The Giller Prize has officially severed ties with its lead sponsor, Scotiabank, marking the end of a 20-year partnership. The decision comes more than a year after protests erupted within the literary community over the bank’s financial ties to an Israeli arms manufacturer.
In a statement released Monday, the Giller Foundation confirmed that its relationship with Scotiabank had ended. However, the organization did not explicitly address the reason behind the split.
Elana Rabinovitch, the foundation’s executive director, acknowledged Scotiabank’s long-standing support, stating that the organization was deeply appreciative of the bank’s role in elevating the prize. Under Scotiabank’s sponsorship, the Giller Prize grew into Canada’s most lucrative literary award, increasing the total prize money to $125,000, with $100,000 awarded to the winner.
The controversy surrounding Scotiabank’s involvement with the Giller Prize began gaining traction in 2023 when pro-Palestinian activists staged protests at the annual awards ceremony. Leading up to the event, members of the literary community also called for a boycott of the prize, citing concerns over Scotiabank’s subsidiary holding a financial stake in Elbit Systems, an Israeli defense company. Critics argued that the association was incompatible with the values of literary and artistic expression, fueling widespread debate over corporate sponsorships in the arts.
Following the announcement of the sponsorship’s termination, the Giller Foundation emphasized its commitment to moving forward, stating that it would actively seek out new opportunities and collaborations to ensure the continued success of the prize.
Meanwhile, Scotiabank declined to comment on the matter.
Rabinovitch had previously stated that the foundation’s contract with Scotiabank was set to conclude at the end of 2025. However, in her latest remarks, she framed the transition as the beginning of “an exciting new era” for the Giller Prize, signaling a shift toward new partnerships and a future independent of its longtime financial backer.
Source: Swifteradio.com
