Companiessustainability

Non-profit breakthrough for Patagonia. The owner "my company to save the planet".

Yvon Chouinard, mountaineer, climber, as well as founder of Patagonia, announced that he had donated his company, valued at around 3 billion dollars, to a non-profit organization he created with the aim of investing the company's profits ( about 100 million a year) in activities to combat climate change.

Thursday 15 September 2022 2 minutes reading time

Yvon Chouinard's story started with handmade climbing equipment and his growth has allowed his company to become a giant of outdoor clothing. The choice of the epochal change is described directly by the eccentric climber in a letter published on the social networks and on the homepage of the patagonia.com website: «The Earth is now our only shareholder». A heritage donated to fight the climate crisis. Corporate aspects Patagonia will continue to operate as a privately held company, based in Ventura, California, billing approximately $ 1 billion annually. The Chouinard family has irrevocably transferred their voting shares, equal to 2% of the total, to a new entity called the Patagonia Purpose Trust, which will be overseen by family members to ensure Patagonia lives up to its commitment to manage the company. '' activities in a socially responsible way. The remaining 98% of the shares will pass to a new non-profit called Holdfast Collective, which will receive all of the company's profits and use them to combat climate change.

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