Category: Patagonia

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Patagonia’s CEO Donated Company’s $10 Million Tax Cut to Fight Climate Change

As much as some people (and organizations) out there would like to bury their heads in the sand and pretend climate change doesn’t exist, it is very real, and its effects are growing more drastic.

Because of the 2018 rewrite of America’s tax laws – a tax code revision that greatly benefited corporations by lowering the corporate tax rate by almost a third for most companies – Patagonia paid $10 million less in taxes that year than it had anticipated. So the company’s CEO, Rose Marcario, decided to donate the $10 million to non-profit groups that are working to fight climate change and help the environment.

Marcario believed the corporate tax cut was not a good thing, and she wrote, “Based on last year’s irresponsible tax cut, Patagonia will owe less in taxes this year—$10 million less, in fact. 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.”

Speaking about climate change deniers, including many in government, Marcario wrote, “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.”

Patagonia has been a friend of the environment for many years now and their website says the company has donated more than $89 million to environmental groups to fight climate change.

Let’s hope that more corporations and individuals make their voices heard about the extreme consequences of climate change that are occurring around us every day. This isn’t something that might happen in the future, this is taking place right now.

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Outdoor Brand Patagonia Will No Longer Sell to Clients Who Wreck the Environment

The Midtown Uniform Instagram page has been amusing its followers for some time now. The page skewers NYC finance bros on the basis of their almost identical style choices – namely, a button-down shirt, slacks, and a Patagonia fleece vest.

The page’s name actually comes from the fact that SO MANY of these professionals wear that exact look that it may as well be considered an official uniform.

 

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I refuse to live in a world where I am killing it with my boys at joshua tree and am forced to go home at 4 am #midtownuniform

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This photo was found next to the term “squad goals” in the dictionary. #midtownuniform

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That may not be the state of things for long, however. You see, Patagonia recently announced that they’ll be ditching clients in the corporate world in favor of clients whose interests more closely align with the company’s new mission to “save our home planet.”

This policy became public after Binna Kim, president of a communications agency named Vested (ironic, right?) tried to place an order of Patagonia vests for a client and received this rejection letter:

Basically, Patagonia is no longer accepting potentially lucrative deals from clients whose businesses support or condone practices that are destroying the environment.

It’s a move that may very well cost the brand quite a lot of money in short-term sales, but in the long run it’s a smart move for the outdoor-friendly company: they are making sure their brand is still associated with the great outdoors.

Talk about putting your money where your mouth is!

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