The billionaire owner of Patagonia has given the company away to environmental causes in a bid to help fight the climate crisis.
Standing by the morals the sportswear and outdoors fashion brand has always aligned with, and in a move that is no doubt setting the standard when it comes to environmental corporate leadership, Patagonia founder Yvon Chouinard and his family are giving away the entire company valued at $3 billion to a uniquely-structured trust and non-profit.
The move is designed to put all of the company’s profits into saving the planet.
Previously, Patagonia had given away 1% of its sales each year, and 2018, it said it was in “business to save our home planet” – but now, reluctant billionaire Mr Chouinard has said he feels this is “not enough”.
“I never wanted to be a businessman,” Mr Chouinard explained.
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“I started as a craftsman, making climbing gear for my friends and myself, then got into apparel [but] as we began to witness the extent of global warming and ecological destruction, and our own contribution to it, Patagonia is committed to using our company to change the way business was done.
“If we could do the right thing while making enough to pay the bills, we could influence customers and other businesses, and maybe change the system along the way.”
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Patagonia founder gives away $3 billion company to environmental causes fighting climate crisis / Credit: Patagonia
Kicking off the next 50 years, Patagonia says it’s “going purpose” instead of “going public”.
All ownership has been transferred to two new entities – Patagonia Purpose Trust and the Holdfast Collective.
Most significantly, every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet.
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The Patagonia Purpose Trust now owns all the voting stock of the company, and exists to create a more permanent legal structure to “enshrine Patagonia’s purpose and values”, and will help ensure that there is never deviation from the intent of the founder.
It will facilitate what the company says it continues to do best – “demonstrate as a for-profit business that capitalism can work for the planet.”
Instead of “going public,” you could say we’re “going purpose.” 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.
The Holdfast Collective now owns all the non-voting stock, and will use every dollar received from Patagonia to “protect nature and biodiversity”, support thriving communities, and ultimately, work on tackling and preventing climate change.
Each year, profits that are not reinvested back into the business, will be distributed by Patagonia as a dividend to help fight the climate crisis.
Announcing the transfer of the company, Mr Chouinard: “It’s been a half-century since we began our experiment in responsible business, but 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 – I am dead serious about saving this planet.”
Featured Image – Patagonia
News
Swinton women’s Lionesses rebrand is officially off the ground
Danny Jones
Following an initial announcement late last year, local rugby club Swinton Lions’ women’s team has finally and fully rebranded as Manchester Swinton Lionesses.
The Salford-founded rugby league club, whose men’s team competes in the RFL Championship, has a long and rich competitive history, as well as a fervent male and female following in the area.
As one of the most important and well-established outfits in women’s rugby, Swinton Lions have not only officially relaunched as the Lionesses from 2026 onwards, but are looking to re-establish themselves as their own entity and a competitive powerhouse capable of competing at the top level.
In case you hadn’t heard about the rebrand up until now, you can get a closer look at changes not only to the name but the club crest and more.
As you can see, not only is the shift towards Manchester rather than just strictly Swinton a concerted effort to broaden the supporter base across all 10 boroughs, but there are some key tweaks to the new Lionesses badge.
Changing the design of the lion logo itself – as well as citing 2020 as a key date in this rebirth (i.e. the short-lived push to be renamed the ‘Manchester Lions’), which is more than half a decade in the making – they’re heading into the new year with both a new name and a slightly new look.
Just as reported by the likes of sports journalist Johnny Davidson back in November, however, the title and insignia have been a long time coming.
As per a press release by the club at the time, besides new kits and some key admin, “This evolution is about more than a new name or logo; it’s about creating a platform for women and girls across Greater Manchester to be inspired, to belong, and to believe they can achieve greatness in our sport.”
They insist that the aim is to be a “progressive club that’s proud of its history but unafraid to innovate”, also looking to attract new investors and commercial partners – such as Superfly Sports Flags, which will now appear on the likes of players’ shorts and boot bags, as well as around Heywood Road.
'The Swinton Lionesses today proudly announced the launch of their new identity – the Manchester Swinton Lionesses – marking an exciting new chapter not only for women’s rugby league but for the evolution and ambition of one of the sport’s most historic clubs.
Women’s captain Sammi Simpson went on to state: “We’re so proud of what this team has achieved in such a short time, and this next step feels like a natural evolution.
“Wearing ‘Manchester Swinton Lionesses’ on our shirts will remind us of where we’ve come from — and how far we can go together. We want to inspire the next generation of players, supporters, and families to be part of something special.”
Even Mayor Andy Burnham has expressed his excitement, adding: “Manchester is a city built on sport, strength, and community — and the Manchester Swinton Lionesses embody all of that.
“This new identity is a powerful statement about where women’s rugby league is heading and the role Greater Manchester will play in shaping that future.”
As any rugby fan will know, this isn’t the only rebirth of a local sporting institution currently taking place over in Salford.
New landmark chickenpox vaccine begins UK rollout to protect thousands of children
Emily Sergeant
A new landmark chickenpox vaccine is beginning its rollout across the UK in a bid to help protect hundreds of thousands of children.
Chickenpox is a common infection in children that spreads easily.
It is usually mild but it can lead to serious complications which need hospitalisation, including chest infections and fits. The latest Government data indicates that half of children will contract chickenpox by the age of four, and 90% by the age of 10.
Currently, children who catch chickenpox are typically advised to stay off school until all spots have formed a scab – which is usually five days after the spots appear.
But now, this new vaccine will mean children can miss fewer days in nursery or school, and reduce time parents need to take off work to care for them.
Hundreds of thousands of young children are now being offered the chickenpox protection as part of routine NHS childhood vaccinations.
The combined vaccine adds chickenpox protection to the existing measles, mumps and rubella schedule.
Surprisingly, it’s estimated that around £24 million is lost in income and productivity every year in the UK due to childhood chickenpox, so not only will the new vaccine rollout save money this way, but it is also expected to save the NHS a whopping £15 million a year in costs for treating the common condition.
The new vaccine comes following a recommendation from the Joint Committee on Vaccination and Immunisations – with a combined MMRV vaccine replacing the MMR vaccine to protect against measles, mumps, rubella, and chickenpox (varicella).
From now on, GP practices on the NHS will start to offer children the combined MMRV vaccine at 12 months and 18 months of age.
Dr Claire Fuller, who is the National Medical Director for NHS England, called the rollout a ‘hugely positive moment’ for children and their families.
“From now, the combined vaccine to protect against measles, mumps, rubella and chickenpox will be available at children’s routine vaccination appointments to keep children healthier and prevent sickness from these highly contagious viruses,” commented Dr Fuller.
“The new vaccine will also help the health service move its focus from sickness to prevention, and keep more children safe and in school.”
Featured Image – Jonny McCullagh (via Wikimedia Commons)
Emily Sergeant -
15th September 2022 
