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
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Police appeal after Salford woman, 95, threatened by window cleaner in her own home
Emily Sergeant
Police are appealing for information after an elderly woman was threatened inside her own home during an attempted robbery.
Around 11am yesterday morning (27 January), officers from Greater Manchester Police‘s (GMP) Salford division responded to reports that a woman had cash demanded from her at an address on Belcroft Drive in Little Hulton.
It is believed that a man entered the property after offering to clean the woman’s – who police have confirmed is 95-years-old – windows, before tying her hands together, and then demanding her cash and purse.
The man’s efforts were disrupted when another woman who knew the victim arrived at the house, and thankfully because of this, no injuries were reported and the victim is being supported by officers.
The man fled the scene, and no arrests have been made at this time.
This is why police are now appealing to the public for any information that they may have that could help with their investigation while extensive enquires are ongoing – including any CCTV, dashcam, or doorbell footage from around the area at the time.
Investigators attended the scene and gathered evidence, which is currently being assessed and acted upon, but are also keen to speak to anyone who saw anything ‘suspicious’.
The man who committed the offence was described as white male, approximately in his late 60s or early 70s, with short mousy brown hair combed back, no facial hair, glasses, appeared well-kempt, and was wearing a dark raincoat jacket, jeans, and dark-coloured shoes.
“This was a vile incident in which a woman was tied up and threatened, and we are determined to locate the man responsible,” commented Detective Inspector Paul Davies, from GMP’s Salford district.
“Thankfully, this was not a more serious situation and we commend the brave actions of the lady’s friend who confronted the man and called officers. As we progress this investigation, we are appealing for anyone with any information to please come forward.”
Can you help? Anyone with information is asked to contact police via 101 or the Live Chat service at gmp.police.uk, quoting log 1082 of 27/01/26, or alternatively, you can contact Crimestoppers, anonymously, on 0800 555 111.
Featured Image – GMP
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NHS launches new AI and robot cancer detection pilot offering ‘glimpse into future’
Emily Sergeant
The NHS has launched a ‘trailblazing’ new AI and robot pilot to help spot cancers sooner.
Patients who are facing suspected lung cancer could get answers sooner under the new pilot that makes use of artificial intelligence (AI) and robotic technology to help doctors reach hard-to-detect cancers earlier, and all without with fewer tests too.
At the moment, patients are faced with weeks of repeat scans and procedures to come to a diagnosis.
But this could soon be replaced with a single, half-hour cancer biopsy – reducing prolonged uncertainty, and avoiding more invasive surgery.
According to the NHS, the new approach uses AI software to rapidly analyse lung scans and flag small lumps that are most likely to be cancerous, before a robotic camera is then used to guide biopsy tools through the airways with much greater precision than standard techniques.
A new NHS pilot using AI and robotic technology will help doctors reach hard-to-detect lung cancers earlier.
Weeks of scans and procedures could be replaced with a single biopsy, reducing uncertainty and avoiding more invasive surgery.
The robot can reach nodules as small as 6mm – which is around the size of a grain of rice – that are hidden deep in the lung and are often deemed too risky or difficult to access using existing methods, and once AI has highlighted higher-risk areas, doctors can then take a precise tissue sample, which is sent to specialist laboratories and reviewed by expert cancer teams to confirm or rule out cancer.
The NHS’s top cancer doctor hailed the pilot – which is currently being carried out at Guy’s and St Thomas’ NHS Foundation Trust – as ‘a glimpse of the future of cancer detection’.
“Waiting to find out if you might have cancer is incredibly stressful for patients and their families,” admitted Professor Peter Johnson, who is NHS England’s National Clinical Director for Cancer.
The NHS has launched a new AI and robot cancer detection pilot that’s offering a ‘glimpse into future’ / Credit: rawpixel
“Our lung cancer screening programme means that we are picking up more cancers at an early stage than ever, and by bringing AI and robotics together in this trailblazing NHS pilot, we’re bringing in the very latest technology to give clinicians a clearer look inside the lungs and support faster, more accurate biopsies.
“This is a glimpse of the future of cancer detection.
“Innovation like this is exactly how we can help diagnose more cancers faster, so treatment can be most effective, and why the NHS continues to lead the way in bringing new technology safely into frontline care.”
Emily Sergeant -
15th September 2022 
