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Patagonia's founder gives multi-billion dollar company away in effort to combat climate change

Its founder says ‘Earth is now our only shareholder’.

PATAGONIA’S FOUNDER HAS given away his multi-billion company to a non-profit organisation in an effort to combat climate change.

Its founder Yvon Chouinard says “Earth is now our only shareholder”.

“If we have any hope of a thriving planet, much less a business,” he added, “it is going to take all of us doing what we can with the resources we have.”

The move will see ownership of the outdoor clothing company, valued at around $3 billion, to the Holdfast Collective, a nonprofit “dedicated to fighting the environmental crisis and defending nature”.

‘Ecological destruction’

In an open-letter announcing the change in ownership, Chouinard explained: “Each year, the money we make after reinvesting in the business will be distributed as a dividend to help fight the crisis.”

Chouinard claims he “never wanted to be a businessman” and that when he began to “witness the extent of ecological destruction, Patagonia committed to using our company to change the way business was done”.

He says the company began to use materials that caused less harm to the environment and gave away one percent of sales each year.

However, while he said the company was doing its best – and will continue to donate one percent of sales – he added that Patagonia needed to “find a way to put more money into fighting the crisis”.

“Truth be told, there were no good options available,” said Chouinard, “so, we created our own.”

Different paths

Chouinard says one option was to “sell Patagonia and donate all the money,” but he expressed concern that the new owners would “maintain our values”.

Another option was to take the company public, but Chouinard claims that would have been a “disaster”, with “pressure to create short-term gain at the expense of long-term responsibility”.

“Instead of ‘going public,’” explained Chouinard, “you could say we’re ‘going purpose’.”

This culminated in ownership of the company being transferred to the Holdfast Collective.

“Each year, the money we make after reinvesting in the business will be distributed as a dividend to help fight the crisis,” said Chouinard.

The Patagonia Purpose Trust, which is “guided” by the Chouinard family, will continue to own all of the voting stock of the company.

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    Mute Patrick Corr
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    Nov 11th 2014, 10:02 PM

    Let that be an inspiration to people who say they can’t do it. Everyone can..

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    Mute Kizzi Yeates
    Favourite Kizzi Yeates
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    Nov 11th 2014, 11:15 PM

    I can’t do it , I have jumped up and down in the bath so many times and it just won’t break ….. ;)

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    Mute Dave Donnelly (Tac)
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    Nov 11th 2014, 10:05 PM

    Well done! Great achievement!!!

    442
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    Mute yorkie robinson
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    Nov 11th 2014, 10:05 PM

    I tip my hat to you .no guts no glory

    434
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    Mute skin flint
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    Nov 11th 2014, 10:09 PM

    Wow! It’s not easy – so you should be very proud! You look fantastic!

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    Mute jolly rodgers
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    Nov 11th 2014, 10:05 PM

    Fair play to her , a wonderful achievement

    329
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    Mute Louise Evans
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    Nov 11th 2014, 10:19 PM

    Amazing comments and compliments across all form of media today about this lady,she must feel amazing reading them all,she must have gone to hell and back to loose all that weight,an amazing achievement

    287
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    Mute Al coholic
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    Nov 11th 2014, 10:18 PM

    Just look at what that girl achieved and ask yourself what’s your excuse.fair play a lot to be said for focus and determination

    169
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    Mute Jason
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    Nov 11th 2014, 10:50 PM

    Hats off to her not easy to lose weight let alone that amount, phenomenal job and she looks fantastic

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    Mute finbarr ocormac
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    Nov 11th 2014, 10:13 PM

    Brilliant for you….

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    Mute Bazalini
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    Nov 11th 2014, 10:16 PM

    U go girl….

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    Mute TheLoneHurler
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    Nov 11th 2014, 10:26 PM

    Brilliant stuff, fair play to her.

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    Mute Unfortunately
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    Nov 11th 2014, 10:27 PM

    Wow what a change she’s hot now.

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    Mute deel
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    Nov 11th 2014, 11:08 PM

    Well done lady !!..keep it up and best of luck in the future x

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    Mute Big Crazy Al
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    Nov 11th 2014, 10:56 PM

    Congrats. Great to hear some good news.

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    Mute Deirdre Graham Geoghegan
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    Nov 11th 2014, 11:13 PM

    What a wonderful brave lady. Congratulations

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    Mute AntiTreeHugger
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    Nov 12th 2014, 12:58 AM

    Well fair play. 20 stone is some weight to lose. That’s a serious achievement. Good advertising for that weight loss programme. I keep losing 1 to 2 stone. I say a prayer to saint anthony and a month goes by and I find it again.

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    Mute Margaret Martin
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    Nov 11th 2014, 11:47 PM

    Your a wonderful person,you look like a model,keep it up.

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    Mute Kizzi Yeates
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    Nov 11th 2014, 10:50 PM

    The bath was so funny lmfao……

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    Mute Kizzi Yeates
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    Nov 11th 2014, 11:11 PM

    I would imagine she chuckles looking back , good for her…..

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    Mute Inntalitarian
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    Nov 11th 2014, 10:33 PM

    You’re dead right Patrick, a decade or so of excessive overconsumption of junk food.l and lack of movement should do it. Consistency is key.

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    Mute Maria Hickey-Fagan
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    Nov 12th 2014, 8:18 AM

    Fantastic achievement. Slimming World is by far the best and most sustainable plan out there. It’s helped me lose the baby weight twice and I’m now back to a weight I haven’t seen since my early twenties. I 100% credit Slimming World with that and believe me I’ve tried every plan and trick and diet pill in the book.

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    Mute Marie
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    Nov 12th 2014, 6:30 AM

    What an inspiration, well done!

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    Mute Pauline Harney Keogh
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    Nov 12th 2014, 8:24 AM

    Well done to her but I wonder did she have to have surgery after to remove any excess skin left over from losing all that weight.

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    Mute MUFC
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    Nov 12th 2014, 3:16 PM

    fair play to her. massive turnaround. impressive stuff

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    Mute Dympna Stapleton
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    Nov 12th 2014, 9:45 PM

    Well done girl! I agree slimming world is by far the best plan out there, I lost two stone and have maintained it 14 months now and I no il never look back. This lady must be thrilled x

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