CEO Rose Marcario has announced her company will donating $10 million dollars to combat climate change.
In letter posted to LinkedIn, Patagonia’s CEO announced her company is donating o non-profit groups who work on issues related to climate change and the environment. The money will be coming from the tax break Patagonia received under Trump’s tax reform bill. Under the new policy, Patagonia will be paying $10 million dollars less in taxes.
“Based on last year’s irresponsible tax cut, Patagonia will owe less in taxes this year—$10 million less, in fact,” CEO Rose Marcario writes. “Instead of putting the money back into our business, we’re responding by putting $10 million back into the planet. Our home planet needs it more than we do.”
Marcario referred to the government’s own newly released report on climate change,
“Our home planet is facing its greatest crisis because of human-caused climate disruption. All the extra heat we’ve trapped in the earth’s atmosphere is not only melting the poles and raising sea levels, it’s intensifying drought and accelerating the extinction of species. The most recent Climate Assessment report puts it in stark terms: the U.S. economy could lose hundreds of billions of dollars, and the climate crisis is already affecting all of us. Mega-fires. Toxic algae blooms. Deadly heat waves and deadly hurricanes. Far too many have suffered the consequences of global warming in recent months, and the political response has so far been woefully inadequate—and the denial is just evil.”
“Taxes protect the most vulnerable in our society, our public lands and other life-giving resources,” she added. “In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet.”
Patagonia isn’t new to environmental causes. Their “1% for the Planet” program donates profits to environmental projects around the world.
A note on their company site claims Patagonia has donated more than $89 million to such causes since the program first launched.
And CEO Marcario was singled out by the White House, Barack Obama’s White House that is, back in 2015 for her efforts to protect the environment.
In response to the Republicans approach to climate change, Bloomberg notes that Patagonia is getting increasingly political.
In 2017 Patagonia sued the Trump administration for getting rid of protections on roughly 2 million acres of land in Utah’s Bears Ears and Grand Staircase-Escalante national monuments. “It was the biggest elimination of public lands in a pen stroke,” Marcario says. “We’ve been protecting wilderness for decades and our customers respect nature, so if the current administration wants to sell off our cultural heritage to the highest bidder, then we’re going to do everything we can to fight it.” This year the brand also launched Patagonia Action Works, a platform customers can use to find and support environmental nonprofits based on issue and location.
In 2018, Patagonia formally endorsed two Democratic Candidates for the U.S. Senate during the 2018 midterm elections. Both candidates won. And seeing as money and politics are the two measurements of power most at the forefront of Trump’s thinking, Patagonia’s latest message is something he and his allies should take note of.