Ryan Gellert, CEO of Patagonia.
Courtesy of Patagonia

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.

More from TIME

A weekly newsletter featuring conversations with the world’s top CEOs, managers, and founders. Join the Leadership Brief.

More Must-Reads from TIME

Contact us at letters@time.com.

Major League Baseball
Kim Kardashian Loves Your Body
Novo Nordisk
Kia America