Patagonia is giving its $10 million tax cut back to the planet
Patagonia has never been shy about its activism on behalf of the environment, whether through its 1% for the Planet initiative, giving a percentage of profits to grassroots environmental organizations, calling the president a liar on public lands protection, giving employees election day off, or becoming one of the first commercial brands to publicly endorse political candidates.
Now the outdoor apparel brand is giving back $10 million in tax cuts to grassroots environmental organizations. In a LinkedIn post today, CEO Rose Marcario wrote, “Based on last year’s irresponsible tax cut, Patagonia will owe less in taxes this year. We are responding by putting $10 million back into the planet because our home needs it more than we do.”
She sees any corporate gain from the latest corporate tax cut as dirty money. “Taxes protect the most vulnerable in our society, our public lands and other life-giving resources,” Marcario wrote. “In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet.”
Citing the government’s recent (and bleak) Climate Assessment report, Marcario echoed that the consequences of climate change will cost the U.S. economy hundreds of billions of dollars in the not-so long-term. “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,” she wrote.
Marcario also specifically highlighted the role of regenerative organic agriculture, saying it “may be our greatest hope for reversing the damage done to our overheated planet,” something the company has been investing in through its Tin Shed Ventures fund and its Provisions product line.
“In this season of giving, we are giving away this tax cut to the planet, our only home, which needs it now more than ever.”
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Written by: BY JEFF BEER