The Edinburgh International Book Festival has ended its 20-year funding partnership with sponsors Baillie Gifford after pressure from climate change protesters.
The move follows a similar decision by the Hay Festival in Wales last week.
The investment company, which is based in Edinburgh, has been a major sponsor of UK arts events but has come under scrutiny for its investments in fossil fuels.
Book festival chairman Allan Little said they could nor deliver a safe and sustainable festival in August with the constant threat of disruption from activists.
The protests began when more than 50 authors called on the festival to end its deal with Baillie Gifford in 2023, after climate change activist Greta Thunberg cancelled an appearance at the event.
The then festival director, Nick Barley, warned the organisation would not have enough money to operate without private sponsorship.
In a statement released on Thursday, Baillie Gifford’s Nick Thomas said: “The activists’ anonymous campaign of coercion and misinformation has put intolerable pressure on authors and the festival community.
“We step back with the hope that the festival will thrive this year and into the future.
“We hold the activists squarely responsible for the inhibiting effect their action will have on funding for the arts in this country.”
