The Future of Patagonia

Charlotte Nelson '23 ~ October 2022

In September 2022, Patagonia released a statement announcing that “Earth is now our only shareholder.” What does that mean for the future of Patagonia?

Patagonia has historically been a company that prioritizes sustainability while making high quality outdoor clothing and gear. To take that mission one step further, the founder, Yvon Chouinard, made the decision to transfer company ownership to the Holdfast Collective and the Patagonia Purpose Trust. The Holdfast Collective “will use every dollar received to fight the environmental crisis, protect nature and biodiversity, and support thriving communities, as quickly as possible. As a 501(c)(4) not-for-profit organization, the Collective can advocate for causes and political candidates in addition to making grants and investments in our planet.” The Patagonia Purpose Trust “owns all of the voting stock of the company, which gives it the right to approve key company decisions, like who sits on the board of directors and what changes can be made to the company’s legal charter, including its reason for being and B Corp commitments.” Chouinard and his family will oversee this department of Patagonia’s ownership.

The company will officially now be owned by Patagonia’s CEO Ryan Gellert.

This unconventional shift of profit distribution provides a paradigm of company pursual of taking a mission one step further. The impending threat of the climate crisis can often create a lack of hope for a healthy planet in the future. If more companies make intentional changes to the way their company uses their profits, a multitude of good can result. In reality, large corporations like Patagonia make millions of dollars a year. When there is a cooperative effort for change, there is a larger pool of wealth to pull from and make more substantial efforts to combat emissions and waste. Patagonia models excellence in sustainability, and more corporations need to hold themselves accountable by acknowledging their impact on the environment and exploring how they can improve to benefit our shared home.

Title Photo: http://https://www.patagonia.com. Kory Baker.

Title Photo: Google Sites