Outdoor clothing brand Patagonia has announced it will give away the US$10m in unplanned cash it saw as a result of what it called “last year’s irresponsible tax cut” to environmental groups.
The company says it will donate the sum to grassroots activist organisations, the likes of which it has funded since 1985 as part of its commitment to 1% for the Planet.
The international organisation sees members contribute 1% of annual sales directly to any of the approved non-profit environmental organisations in the network. Non-profits are approved based on referrals, track record and environmental focus. Thousands of non-profits worldwide are currently approved.
“This additional $10m will go a long way for the groups defending our air, water and land,” says Patagonia. “It will also include support for the regenerative organic agriculture movement, which we think will not only slow the climate crisis but could begin to reverse it.”
Founded by Yvon Chouinard in 1973, Patagonia is based in Ventura, California. A certified B Corp, Patagonia’s mission is to build the best product, cause no unnecessary harm and use business to inspire and implement solutions to the environmental crisis. The company is recognised internationally for its commitment to authentic product quality and environmental activism, contributing more than $100m in grants and in-kind donations to date.