Patagonia

PRNewswire/ -- Eastman, maker of Naia™ Renew sustainable fibers and yarns, announces that it has collaborated with Patagonia® to offer a limited run of...

With the purpose of enhancing the quality of life in a material way, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. It's a future-focused fiber made with the next generations in mind — one that doesn't compromise on the quality of the garment or the health of our planet." Naia™ Renew ES is made from a combination of molecularly recycled waste material (40%), recycled cellulose (20%) and renewable wood pulp (40%). Patagonia's Workwear line is a Fair Trade line of apparel made for people who work hard daily to make the planet a better place to live, perform and produce. Founded in 1920, Eastman is a global specialty materials company that produces a broad range of products found in items people use every day. Furthermore, Eastman has partnered with Canopy to demonstrate its ongoing commitment to sustainable forestry management. "Patagonia has always been a company that chooses its fibers carefully and responsibly," said Ruth Farrell, Eastman textiles general manager. Eastman has aligned its entire forestry supply chain with Forest Stewardship Council® (FSC®) sourcing standards, including controlled wood procedures. The remaining 40% recycled content* comes from Eastman's cutting-edge molecular recycling technology that breaks down hard-to-recycle waste materials like plastic packaging and old carpet into fundamental building blocks to produce the acetic acid used to make cellulose acetate yarn and fiber. Eastman holds FSC® (C140711) and PEFC™ Chain of Custody certifications, and all its suppliers hold internationally recognized forestry certifications as well. This innovation is made possible through Eastman's continuous efforts to collaborate with eco-conscious partners throughout the value chain. Named for its enhanced sustainability, Naia™ Renew ES is made with 60% recycled content.

Yvon Chouinard, the billionaire founder of outdoor apparel maker Patagonia, is giving his $3 billion company away for a greater cause: fighting climate ...

[recognized Patagonia](https://www.unep.org/news-and-stories/press-release/us-outdoor-clothing-brand-patagonia-wins-un-champions-earth-award) for its commitment to environmental sustainability and advocacy. The company, which Chouinard founded in 1973, is worth $3 billion, [according to the New York Times.](https://www.nytimes.com/2022/09/14/climate/patagonia-climate-philanthropy-chouinard.html) "Despite its immensity, the Earth's resources are not infinite, and it's clear we've exceeded its limits," Chouinard wrote on Wednesday. As part of those efforts, Patagonia sources eco-friendly clothing materials and annually donates 1% of its total sales to grassroots activists. [net worth](https://www.forbes.com/profile/yvon-chouinard/?list=rtb/&sh=2a3f5d474fb5), as of Thursday morning. He was also a craftsman who made climbing gear and apparel for himself and his friends. In the 1960s, he was a pioneering rock climber in California who lived out of his car and ate damaged cans of cat food he purchased for 5 cents apiece, the Times reported. We needed to find a way to put more money into fighting the crisis while keeping the company's values intact." We can save our planet if we commit to it." "The Patagonia Purpose Trust ... The two entities will ensure that all of Patagonia's profits go toward combating the climate crisis and protecting undeveloped land across the world, the company announced on Wednesday. [expects](https://www.patagoniaworks.com/press/2022/9/14/patagonias-next-chapter-earth-is-now-our-only-shareholdera) to generate and donate roughly $100 million in profits annually, depending on the health of the business, the company said.

"Instead of extracting value from nature and transforming it into wealth for investors, we'll use the wealth Patagonia creates to protect the...

These purpose trusts are likely to continue to grow in popularity over time," he added. “As Patagonia’s new structure has shown, there is a very real opportunity that exists for trusts in general, and leading trusts jurisdictions, to help families cement their agreed purpose and values through the use of purpose trusts to own and administer assets. The trust will be overseen by members of the family.

Yvon Chouinard, billionaire owner of Patagonia, is giving away the company to a new nonprofit fighting the climate crisis.

He told the Times that he hopes "this will influence a new form of capitalism that doesn’t end up with a few rich people and a bunch of poor people." The Times reports Patagonia has already donated $50 million to the Holdfast Collective. The change in leadership will be seen via the Patagonia Purpose Trust, who will possess "additional stewardship", according to Patagonia's Q&A section. The Chouinards donated 2 percent of their voting stock to the specially created Patagonia Purpose Trust, which the Times reports will be overseen by family members and their advisors. "It’s been nearly 50 years since we began our experiment in responsible business, and we are just getting started. The founder and his team decided against selling the company or taking it public.

According to The New York Times, Chouinard, 83, once lived out of his car and ate cans of cat food to survive, and even today, he drives an old car and ...

