Yvon Chouinard built Patagonia to be not just the get-close-to-nature brand to watch, but a kind of North Star for sustainability.
Patagonia said the trust owns all of the company’s voting stock, or 2 percent of the overall shares, and creates “a more permanent legal structure to enshrine Patagonia’s purpose and values.”
The collective owns the other 98 percent of the company and will “use every dollar received from Patagonia to protect nature and biodiversity, support thriving communities and fight the environmental crisis.” “It’s been a half-century since we began our experiment in responsible business,” Chouinard said. “If we have any hope of a thriving planet 50 years from now, it demands all of us doing all we can with the resources we have. As the business leader I never wanted to be, I am doing my part. Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source. We’re making Earth our only shareholder.
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