Environmental Trust Fund.

[Mechanic-AL]

Yvon Chouinard, the founder of Patagonia has announced that any profit not reinvested in his company will now go into a charitable trust to fund environmental campaigns in perpetuity. This is a company worth 3 billion USD (4.4 billion AUD ). I'm not sure what the criteria is for an organization to receive a dividend from the trust but assuming the bulk of the money will be put towards genuine concerns then that is a fairly sizeable donation to protecting the planet.

As is the case with almost everything though there are 2 ways of looking at this. There seems to be a large number of sceptics out there who think this is a blatant case of green washing simply for the benefit of the company. Personally I think the future of the enviroment is in the hands of people like Yvon Chouinard who have sufficient resources to make some real difference. If we wait for our political leaders to take any real action we're screwed.

I would like to believe that Patagonia are doing this for all the right reasons. Just wondering how others might see this ?

[tastrax]

The biggest thing for me is the transparency behind these trusts. Will the public be able to see where the funds are spent and how are projects selected (and by whom). It can be a good thing if handled well but in some cases its just a way to avoid taxes and scrutiny.

https://www.nytimes.com/2022/09/16/busi ... taxes.html

[tastrax]

if you would like to support the long term funding of significant reserves in Tasmania then here is a good foundation that is transparent in how it deals with funds received (Yes, I am a donor)

https://tasland.org.au/the-tlc-foundation/

[Mechanic-AL]

if you would like to support the long term funding of significant reserves in Tasmania then here is a good foundation that is transparent in how it deals with funds received (Yes, I am a donor)

https://tasland.org.au/the-tlc-foundation/

A very brief step ahead of you on that one Tastrax. I have just received a draft copy of my first will. When I began researching non-profit organizations that I could bequeath some money to that would be of benefit to our environment The Tasmanian Land Conservancy was one name that was consistently mentioned. Happy to say I will be signing off my will sometime this week.

When Donald Trump reduced business tax Patagonia estimated they had saved around 13 million for the year. They donated that 13 million to environmental trust funds around the globe. At face value that doesnt seem to the actions of a company that are slipping funds under the counter to reduce their tax bill. I maybe a bit naive but in a world full of bad news at the moment I'm trying to be a bit 'glass half full' about this one.

( my only connection to Patagonia is a single pair of battered old rock climbing pants that have served me well).

[Dexter]

if you would like to support the long term funding of significant reserves in Tasmania then here is a good foundation that is transparent in how it deals with funds received (Yes, I am a donor)

https://tasland.org.au/the-tlc-foundation/

A very brief step ahead of you on that one Tastrax. I have just received a draft copy of my first will. When I began researching non-profit organizations that I could bequeath some money to that would be of benefit to our environment The Tasmanian Land Conservancy was one name that was consistently mentioned. Happy to say I will be signing off my will sometime this week.

When Donald Trump reduced business tax Patagonia estimated they had saved around 13 million for the year. They donated that 13 million to environmental trust funds around the globe. At face value that doesnt seem to the actions of a company that are slipping funds under the counter to reduce their tax bill. I maybe a bit naive but in a world full of bad news at the moment I'm trying to be a bit 'glass half full' about this one.

( my only connection to Patagonia is a single pair of battered old rock climbing pants that have served me well).

Same as you. Perhaps we are just optimists but I like to believe they want to do the right thing. They have actively encouraged people not to buy anything they don't need from their own company. As far as I have seen they are going to be one of the first companies to utilise ePE gore-tex. It seems (at least on face value) far more than just empty virtue signalling to elevate the company.

But yes - transparency is the key here. It will be interesting to see what they share with the public.

[tom_brennan]

Patagonia will also repair their gear for free, after it's out of warranty, and will recycle gear once it gets beyond repair. Given their stance across the board, it's hard to argue that they're greenwashing.