His children will remain associated with the company, as employees on its payroll, but no share of any of the profit in the future will go to them. The funding for Holdfast Collective will come from Patagonia, and all profits the business makes each year will be used to fight climate change. For now, the Chouinard family has given away all its assets to two different firms. But he feared that a public company would not be able to focus on Patagonia workers’ well-being and also fund climate action, according to the NYT. Even today, he drives an old car and doesn’t have a computer or a cell phone, according to the report. Now, Chouinard, his wife and two adult children have transferred the company’s entire non-voting stock to a non-profit organisation.

Also everything at Twitter is securities fraud, SPAC buyback tax and a Rick's Cabaret insider sale.

Self-proclaimed craftsman built outdoor clothing company to help climbers and offer 'enjoyable' working conditions.

We all had to come to work on the balls of our feet and go up the stairs two steps at a time. We wanted to have a job where we would be allowed to do that. He kept wearing the top – which was azure blue with two red and one yellow stripes – when back in the US, and his climbing friends asked where they could get one. Some years he spent more than 200 nights sleeping outside, and claims not to have owned a tent until he was almost 40. One year he spent weeks in the Rockies surviving on a case of 5¢ cans of tuna cat food mixed with oatmeal, potatoes, “ground squirrel, blue grouse, and porcupines assassinated à la Trotsky, with an ice axe”. While many people daydream of achieving a nine-zero fortune, for Chouinard it was a sign he had failed in his life’s mission to make the world a better and fairer place. Refusing to let it go, the reporter tried again saying Chouinard was a “very successful businessman” and “somewhere along the way you must have wanted to be a businessman”. All I ever wanted to be was a craftsman.” “I almost always got my limit of 10 lobsters and five abalone.” “Earth is now our only shareholder,” Chouinard, 83, said in a message to staff and customers. The pitons proved very popular with his friends and other climbers. “Being a dirtbag is a matter of philosophy, not personal wealth.

In a modern and sustainable take on Willy Wonka, Patagonia founder Yvon Chouinard (aged 83) is giving away his fortune. But this story doesn't involve any ...

He chose to transfer all of the company’s voting stock to the Patagonia Purpose Trust, a move that allows Chouinard and the family to ensure that their goals of conservation and a sustainable business are effectively being implemented. Patagonia and its owners have a long history of trying to operate in an ethical and environmentally conscious manner. The desire to stay on brand comes at a cost though, as the family is paying $17.5 million in taxes to set up the trust. A survey from [Edelman Trust Barometer](https://www.reuters.com/article/us-davos-meeting-trust/capitalism-seen-doing-more-harm-than-good-in-global-survey-idUSKBN1ZJ0CW) in 2020 found that most people felt capitalism does more harm than good. [like bandits](https://www.cnbc.com/2022/04/01/richest-one-percent-gained-trillions-in-wealth-2021.html#:~:text=The%20top%201%25%20owned%20a,from%2030.5%25%20to%2030.2%25.). [the New York Times](https://www.nytimes.com/2022/09/14/climate/patagonia-climate-philanthropy-chouinard.html) that they’ve decided to flip the switch on capitalism by shirking personal gain. In 2021, the top 1% were able to take advantage of a soaring stock market and make Chouinard isn’t here to disagree with the masses. Chouinard announced Wednesday that he is redirecting his profits to organizations focused on trying to save the environment, specifically funneling his funds to the newly established Patagonia Purpose Trust and Holdfast Collective. As a result, more people have been calling for greater taxes on billionaires, and the government has slowly started to respond as the House Democrats [recently introduced](https://www.cnbc.com/2022/07/29/house-democrats-push-for-bidens-billionaire-minimum-income-tax.html) President Biden’s Billionaire Minimum Income Tax Act. In a modern and sustainable take on Willy Wonka, Patagonia founder Yvon Chouinard (aged 83) is giving away his fortune. I know it can sound flippant, but they really embody this notion that every billionaire is a policy failure.”

Founder Yvon Chouinard structured the transfer of his firm in a way that keeps control within the family and avoids taxes.

The billionaire founder of the outdoor fashion retailer Patagonia says he has given away his company to a charitable trust. Yvon Chouinard said that under a ...

Mr Chouinard is not the first entrepreneur to give wealth away. Instead, the Chouinard family, which always owned the company, has transferred it to two new entities. But he said both options would have meant giving up control of the business.

Patagonia owner Yvon Chouinard is making waves for giving away his $3 billion company. See the founder's net worth, plus details about his business and ...

"I didn't know what to do with the company because I didn't ever want a company," he said to the NYT. "I didn't want to be a businessman. To do this, the Chouinard family transferred 2% of its voting stock into a Patagonia Purpose Trust to oversee and ensure that the brand stays true to its values. Patagonia operates out of Ventura, Calif., and will remain a private, for-profit business to continue generating wealth that will be used exclusively to help the environment. [letter to Patagonia customers](https://www.patagonia.com/ownership/?utm_source=em&utm_medium=email&utm_campaign=091522_new_owner) announcing the plan, and his passion for sustainability never dwindled even as Patagonia grew. The remaining 98% of the family's shares will go to its new Holdfast Collective nonprofit to fight climate change. Together, they have never wavered in their goal to do good and give away what they can. "We are going to give away the maximum amount of money to people who are actively working on saving this planet." "I don't have $1 billion in the bank. They have two children, Fletcher and Clare. "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." He started making climbing gear and clothing for his friends, then launched Patagonia in 1973.

