Greta Thunberg accuses Edinburgh book festival sponsor of ‘greenwashing’ | Greta Thunberg

The climate activist Greta Thunberg has pulled out of an appearance at the Edinburgh book festival, accusing its lead sponsor of “greenwashing”.

Thunberg was scheduled to speak at the 3,000-seat Playhouse theatre to discuss her appeal for climate action, It’s Not Too Late to Change the World, as part of a series of “climate positive” events at this year’s festival.

Her decision came after Scotland’s investigative news site The Ferret claimed that festival sponsor Baillie Gifford had billions invested in firms that profit from fossil fuels.

In a statement released through the festival, Thunberg said: “As a climate activist I cannot attend an event which receives sponsorship from Baillie Gifford, who invest heavily in the fossil fuel industry.

“Greenwashing efforts by the fossil fuel industry, including sponsorship of cultural events, allow them to keep the social licence to continue operating. I cannot and do not want to be associated with events that accept this kind of sponsorship.”

A spokesperson for Baillie Gifford denied the company was a significant fossil fuel investor.

Organisers had hoped that Thunberg’s appearance, along with Booker prize winners and political leaders, would help reverse last year’s dramatic decline in ticket sales.

Nick Barley, the festival’s director who is curating his last festival after 14 years in charge, said: “While I am disappointed that Greta will not be joining us on the 13 of August, I fully respect her decision. I share Greta’s view that in all areas of society the rate of progress is not enough.”

He defended Baillie Gifford’s sponsorship, saying: “We strongly believe that Baillie Gifford are part of the solution to the climate emergency. They are early investors in progressive climate positive companies, providing funds to help them grow. While they acknowledge there is still work to do, we have seen them make rapid progress throughout our 19-year relationship”.

Barley apologised to all those who had bought tickets for the event “and especially to the hundreds of young climate campaigners who we had invited to come along because of their hard work to change the system in Scotland”. He said all tickets would be refunded in full.

In its own statement, Baillie Gifford said: “We are not a significant fossil fuel investor. Only 2% of our clients’ money is invested in companies with some business related to fossil fuels. This compares to the market average of 11%. Of those companies, some have already moved most of their business away from fossil fuels, and many are helping to drive the transition to clean energy”.

“We are investing on behalf of our clients to grow their savings and retirement funds. When we invest in companies on their behalf, we do so over long time periods – typically 10 years or more – so this has naturally led us away from traditional fossil fuel firms. Currently, 5% of our clients’ money is invested in companies whose sole purpose is to develop clean energy solutions.”