Old Vic theatre urged to cut Royal Bank of Canada ties

The Old Vic theatre in London is being urged to end its sponsorship from the Royal Bank of Canada (RBC).

A letter addressed to the trustees of the theatre, signed by over 80 theatre professionals, is calling on the venue not to renew RBC’s role as Principal Partner once the current partnership comes to an end this month.

According to The Old Vic’s website, RBC has been a partner since 2015, coinciding with the beginning of current Artistic Director Matthew Warchus’s tenure, and has supported over 30 productions since.

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The letter names RBC as “one of the world’s biggest financiers of fossil fuel development”, having invested over $250bn in fossil fuels since the 2015 Paris Climate Agreement was signed. It adds that RBC-funded fossil fuel infrastructure projects violate the rights of First Nations people and impact disproportionately on communities of colour in North America, where there is already a long-running campaign against the banks’ practices.

The letter also says RBC holds billions of dollars of investment in companies that supply weapons to Israel, including those which have been identified as having been used against civilians.

“We share a deep concern for the climate crisis, human rights, and the ongoing genocide of the Palestinian people and are deeply troubled that the Old Vic, an institution with a prominent and influential role in the arts world, is helping to both enhance the reputation and further the business of one of the world’s biggest financiers of fossil fuel development and investors in war,” the letter reads.

Signatories include oscar-winning actor Sir Mark Rylance, award-winning playwrights Caryl Churchill and Dawn King and theatre and screen figures Paapa Essiedu and Cara Theobold. 

Producers and performers involved in Old Vic productions have also back the letter, including actor Fehinti Balgoun and playwright and screenwriter Morgan Lloyd Malcom, as well as individuals involved in worker-led organisations such as Equity and Cultural Workers Against Genocide.

The letter goes on to say that corporate sponsorship is a “transaction, not philanthropy – and no money is given in an ethical vacuum”. 

“When the Old Vic advertises sponsorship as a means ‘to meet your specific business objectives and to drive superb [return on investment] back to your business’, it is clear the theatre has been prepared to help further the profits and destructive business plans of a company like RBC,” it continues. 

“We believe the Old Vic’s stated mission to be a “strong advocate for the power of theatre as a force for good” is clearly undermined by the Old Vic’s partnership with Royal Bank of Canada, rather than sustained by it.”

A spokesperson for The Old Vic told Arts Professional: “We respect the varied views of our colleagues within the creative community. As a registered charity with no regular public subsidy, The Old Vic is reliant on a mixed funding model of ticket sales, and philanthropic and corporate donations. We work with a variety of partners, always after careful consideration, to further our mission: to enable anyone to experience, make and benefit from theatre.”

Concern over the theatre’s ties with RBC follows ongoing criticism of the Science Museum and British Museum for their sponsorship from oil giants including Adani and BP.