There’s corporate philanthropy, and then there’s Patagonia. In September, founder Yvon Chouinard and his family set a bold new standard for how companies can address the climate-change crisis. They effectively gifted the outdoor-clothing retailer’s annual profits (an estimated $100 million) in perpetuity to defend the planet via the Holdfast Collective, a new nonprofit organization that now owns 98% of the private company—and doesn’t plan to sit on dividends. CEO Ryan Gellert continues to lead the company. “If we have any hope of a thriving planet—much less a thriving business—50 years from now, it’s going to take all of us doing what we can,” says Corley Kenna, Patagonia’s head of policy and communications.
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