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Patagonia’s Profits Are Funding Conservation — and Politics (www.nytimes.com)

submitted 9 months ago by MicroWave to c/news

4 comments fedilink hide all child comments

$71 million of the clothing company’s earnings have been used since September 2022 to fund wildlife restoration, dam removal and Democratic groups.

A little more than $3 million to block a proposed mine in Alaska. Another $3 million to conserve land in Chile and Argentina. And $1 million to help elect Democrats around the country, including $200,000 to a super PAC this month.

Patagonia, the outdoor apparel brand, is funneling its profits to an array of groups working on everything from dam removal to voter registration.

In total, a network of nonprofit organizations linked to the company has distributed more than $71 million since September 2022, according to publicly available tax filings and internal documents reviewed by The Times.

The gusher of philanthropic money is the product of an unconventional corporate restructuring in 2022, when Patagonia’s founder, Yvon Chouinard, and his family relinquished ownership of the company and declared that all its future profits would be used to protect the environment and combat climate change.

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[–] WeeSheep 16 points 9 months ago

$71 million total donated, only $1 million towards Democrats/politics? Seems pretty nature conservation focused still.