be invited to speak on my book at the Edinburgh International Book Festival and would have loved to have had a full conversation there. But we are in a dire situation with the climate crisis.”

A statement from Baillie Gifford, which has been sponsoring the festival for 19 years read: “Two per cent of our clients’ money is invested in companies with more than five per cent of their revenue coming from some form of fossil fuel activities.

"This is a low threshold and while it includes some exposure to oil and gas companies, such as Petrobras, some have already moved most of their operations away from fossil fuels and are helping to drive the transition to clean energy.”

The statement added: “We invest more than double - five per cent of clients’ money - in companies dedicated to clean energy solutions. We were early to spot the potential for Tesla and Northvolt (green batteries for electric vehicles) and are one of the largest investors in both companies.

"We also invest in Climeworks which extracts carbon from the air and buries it deep underground.

“We are transparent about how we incorporate climate considerations into our client portfolios.”

Earlier this month, climate activist Greta Thunberg decided to pull out of her scheduled appearance at the festival, citing Baillie Gifford’s attempt at “greenwashing” while investing “heavily in the fossil fuel industry”.

Prime Minister Rishi Sunak unveiled plans to authorise more than 100 new North Sea licences on a visit to Scotland earlier this month. During a visit to the Shell gas terminal north of Aberdeen, Mr Sunak said the plan was compatible with net zero commitments given the anticipated part-reliance on fossil fuels for years to come.

Climate groups, however, said the Prime Minister’s plan would “send a wrecking ball” through climate commitments.