The climate crisis is one of the most important threats facing the world. Moreover, this threat is deepening every day. Many scientists and environmental activists are making a great effort to draw the attention of all mankind to this issue. Here, a “handover” that took place in the past few days has once again raised the issue of the climate crisis. 83-year-old American businessman Yvon Chouinard donated the ready-to-wear clothing company he founded almost 50 years ago to an institution fighting the climate crisis.
The value of the company called Patagonia is about 3 billion dollars! This donation by Yvon Chouinard and his family is considered one of the boldest steps ever taken against the climate crisis. Let’s look at the details together.
Yvon Chouinard, who has supported the environmentalist movement since he was a teenager, founded a company called Patagonia 50 years ago
The United States-based ready-to-wear outdoor brand has become one of the most important brands in the sector over the years. The adventure that started with Yvon Chouinard’s decision to manufacture climbing clothes for himself and his friends 50 years ago has been instrumental in the emergence of a huge brand that today has hundreds of branches around the world.
Since Yvon Chouinard was also an environmentalist, the company called Patagonia has been known for its eco-friendly slogans and advertisements since its inception. However, Chouinard was aware that being able to combat the climate crisis requires more sacrifices.
Chouinard recently took an important and radical step towards the fight against the climate crisis.
he transferred his company named Patagonia, which is estimated to be worth 3 billion dollars, to an organization that is fighting the climate crisis!
98% of the company’s non-voting shares will be transferred to a non-profit organization called Holdfast Collective
Thus, the company will be able to continue its existence with more environmentally friendly products and applications. In addition, with the income received, climate and environmental problems can be fought within wider possibilities. In the coming period, the company named Patagonia is expected to generate annual net income of around $ 100 million. Since this money will be under the control of a non-profit environmentalist institution, it is thought that it will make an important contribution to the fight against the climate crisis.
On the other hand, 2% of the company was transferred to the newly established foundation called Patagonia Purpose Trust. This foundation, established by the family, will operate in order to preserve and maintain the company’s well-established corporate identity and principles.
Patagonia will continue to be a profit-oriented company, but the family will not be able to own the company after the transfer transactions. Therefore, he will not be able to receive any income from the company. Instead, as explained by Yvon Chouinard, all the company’s revenues will be used to combat climate change.
This remarkable move against climate change was shared with the slogan “now our only shareholder is the World” written on the company’s website
In the letter written by Yvon Chouinard, which was also published on the company’s website, it was also explained how this important decision was made. In his letter, Yvon Chouinard stated that he was considering selling the company and donating all the proceeds he would receive, but he was worried that the new owner of the company would not be able to maintain the company’s values.
However, he said that an initial public offering of the company may also create pressure to make short-term gains and cause the company to move away from its values. For these reasons, the 83-year-old environmentalist businessman has taken one of the most remarkable steps so far in the fight against the climate crisis by donating his company worth $ 3 billion.
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