Yvon Chouinard is giving away Patagonia to environmental causes.
The company will still be active, but all profits will go to fighting the climate crisis and pursuing other environmental goals.
In an unprecedented move, Patagonia founder Yvon Chouinard has announced that the company will be giving away all of its profits to environmental organizations. The company will still be operational, but all money made will now go towards fighting the climate crisis and other pressing environmental issues. This is a bold new step for a company that has long been an activist for environmental causes.
This is a bold new step for a company that has taken a leading activist role for years.
Patagonia has always been at the forefront of environmental activism, and this latest move is just another example of the company's commitment to protecting the planet. For years, Patagonia has been donating money to environmental causes, and this latest announcement takes things one step further. With this decision, Patagonia is sending a clear message that it cares about the environment above all else.
Patagonia Purpose Trust will "protect the company's values."
The non-profit Holdfast Collective will use the company's profits each year for environmental action.
This ensures that the company will continue its activist role.
The Patagonia Purpose Trust is a new trust created by the company to ensure that its profits are used for environmental causes. The trust is being run by the Holdfast Collective, a non-profit organization that will use the money to fund environmental projects. This arrangement ensures that the company will continue its activist role, even as it gives away its profits.
Yvon Chouinard is a former rock climber and founded Patagonia nearly 50 years ago.
The company has grown into a multi-billion-dollar corporation selling supplies marketed to outdoor enthusiasts.
In recent years, the company's activist role has become much more prominent.
Yvon Chouinard is the founder of Patagonia, a clothing company specializing in outdoor apparel and gear. He started the company nearly 50 years ago, and it has since grown into a multi-billion-dollar corporation. Though originally just a craftsman making gear for his friends, Chouinard's business acumen turned Patagonia into one of the most successful companies in its field.
In recent years, Patagonia's activist role has become much more prominent. In 2018, the company said it would donate all the money it gained from the tax cuts signed by then-President Trump to environmental causes. And in 2017, Patagonia joined a lawsuit trying to stop the federal government from shrinking the Bears Ears and Grand Staircase-Escalante national monuments in Utah. These actions are indicative of Chouinard's own values; he has said that he never wanted to be a businessman, and that his only goal was to make good products that people could use.
The donation of Patagonia's profits to environmental organizations is thus in keeping with Chouinard's original vision for the company. It is also a way of ensuring that Patagonia will continue its activist role even as it grows larger and more successful. The Chouinard family did not receive any tax break for its donation; this was simply an act of philanthropy on their part.
The donation to the Holdfast Collective is a way of "creating our own" good option.
This allows the company to maintain its activist role while still being a for-profit organization.
The Chouinard family's donation of Patagonia's voting stock to the Holdfast Collective is an example of how the company can maintain its activist role while remaining a for-profit organization. This donation will allow the Holdfast Collective to use the company's profits each year for environmental action. This ensures that the company will continue its activist role without sacrificing its bottom line.
The Chouinard family did not receive any tax break for its donation.
The Chouinard family did not receive any tax break for its donation of Patagonia's voting stock to the Holdfast Collective. This is because the donation was made to a non-profit organization, and not to a private individual or foundation. The family has said that they believe in the mission of the Holdfast Collective, and that they want to help further its goals.