Billionaire gives away his company in fight against climate change

  • 📰 9NewsAUS
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 72%

South Africa News News

The founder of clothing brand Patagonia is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis. 9News

The founder of clothing brand Patagonia is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis.

"Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source." "They wanted us to both protect the purpose of the business and immediately and perpetually release more funding to fight the environmental crisis. 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."

In 2017, the company sued then-President Donald Trump over his administration's move to dramatically shrink two national monuments in Utah.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I remember a time when wealthy people were expect to be philanthropic, it was how decent people behaved. Then the absolute greed of the ERW took over & set a abhorrent example, now these people rip off people’s wages, lower working conditions ect.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 10. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Billionaire gives away his company in fight against climate changeThe founder of clothing brand Patagonia is transferring ownership of the company after nearly 50 years into two entities that will help fight the climate crisis. 9News Going to look pretty silly when he realises that there is NO climate crisis A hero for our planet 🌏🌍🌎
Source: 9NewsSyd - 🏆 23. / 51 Read more »

Patagonia’s billionaire owner gives away company to fight climate crisisFounder Yvon Chouinard announced that all the company’s profits will go into saving the planet
Source: GuardianAus - 🏆 1. / 98 Read more »

'Earth is now our only shareholder': Why the Patagonia founder is giving his company awayYvon Chouinard, along with his wife and two adult children, is transferring the company to a trust and non-profit, saying 'Earth is now the only shareholder'. Read more: Hes lost it Earth is the only shareholder says bloke who covered it in shitty nylon Bravo! And thankyou from and my grandchildren!
Source: SBSNews - 🏆 3. / 89 Read more »