Patagonia's founder transfers ownership into two entities to help fight the climate crisis | CNN Business

Patagonia is a private company based in Ventura, California, that sells outdoor apparel and equipment. Yvon Chouinard founded the company in 1973. Patagonia said in a press release on Wednesday that, effective immediately, Chouinard and his family will transfer their entire ownership stake into two newly created entities. Those entities will ensure that the company’s values will continue to be upheld — and that Patagonia’s profits are used to combat climate change.

This trust will create a permanent legal structure so that the company can never deviate from Chouinard’s vision: That a for-profit business can work for the planet. “Two years ago, the Chouinard family challenged a few of us to develop a new structure with two central goals,” said Patagonia CEO Ryan Gellert in the press release. “They wanted us to both protect the purpose of the business and immediately and perpetually release more funding to fight the environmental crisis.

Lol then he’s a dope… man made climate crisis is a lie.

I would too if I had the $$$. All the wealthy people who fight climate change traverse the world on chartered planes, travel in motorcades, and get to live in a house with a larger carbon footprint than many small towns.

Good

Great move💪🏼

Tax dodge

BoycottCNN - jaketapper you are a sell-out and a disgrace!

Patagonia belongs to the Zionist Jews ! & will stay .

Surprised you even acknowledge climate change, cnn 🙄

Peak oil is real. The 'CO2 crisis' is not real. Peak oil has likely happened.🛑It means the global economy will crash. Then also the consumption of fossil fuels crash. The era of oil is ending on its own now.⚡️

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