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
A Manchester barbershop is offering a ‘pay what you can’ service this month
Danny Jones
Amidst the tidal wave of January deals on food and drink in Manchester, a local barbers is championing their own ‘pay what you can’ offer to help people along this month.
Jefe’s Barbershop, located in the heart of Manchester’s Northern Quarter, is one of the best barbers in the city centre, offering a wide variety of cuts and facial hair grooming services – they even offer a subscription service that helps people save money on regular trims.
That being said, they are well aware of those January blues and the mounting obstacles and anxieties that come with weeks of penny-pinching to make it to month’s end, as well as the general toll it can take on people’s mental health.
So this January, Jefe and his team are doing something different – as he puts it, “something special”: the barbershop is allowing customers to simply pay what they feel comfortable handing over and, in the case of those struggling, whatever they can afford.
It’s a simple gesture with a big purpose which helps ensure no one has to miss out on a feel-good moment or the confidence that comes from a fresh trim.
“All we do is laugh and joke about life—that’s why people come here,” Jefe explains. “I don’t want anyone to lose the chance to be present, to feel good, and to laugh with us.
“Men often need more help than they’re willing to let on and we want to be a helping hand they can rely on.” Now that’s a cause all of us can and should get behind.
Community support has remained at the core of Jefe’s Barbershop since the beginning when he swapped a basketball career for providing a much-needed service to Mancunian men.
From partnering with Manc sandwich shops and offering free haircuts for the homeless, to hosting street parties with local events companies and providing £5 trims to promote men’s mental health in 2023 when the cost of living crisis really kicked in – Jefe’s is always trying to make a difference in the area.
You’ve got to love businesses that go the extra mile.
If you want to make the most of this wholesome deal or just feel like you’re in need of a trim, you can book HERE or call them directly on 0161 818 7659.
The ‘pay what you can’ offer runs Monday to Thursday, 9am-7pm, subject to availability. You’ll find Jefe’s Barbershop on Stevenson Square
Because as the man himself puts it, “Everyone deserves to feel their best”.
Police appeal for witnesses after possible attempted kidnap of 11-year-old girl in Irlam
Emily Sergeant
An appeal for information and witnesses has been issued following the possible attempted kidnap of an 11-year-old girl in Irlam.
Greater Manchester Police (GMP) explained that at around 8:30am yesterday (14 January 2025), the young girl – who was walking to school at the time – reported being approached by a male and female on Silver Street in Irlam, close to the junction of Cutnook Lane.
It is believed the pair had been driving in the area in a car and a van, according to police.
The two then grabbed hold of the girl, before she was able to run away and later inform an adult of what had happened.
The male the police are hoping to gain information on is described as white, approximately 5ft 9 inches tall, with short dark hair and clean-shaven, and he was wearing blue jeans and a black hoodie at the time, while the female is described as white, and was wearing leggings and a black hoodie.
The car is described as a black four-door vehicle, while the van was small, white, and new-looking and with a sliding door.
#APPEAL | Detectives are appealing for information after a girl was approached and grabbed in Salford.
At around 8.30am today, an 11-year-old girl walking to school reported being approached by a male and female on Silver Street, Irlam.
In the interest of public safety while police are currently investigating the incident, extra officers have been deployed to the local area for reassurance as their enquiries continue, GMP has confirmed.
Appealing to the public, officers are also asking anyone who lives in the area to check for any relevant dashcam, CCTV, or doorbell footage from around the time of the incident, and anyone who may have witnessed anything suspicious is also asked to contact police.
“This is of course a concerning and distressing incident and I would like to reassure the community that we are doing all we can to investigate the circumstances,” explained Detective Inspector Justin Bryant, from GMP’s Salford district.
“We are keen to hear from anyone who may have witnessed something or has footage from around the time of the incident, and we would urge anyone with any information to please get in touch, as your assistance could be greatly beneficial to our work.
“We are ensuring that the girl and the family are being kept-up-to date and supported at this time.”
Information can be passed on to 101 or via the GMP Live Chat service at gmp.police.uk, quoting log 1205 of 14/01/25, or alternatively, you can contact Crimestoppers on 0800 555 111.
Emily Sergeant -
15th September 2022 
