Patagonia Donates $10m Tax Cut to Eco Charities
Having strongly opposed president Trump's executive order to reduce the size of two national monuments in Utah, US outdoor brand Patagonia has now publicly rejected the Republican administration's corporate tax reductions.
In a brisk statement shared on professional networking platform LinkedIn, chief executive Rose Macario announced the company would be donating the equivalent of its $10m tax cut to groups working to protect the environment and solve the climate crisis.
"Being a responsible company means paying your taxes in proportion to your success and supporting your state and federal governments, which in turn contribute to the health and wellbeing of civil society," she wrote. "Instead of putting the money back into our business, we're responding by putting $10m back into the planet. Our home planet needs it more than we do."
This is a legitimate concern for Patagonia – after all, the "air, land and water" it seeks to preserve are the very elements its products are designed for: no great outdoors, no natural habitat for its brand. Additionally, the announcement referenced findings from the most recent climate assessment report and the economic damage projected therein. Private corporations cannot make up for policy gaps – but at least Patagonia is putting its money where its mouth is.
For more on how brands can use and grow their platforms in an age of anxiety, check out Surviving the Post-Truth Era, our report from Social Media Week London; and Creating Shared Value: Sustainability Marketing.