We’re in business to save our home planet
Patagonia has always been committed to protecting the planet. They use materials that cause less harm to the environment. Give away 1% of sales each year. Became a certified B Corp and a California benefit corporation. Wrote their values into their corporate charter so they would be preserved. In 2018, they even changed the company’s purpose to: We’re in business to save our home planet. When Yvon Chouinard – rock climber, environmentalists and founder of Patagonia, looked for company exits that align with everlasting climate goals, he realized there were none. So he decided to create his own. He is transferring his $3B clothing retailer to a pair of trusts dedicated to protecting Patagonia’s values and the planet.Patagonia goes purpose
Here’s how the new ownership structure works:- All the voting stock (2% of total) is transferred to Patagonia Purpose Trust, a specially designed trust overseen by the family to protect the company’s values.
- The remaining nonvoting stock (98% of total) is donated to Holdfast Collective, a non-profit that will use the company’s $100M annual profit to fight the climate crisis.
- Selling the company and donating the profits, which might create a nice one-time cash flow benefit for climate but would put Patagonia’s social and environmental values at risk.
- Taking the company public, which would have meant prioritizing short-term gain at the expense of long-term vitality and responsibility.
Despite its immensity, the Earth’s resources are not infinite, and it’s clear we’ve exceeded its limits. But it’s also resilient. We can save our planet if we commit to it – Yvon Chouinard.If you’d like to know more about this, we encourage you to read Yvon Chouinard’s letter! Alba
Climatize Earth Securities LLC is Registered with the Securities and Exchange Commission (SEC) and is a Financial Industry Regulatory Authority (FINRA) Member under Section 4(a)(6) of the United States Securities Act, SEC File No: 7-191.
By using this website, you accept our terms of use and privacy policy. Information provided by Climatize Earth Securities LLC support is educational in nature and does not constitute investment, legal or tax advice. We do not make recommendations regarding the appropriateness of a particular investment opportunity for any particular investor. We are not investment advisors. Investors must make their own investment decisions, either alone or with their personal advisors.
You should view all of the investment opportunities on our Platform as risky. You should consider investing only if you can afford to lose your entire investment as you could lose your entire investment. It will be hard to estimate how much you could earn from your investment. Learn more in our Educational Materials.
Copyright@ Climatize Earth Inc 2023.