Yvon Chouinard built an empire with his outdoor gear brand Patagonia, but the nature enthusiast has never done business like anyone else.

But the entrepreneur drives a beat-up old Subaru. Back in the United States, others asked where they could get one. He moved to California in 1946. Patagonia officially launched in 1973. And since then, "his vision has never wavered," she said in a statement announcing Patagonia's next phase. "It's as difficult for me to say those words as it is for someone to admit being an alcoholic or a lawyer." Yvon Chouinard built an empire with his outdoor gear brand Patagonia, but the nature enthusiast has never done business like anyone else. "Yet business can produce food, cure disease, control population, employ people, and generally enrich our lives. "While he is in good health now, he wanted to have a plan in place for the future of the company and the future of the planet." Chouinard was born in 1938 in the northeastern US state of Maine, to a French-Canadian father from Quebec and a mother he described as "adventurous." He created Chouinard Equipment in 1965 with a partner, which quickly became a reference group in the climbing world. The company has given the equivalent of one percent of its sales to environmental groups every year since 1985, and it was one of the first clothing brands to switch entirely to organic cotton in 1996.

If there were more Yvon Chouinards, humans might be doing a better job of battling global warming. Such sentiments are doing the rounds on social media ...

As part of the deal, Chouinard and his family have transferred all stock with voting rights to the Patagonia Purpose Trust. As a result, all company profit will go to a non-profit entity which will spend it to fight climate change. But behind it is a more responsible approach to managing a business than forcing ESG issues into unneeded siloes. [New York Times](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.nytimes.com%2F2022%2F09%2F14%2Fclimate%2Fpatagonia-climate-philanthropy-chouinard.html&data=05%7C01%7CThomas.Shum%40thomsonreuters.com%7Cca957e5b0b794b02ef9e08da97857df9%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C637988896862882635%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=0soxmY0eahtxllxcIxdEw1qqfhTOKk57QNzUJvcQHYg%3D&reserved=0). Chouinard, for example, wants to steer more money towards protecting the planet. [gaining](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.breakingviews.com%2Fconsidered-view%2Fesg-acronym-is-due-for-a-spin-off-of-its-initials%2F&data=05%7C01%7CThomas.Shum%40thomsonreuters.com%7C12ba5feb1f94448ec17e08da97855fa6%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C637988896342764716%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=7rGTOGnZMQMotgzwKe3Vsm%2BhNlA6YXAEGAdHStxluv8%3D&reserved=0) [traction](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.economist.com%2Fleaders%2F2022%2F07%2F21%2Fesg-should-be-boiled-down-to-one-simple-measure-emissions&data=05%7C01%7CThomas.Shum%40thomsonreuters.com%7Cca957e5b0b794b02ef9e08da97857df9%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C637988896862882635%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=Te8EliFCg8qAY83FBgJ%2BmOstFIGBZHhsqT9%2FLhV3ncc%3D&reserved=0). Forcing companies to pick between the three concepts would also create unnecessary dilemmas. In practice, all three should form an integral part of a fund manager’s overall analysis. Sustainable Investment Forum, sit in funds run by managers from BlackRock [(BLK.N)](https://www.reuters.com/companies/BLK.N) to AllianceBernstein that claim to include ESG considerations in their investment decisions. Yet he could have built a bigger war chest more quickly by selling the company. [revealed](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.patagonia.com%2Fownership%2F&data=05%7C01%7CThomas.Shum%40thomsonreuters.com%7Cca957e5b0b794b02ef9e08da97857df9%7C62ccb8646a1a4b5d8e1c397dec1a8258%7C0%7C0%7C637988896862882635%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=oFsaLV8F8tAQXVWGAD3cBopoY%2F8rZNSFRYYG0du0pR4%3D&reserved=0) on Wednesday that he has ceded control of his outdoor clothing firm. MELBOURNE, Sept 16 (Reuters Breakingviews) - If there were more Yvon Chouinards, humans might be doing a better job of battling global warming.

Chouinard has transferred ownership of the $3bn outdoor apparel brand to an environmental trust and a nonprofit organisation. Every dollar not reinvested ...

