Patagonia’s Owner Gives away Three Billion Dollar Ownership to a Trust for Tackling Climate Crisis

Patagonia’s founder gave away the ownership of his company to a trust fund that will ensure that profits are used for tackling climate crisis! In his statement: “Yvon Chouinard said that instead of going public, You could say We are going purpose.”

Why?

The apparel industry is responsible for as much as 6.7% of the global greenhouse gases emitted in the world and releases 2–3.29 billion tons of CO2e into our atmosphere every year, according to data from Quantis. The cleaning and disposal of garments (too often in the landfill) only adds to this impact, which is increasing as people buy more and more stuff. If we don’t change course—and soon—we will lock in catastrophic effects of climate change.

We’re already at 100% renewable energy for our owned and operated stores, offices and distribution centres, but the real challenge comes from materials manufacturing, which accounts for 95% of our emissions. We take responsibility for all of it and are determined to work with our partners and vendors to conserve water, remove toxins and reduce emissions when and wherever possible.

We pay a premium for every Patagonia item that carries the Fair Trade Certified™ sewn label.

Patagonia is a founding and accredited member of the Fair Labor Association® (FLA), a nonprofit based in Washington, D.C. established to hold apparel companies accountable to responsible labor practices.

What’s Next?

By 2025, we will eliminate virgin petroleum fiber in our products and only use preferred materials.

By 2025, our packaging will be 100% reusable, home compostable, renewable or easily recyclable.

By 2040, we will be net zero* across our entire business.

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