The sustainable and ethical clothing company Patagonia declared Wednesday it would be donating the $10 million the company will get due to tax cuts this year.
Rather than keeping the cash the company will donate it to environmental impact groups since,”Our home world needs it more than we do,” she said in a post on LinkedIn. The timing of this tax cut could not have been worse,” in a media release.
The company plans to give the cash to groups working to protect the air, water and land.
The money will also help support the regenerative organic agriculture movement, something the company says it hopes could help slow the impact of human activity on the climate.
“Our government continues to ignore the seriousness and triggers of the climate catastrophe. It is pure evil. We will need to double back on renewable energy solutions. We need an agriculture system that supports small family farms and ranches, none that rewards compound companies intent on destroying our planet and poisoning our meals.
And we have to protect our public lands and oceans since they are all we have left,” the creator of Patagonia, Yvon Chouinard, stated according to a release.
The taxation rate for a number of businesses was changed from 35 percent to only 21 percent, which is the category Patagonia drops under. Other firms like pass-through companies got a 20 percent decrease in their taxes. The cuts resulted in trillions less in tax money every year.
“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,” writes Marcario.
“Far too many have suffered the consequences of global warming in recent months, and the response has so far been woefully inadequate.”
This is not the first time that Patagonia has gone the extra mile for the environment – in 2016, the company donated all of its Black Friday income to conservation groups; in 2014, the company converted its entire collection to fair trade-certified products; and in 2009, they started paying their employees to bike to work.
The business either donated 1 percentage or earnings or 10 percent of pre-tax gains. The company will do this as normal, in addition to the extra $10 million. The business also works to support grass-roots activism as soon as possible.