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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Former Manchester police officer jailed after sexually assaulting a child while on duty
Emily Sergeant
A former Manchester police officer has been jailed after pleading guilty to sexually assaulting a child while he was on duty.
Greater Manchester Police (GMP) explained that, on 29 December 2023, Dean Dempster was one of three officers responding to a domestic incident involving an adult and children, and it was while he was taking an account from a six-year-old girl, away from his colleagues, that he sexually abused her when he should have been there to protect her.
After GMP investigated a complaint received later that evening in relation to the incident, Dempster was immediately confronted by his supervisor when he returned to duty the next morning.
The 35-year-old was arrested that day by officers in Oldham, and then “relentlessly pursued” by GMP’s Professional Standards Directorate to “explore any further evidence of offending” in an investigation directed by the Independent Office for Police Conduct (IOPC).
A former officer has been jailed for sexually abusing a child on duty last year.
Swift action from local officers made sure Dean Dempster never stepped foot in the community again.
Our unit for professional standards has brought Dempster to justice for his despicable crimes. pic.twitter.com/IN2HQOHQEw
A review of Dempster’s electronic devices revealed “further serious offending”, GMP revealed, including the making of indecent images of children.
Sadly, the police investigation also found images on Dempster’s mobile phone taken from his body-worn video camera at the incident in December 2023 of a second clothed child, and of another clothed child at a separate incident dating back to 2022 – with the victims of both families having been made aware, and kept updated throughout the investigation
Dempster was convicted and sacked “at the earliest legal opportunity” by the Chief Constable at an accelerated misconduct hearing in May this year, and he has since admitted six counts of making indecent images, and two counts of Misconduct in Public Office.
After pleading guilty, the former officer has now been jailed for nine years, and has also been ordered to sign the sex offenders’ register for life.
Deputy Chief Constable, Terry Woods, said Dempster “represents the very worst of society”.
“He is not a police officer, he is a child sex offender, a criminal, and he has no right to be near police uniform or serve the public,” DCC added. “Dempster was rightfully arrested and charged before he could ever work in our communities again.”
Featured Image – GMP
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Manchester’s libraries will become ‘warm spaces’ with free hot drinks and Wi-Fi again this winter
Emily Sergeant
Manchester’s libraries are set to become ‘warm spaces’ offering free hot drinks and internet access to those in need again this winter.
After tens of thousands of local residents visited the “stigma-free safe spaces” to escape and take refuge from the cold back in both 2022 and 2023, Manchester City Council has decided to reintroduce its popular ‘Warm Welcome Spaces’ scheme again this year during the chillier months.
22 libraries across Manchester are, once again, taking part in the scheme this time around.
Designed to “provide support to people who need it” over some of the most challenging months of the year when temperatures drop, the Council’s scheme is offering a range of different services – and they’re all for free of charge.
Manchester’s libraries are becoming ‘warm spaces’ with free hot drinks and Wi-Fi this winter / Credit: Flickr | Geograph
Free hot drinks, Wi-Fi and internet access, data SIM cards, and newspapers are just some of the things people can make the most of inside these ‘warm spaces’, as well as get access to information, advice, and extra signposting to other support services they made need in the city.
There will be age-friendly spaces to connect with others, story times once a week at 11am for children under five, and even weekly digital drop-ins too.
Manchester Central Library, Miles Platting Community Library, Hulme High Street Library, Beswick Library, Longsight Library, and Abraham Moss Library are just some of the libraries taking part this winter.
Winter is a challenging time for households, but your library has something for everyone.
They are warm welcoming spaces to have a chat, get advice and get a data SIM to get online.
All 22 libraries will be free to enter, and the Council says people can stay in them “for as long as you like”.
“Heading towards winter, we are very much aware that the cost of living crisis still continues to affect many families across Manchester,” explained Councillor Bev Craig, who is the leader of Manchester City Council.
“This is why, more so than ever, we as a Council continue to do our upmost to support people who may be struggling.
“Our participation in the Warm Welcome Spaces programme, combined with our Cost of Living support package shows we are committed entirely to helping any many people as possible during this difficult period.”
Find your local free ‘Warm Welcome Space’ in Manchester here.
Emily Sergeant -
15th September 2022 
