Patagonia: ‘Earth is now our only shareholder’
Forever known for their ‘for the planet’ stance on mindful manufacturing and impact reduced resourcing, Patagonia founder Yvon Chouinard announces the brand’s recent non-profit transition with all non-reinvested profits being transferred to both the Patagonia Purpose Trust and Holdfast Collective, where it will use all proceeds to protect nature and biodiversity, support local communities and fight environmental change.
Ever since their foundation in 1973, the outdoor brand has continued to utilise business as a way of implementing sustainable solutions to the on-going climate crisis. Their recent move follows a notion of ‘going purpose’ as opposed to the mainstream idea of going public, with planet Earth now inspiringly labelled as the brand’s only shareholder. Chouinard, Patagonia’s founder and a renowned climber, environmentalist and philanthropist, has explained that although the brand was doing its best to address the environmental crisis, it wasn’t enough.
“Truth be told, there were no good options available. So, we created our own. Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth”
Patagonia are no strangers to purposeful resourcing, with all apparel, including latest outerwear essentials such as the Lone Mountain Parka, Torrentshell 3L Jacket, Retro Pile Fleece Jacket and Better Sweater crafted from a combination of post-consumer recycled, Fair Trade Certified™ and bluesign® approved fabrics. Self-led projects include the brand’s Worn Wear and ReCrafted initiatives, a commitment between Patagonia and its customers to repair, share and recycle gear, whilst their favouring of Bureo’s NetPlus® scheme to create plastic-free oceans follows the likes of YETI and Brixton as they incorporate 100% recycled discarded fishing nets into apparel and headwear. Steadily donating 1% of sales to the preservation and restoration of the natural environment since 1985 through their 1% for the Planet alliance, this news follows on from the brand’s recent partnership with the Albanian government to create the world’s first wild river national park. Read more about the Vjosa National Park project here: Patagonia Provides a Voice for the Vjosa | Always in Colour
“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.
Still led by a goal of becoming 100% carbon neutral by 2025 with a focus on preservation, Patagonia’s shift toward promoting long-term vitality builds upon nearly 50 years of influential activism. Exploring new ways to do their part to help preserve and protect the Earth for the benefit of future generations, small scale communities and resident wildlife, Patagonia’s resilient ethos is one that continually pushes boundaries and challenges conformity without a shred of hesitation.
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