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Patagonia founder gives company away to environmental trusts
by Matt Ott and Glenn Gamboa
The Associated Press Translate This Article
18 September 2022
On 18 September 2022 The Associated Press reported:
Outdoor gear company Patagonia says 'the earth is now our only shareholder' after transferring the company's ownership from founder Yvon Chouinard and his family to two nonprofits established to fight climate change.
Global Good News service views this news as a sign of rising positivity in the fields of science and business, documenting the growth of life-supporting, evolutionary trends.
In a letter posted on the 50-year-old company's website Wednesday night, Chouinard said Patagonia would transfer 100 percent of its voting stock to the Patagonia Purpose Trust, created to uphold the values of the company long known for its environmental activism. All of its nonvoting stock will go to the Holdfast Collective, a nonprofit 'dedicated to fighting the environmental crisis and defending nature.'
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