Borders and Cheltenham literature festivals end ties with

Investment management firm’s links to Israel and fossil fuel sector put sponsorship deals under pressure

Cheltenham literature festival and the Borders book festival have become the latest to break ties with the investment management firm Baillie Gifford.

The company had previously sponsored eight literary festivals, as well as the UK’s most prestigious nonfiction prize. However, after boycotts of the Hay festival because of Baillie Gifford’s links to Israel and fossil fuel companies, the Powys-based event pulled out of its sponsorship deal.