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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Further disruption expected as more bus strikes announced across Greater Manchester
Emily Sergeant
Further disruption is expected as even more bus strikes have been announced across Greater Manchester this autumn.
It comes after the strikes set to place this month from 19 to 22 September were announced a couple of weeks back, and now a second round will take place towards the end of this month and going into early October.
In case this is the first you’re hearing of the upcoming industrial action, 2,000 workers who are employed by Stagecoach, Metroline Manchester, and First Bus Rochdale – all of which are firms among those that make up the bus part of the Bee Network – are due to walk out in a co-ordinated strike amid an ongoing pay dispute.
Unite the Union says all the firms are ‘highly profitable’ and it’s therefore ‘disappointing’ that workers are being denied a fair wage.
More strikes have been announced on the Bee Network this month / Credit: TfGM
At Stagecoach, around 1,000 drivers based across the Oldham, Stockport, and Middleton depots have rejected a pay offer of 3.5%, and 1,000 Metroline Manchester members will also do the same after turning down an ‘unsatisfactory’ below-inflation pay offer.
Workers at both Metroline and Stagecoach believe the offer doesn’t address years of low pay they’ve recieved, especially given the ongoing cost of living crisis.
Then, over at First Bus Rochdale, 110 members have rejected this year’s pay offer of 6%, as they feel this does not go far enough to address the fact they’ve had years of being paid less than their counterparts at other companies, and are still the lowest paid in the region.
Stagecoach, Metroline, and First Bus Rochdale, part of First Group PLC, are all firms which have seen a rise in profits in recent years.
2,000 drivers are set to stage strike action over two different periods / Credit: TfGM
The second round of strikes will now take place from from 30 September to 2 October.
Speaking ahead of both sets of upcoming strikes, Unite General Secretary, Sharon Graham, said: “These companies are very profitable but are putting greed over their hardworking members of staff.
“Further strike action will be extremely disruptive, however this is a dispute entirely of the bus companies’ making and they could solve it easily by coming back with a better deal.
“Our members involved in the dispute have Unite’s complete support.”
Unite Regional Officer, Colin Hayden, added: “The strikes this week as well as the further action we have called will cause travel chaos in Greater Manchester. However, it is entirely the fault of the employers involved, who have failed to address the issue of low pay and reward their staff accordingly.
“Unite is not afraid to escalate to more strikes, which will only intensify going forward.
“It is time for the employers to make an offer that is acceptable to our members to resolve this disruption.”
Featured Image – TfGM
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Police appeal after Bolton woman, 24, dies in collision following suspected ‘medical episode’
Emily Sergeant
An appeal for information and witnesses has been issued following a fatal collision in Bolton earlier this week.
Greater Manchester Police (GMP) explained that at around 7pm on Tuesday (16 September), a car was travelling eastbound along Chorley Old Road, near to the Horwich area of Bolton, when it is believed to have lost control and collided with a wall.
Sadly, the driver of the car – a woman aged 24 – died at the scene, and it is believed she may have had a suspected ‘medical episode’.
No other vehicles were involved in the shocking incident.
#APPEAL | Officers are appealing for information following a fatal traffic collision in Bolton yesterday evening (16 September 2025).
The road was closed for large part of Tuesday evening, close to the junctions with Old Kiln Lane and Walker Fold Road – with at least six police cars reported to be in attendance at one point, as well as several paramedics and even an air ambulance.
Police are still investigating the full circumstances of the collision, and are now asking anyone who may have witnessed the incident to get in touch.
This also includes anyone with dashcam, CCTV, or doorbell footage which capturing the collision.
Emily Sergeant -
15th September 2022 
