We all know Patagonia, the American brand specialised in outdoor clothing since 1973. We also know how dedicated the brand is to the topic of sustainability. He was one of the first to take an interest in our beloved Earth and to organise sustainable initiatives including: the use of recycled fibres, the “Worn Wear Tour” which offers a free repair service, the “Sustainable Apparel Coalition” creating more environmentally sustainable clothing production standards, the campaign “1% FOR THE PLANET”, inviting companies to donate 1% of profits to environmental groups and I could go on and on. The list is very long…
Now, the Chouinard family has just made a noble choice, leaving everyone speechless!
The family transferred the voting shares, which include 2%, to a new entity, Patagonia Purpose Trust, which will have to ensure that the business is managed in a socially responsible manner and that profits are transferred. Yes, but transferred to whom? The remaining 98% of the shares were donated to a non-profit, Holdfast Collective.
This is revolutionary!
This means that the brand will continue to exist but with a different purpose! What will be the real purpose of this choice? Collect at least $100 million each year that will be invested in defeating one of our worst enemies: climate change.
Now, as soon as we enter the site of Patagonia this is what appears:
“Earth is now our only shareholder.
If we have any hope of a thriving planet—much less a business—it is going to take all of us doing what we can with the resources we have.
This is what we can do.”
If Yvon Chouinard donated his $3 billion brand to try to save the planet, we can at least strive to minimise the use of plastic and make waste separation. Don’t you think so?
