An environmental non-profit has received a $3 billion donation from Patagonia’s owner.
The US reseller of outdoor apparel was established in 1973 by Yvon Chouinard, 83. He recently declared that the corporation would utilize any profits that were not reinvested to combat the climate catastrophe.
With the help of his wife and two kids, he has reorganized the business to enable it to turn a profit while still making donations.
“Each year, the money we make after reinvesting in the business will be distributed as a dividend to help fight the crisis,” Chouinard wrote in an open letter on the company’s website.
“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.”
“Earth is now our only shareholder” states the company website.
Chouinard is estimated to be worth $1.2 billion. But he’s admitted in the past that he “never wanted to be a businessman.”
What are the environmental effects of the fashion industry?
Around 10% of greenhouse gas emissions are considered to be related to fashion. Additionally, it accounts for around 20% of wastewater.
It has also been noted as a significant river polluter. In 2021, it was discovered that fast fashion retailers were to blame for some African rivers becoming blue. According to a report, the water had become as alkaline as bleach.
Additionally, each year, almost 85% of all textiles are thrown away. Every second, enough clothing is thrown away to fill one garbage truck. Many of these are manufactured from synthetic materials like nylon or polyester, which cannot decompose.
Patagonia has previously drawn attention to the expanding waste crisis. The company made headlines in November 2011 when it released an advertisement with the tagline “Don’t Buy This Jacket.”
The advertisement, which appeared in the New York Times, aimed to draw attention to the problem of excessive garment consumption.
It detailed all the environmental expenses associated with making the aforementioned jacket and urged readers to consider their purchase carefully.
Patagonia’s environmental history
Customers who care about the environment have always favored Patagonia.
89 percent of the fabrics from this season, on the company’s website, were created using “preferred materials” that are more environmentally friendly.
Cotton, spandex, and NetPlus®, a material composed completely of recycled fishing nets, are just a few of the recycled materials that Patagonia employs in its clothing line.
However, some of the clothing in the brand’s collection does contain wool and down feathers, making it not totally vegan.
Source: “Owner Of Patagonia Gives Away $3 Billion Company To Help Fight The Climate Crisis” by Plant Based News
Vkind is the U.S.’s largest fully-vegan search platform and listing app. Give our search tool a whirl and find any vegan product, service, or experience you desire.
HOW TO GET INVOLVED
LEARN ABOUT PEELED, OUR BRAND NEW TV SHOW: VKind is making VEGAN HISTORY by introducing the first and only all vegan cast cooking competition TV show! Be sure to visit our new Peeled website for the latest news, contests, giveaways, and raffles. Visit PeeledShow.Com now to learn more!
CONTESTS & GIVEAWAYS: Be the first to hear about our latest Giveaways, Contests, and Raffles by following us on Instagram where all of our giveaways are featured.
WATCH & LEARN: We have so much exciting content on our YouTube channel with some amazing new shows! Subscribe to our YouTube channel for our latest shows, live events, interviews, videos, news, secret giveaway contests & more!
GET FEATURED: We would love to publish & promote your delicious vegan recipes on our App, websites, and social media channels. Submit your recipes here!
ADD YOUR LISTING: Are you ready to attract customers and clients hyped on your values and what you offer? We’re all about opening up more possibilities to support small to medium-sized vegan businesses, professionals, and companies, like YOU. Add your listing now!
SUBSCRIBE FOR THE LATEST NEWS: Get exclusive access to the latest vegan businesses, events, and plant-based news hot off the press. Subscribe to our Newsletter.