The creator of Patagonia donates $3 billion to a firm to combat climate change.
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Yvon Chouinard, creator of Patagonia, battles climate change.has abandoned its multi-billion dollar company and redirected its revenues.
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Patagonia, one of the most well-known manufacturers of outdoor apparel and equipment, could easily go public.
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Chouinard, 83, and his family are giving a nonprofit organisation called the Patagonia Purpose Trust and Holdfast Collective their share of the business.
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This will allocate the business's yearly proceeds to environmental causes.
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In an open letter issued on Wednesday, Chouinard stated that "Earth is now our lone stakeholder."
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During the 2020 election, Patagonia sold clothing with tags reading "Vote the donkeys out," referring to politicians downplaying the threat of climate change.