Protests against arts sponsorship are killing culture. Be careful what you wish for | Martin Prendergast

Baillie Gifford’s financial support of the biggest book festivals ended after a campaign against its fossil fuel ties. Britain’s arts need more corporate cash, not less

What do Sam Mendes, Daniel Craig, Judi Dench, Ralph Fiennes, Naomie Harris, Phoebe Waller-Bridge and Ben Whishaw all have in common? Well yes, they’re all part of the billion-dollar James Bond franchise. But they’ve also all had their talent nurtured through public investment in arts and culture. More specifically, through a delicate, three-part funding model – a uniquely balanced mix of government investment, box office income, and philanthropy and sponsorship.

This special and particular model fuels the UK’s global reputation as a creative superpower. Yet it is under severe threat. Increasing protests around elements of corporate sponsorship of the arts – most notably last month, when support from investment firm Baillie Gifford for the Hay, Edinburgh and Borders book festivals ended after pressure from Fossil Free Books – are starting to make the sector look too risky for corporate brands to back.