National Galleries of Scotland (NSG) has put out a statement online saying will continue its relationship with sponsor Baillie Gifford.
Acknowledging it was "a complex issue," the NSG statement said “we are confident that the funding we receive from Baillie Gifford meets our strong ethical standards”.
The statement continued: “As a cultural organisation the National Galleries of Scotland offers a space for artists to share experiences and perspectives with others, encouraging discussion and understanding of the world we live in.
“This is one of the main ways we can positively impact society, but it needs to be funded. We deliver a world-class programme of exhibitions, events, engagement and outreach which just wouldn’t be possible without support from partners like Baillie Gifford.”
Baillie Gifford, a Scottish investment management company, has been criticised for its links to the fossil fuel industry and to Israel's war in Gaza.
Recents protests againt Baillie Gifford by climate activists - Fossil Free Books - led to the abrupt cancellation of partnerships with multiple book festivals including Hay, Cheltenham Literature Festival and Edinburget International Book Festival.
Last month Scotland's John Swinney accused climate activists of damaging Scotland’s cultural events by demanding organisations to reject sponsorship deals.
The Edinburgh Fringe has also said it would keep Baillie Gifford as a sponsor.