Patagonia makes Earth its only shareholder
By Tommy Dore on Friday, September 16, 2022
The founder of outdoor apparel brand Patagonia, Yvon Chouinard, has given away the company to fight climate change.
Yvon has handed over all yearly profits not being reinvested into Patagonia ($100 million) to a charitable trust and organisations focused on tackling the climate crisis.
After the news was announced on September 14, Yvon said: “We’re making Earth our only shareholder. I am dead serious about saving this planet.” This is a big move by a big company. Patagonia continue to rise the bar for corporate sustainability and show the radical change that is necessary to save our planet.
Not only will this inspire other leading companies in the industry to follow in similar footsteps, this action will be sure to bring in new customers who share Yvon and the Chouinard family’s values.
Anna Lungley, chief sustainability officer at holding company Dentsu, reflects on the brand’s journey, saying it is a “shining example of a business wholly committed to sustainability from the ground up through its investment in people, processes and activism.
Environmental action has been woven into Patagonia’s DNA since it was founded in 1973, and this latest campaign reflects how deeply the company cares for Earth.