Chouinard closed off his letter saying, "If we have any hope of a thriving planet - much less a thriving business - 50 years from now, it is going to take all of us doing what we can with the resources we have. "One option was to sell Patagonia and donate all the money. The Holdfast Collective owns all the nonvoting stock (98% of the total stock), and it will use every dollar received from Patagonia to protect nature and biodiversity, support thriving communities and fight the environmental crisis. As we began to witness the extent of global warming and ecological destruction, and our own contribution to it, Patagonia committed to using our company to change the way business was done." It will help ensure that there is never deviation from the intent of the founder and to facilitate what the company continues to do best: demonstrate as a for-profit business that capitalism can work for the planet. We believe this new structure delivers on both and we hope it will inspire a new way of doing business that puts people and planet first.”

The American clothing brand Patagonia is worth billions, but its founder Yvon Chouinard is giving it all up to help fight climate change.

Chouinard is reportedly worth around $1.2 billion but has always shied away from the “billionaire” label. According to BBC, profits to be donated to climate causes will come to around $100 million but is dependent on how well the company is doing. While Chouinard is known for his love of rock climbing, it’s his passion for the environment that has transformed his company into the environmentally-conscious brand it is today.

Patagonia's billionaire founder has been praised for giving the company away to help fight climate change. Yvon Chouinard, who founded the outdoor apparel ...

This means shares can’t be sold at a profit or owned by people outside the firm, and no profits can be taken out of the company. Now I want to know, which companies will be next to step up?” adds fellow director Dr. “Patagonia has been breaking the mold for decades, and now they have shattered it. Employees were first to hear of the change at a global town hall event on 14 September. [Ecosia](https://www.euronews.com/green/2021/09/01/how-to-tell-the-difference-between-tree-planting-schemes-and-scams), Christian Kroll, welcomed the “fantastic news” from Patagonia. In fact, the Chouinards will face a tax bill from the donation. “I believe this plan that he and his family helped create is tectonic. [fire](https://www.euronews.com/green/2022/08/07/death-divorce-and-depression-firefighters-on-the-frontline-of-europes-climate-crisis),” said chair of the board Charles Conn. [capitalism](https://www.euronews.com/green/2022/02/28/today-s-ipcc-report-proves-green-capitalism-doesn-t-work-says-climate-expert) can work for the planet. It will continue to give this percentage to ‘grassroots activists’. [biodiversity](https://www.euronews.com/green/2022/01/25/biodiversity-loss-is-as-big-of-a-threat-as-climate-change-but-90-of-brits-don-t-see-it), support thriving communities and fight the environmental crisis.” [Yosemite](https://www.euronews.com/green/2022/07/11/worlds-oldest-trees-threatened-by-huge-wildfire-ripping-through-yosemite-national-park) National Park.

Little Black Book, LBB's Addison Capper speaks to sustainability and strategy experts from Wunderman Thompson, McCann Worldgroup, DDB, Purpose Disruptors, ...

With more examples like this, the growth-at-all-costs and profit-only business approach is going to start to look a bit old-fashioned. If brands have a purpose or want to show purposeful intent when they connect with consumers, they need to align marketing with authentic values and operations. He’s passed the baton on to us and all the other brands that need to step up. You don’t need to be a billionaire to make change that counts. The joy of Patagonia is that it has never been afraid to do what they know is right, and have been bold enough to pave the way for others. We’re surrounded by businesses, brands and billionaires using values and purpose only as long as they don’t get in the way of shareholder profits. While Patagonia has been rooted in sustainability, the truth is that every brand has a role to play in the effort to make our planet and ourselves healthier. This step feels like the logical next step in its evolution, but at the same time came as a surprise in the very best of ways. Today, the company’s purpose is stated as ‘We’re in the business to save our home planet’. This is our role in the climate crisis – let’s bravely follow Patagonia’s example and leave our footprint without leaving a mark. Those brands that commit to the fight and general real impact will forge the ties that bind with people and planet alike. In a welcomed but unique spin on capitalism, the long-time advocate for sustainability has decided to dedicate all of Patagonia’s profits to fighting the climate crisis, instead of lining his pockets.

Yvon Chouinard, the billionaire founder of the outdoor clothing company Patagonia, announced on Wednesday that he, his wife, and their children had decided ...

joked a [Washington Post](https://www.washingtonpost.com/opinions/2022/09/15/patagonia-give-away-billionaire-satire/) opinion writer. [The Cut](https://www.thecut.com/2022/09/patagonia-founder-gives-away-company.html). "My feed is full of the Patagonia news. A day after the announcement, a note of sobriety entered the discourse. It is one of the largest (Patagonia makes profits of approximately $100 million a year) and most unusual philanthropic gifts (despite its new mission, Patagonia will remain a for-profit company) in recent memory. The response to Chouinard's announcement was almost universally ecstatic.

As summer is coming to an end, it's time to start getting your winter wardrobe together. While you could definitely grab the cheapest thing on the shelf, ...

Patagonia is a brand known for high-quality products, but they usually also come with top-tier price tags. As summer is coming to an end, it’s time to start getting your winter wardrobe together. Patagonia is currently selling their