Energy Magazine October 2022 | Page 12

THE BRIEF

Five years after being listed as one of the world ’ s richest people , Yvon Chouinard has donated all shares in Patagonia to a charity that will use profits to fight the climate crisis . Chouinard , now 83 , founded the outdoor clothing company in 1973 to provide sustainable and functional outerwear for his fellow climbers .

Since then , the Patagonia brand has led the way in making sustainable and ethical manufacturing the ultimate goal of the apparel industry . In contrast to the ‘ greenwashing ’ campaigns of a lot of well-known fashion brands , Patagonia has consistently lived up to its 1 % ‘ earth tax ’ promise , giving millions of dollars to environmental projects over the decades . Now , by giving 98 % of its stock to the nonprofit Holdfast Collective , the company remains loyal to its mission : to make Earth its only shareholder .

Preferring the title “ existential dirtbag ” to “ billionaire businessperson ”, Chouinard has set a new example in environmental corporate leadership .

12 October 2022