How does Patagonia, the clothing brand, fit into Patagonia Works?Patagonia will live under the Patagonia Works umbrella. Soon after, the website Patagonia.com was updated to state that Earth is now our only shareholder and to include a letter from founder Yvon Chouinard. The estimated total pay for a Director at Patagonia is $260,402 per year. 949, 94950, 95461 (Nov. 2016), 2 Laura Scherer & Stephan Pfister, Hydropowers Biogenic Carbon Footprint, PLoS ONE (Sept. 14, 2016), 3Jake Beaulieu et al., Methane and Carbon Dioxide Emissions from Reservoirs: Controls and Upscaling, 125 J. Geophysical Rsch. 0000001931 00000 n We gave away 1% of sales each year. And while there will be more tough days ahead as we challenge norms, I am excited to do the work alongside Patagonias talented and passionate professionals. In contrast, current law requires corporations to prioritize the financialinterests of shareholders over the interests of workers, communities and the environment.In January 2012, Patagonia Inc. was one of the first companies in California to register as a B Corp. Eachcompany under the Patagonia Works will have a common, ethos-led mission and will register as a B Corp toensure that its values live in perpetuity. They wanted us to both protect the purpose of the business and immediately and perpetually release more funding to fight the environmental crisis. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. But this is our time, and as a company we are prepared to lead and to help citizen activists and businesspeople of conscience create a healthier planet for all life. Flexible shipping options are available. With 20 years as an outdoor industry professional, and as a lifelong climber and someone who enjoys biking, running and skiing, she has deep roots in Patagonias sport communities. 0000003003 00000 n Will Patagonia Works wholly own any of the companies it invests in?Not necessarily. Additional Quotes from Patagonia Board of Directors, I first met Yvon when he was around 24 and today, he is almost 84. Patagonia, Inc. operates as an apparel store. And, I am certain we will also have some fun along the way.. Ambitions dont get much bigger than that. Patagonia Inc. Patagonia, Inc. operates as an apparel store. If we want to protect nature and support communities, businesses cant continue to adhere to the prevailing economic model. /E}HMZ)&pRCyDi;8,:n}>t {FUv~S;,.]?mZg^eC0zweubvm!W~.}Anyn;UkfeCU8EjT]>^"k\BMUpI.lXcPcXcPcXcR!%["0[r/,KEEGGGGGGEE___`]"c^nn+,"#4p/Duw !t,c|i4 For example, a scientific study shows that Hoover Dam and Lake Mead emit approximately 12.3 million metric tons of carbon dioxide equivalent (CO2e) annually, while Kentucky Lake annually emits over 1.8 million metrics tons of CO2e.2 Moreover, the collective GHG emissions of dams and reservoirs are significant. Will Patagonia Works continue to donate one percent of sales to grassroots environmental groups?Absolutely. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. Prior to his appointment to this global role, Ryan spent six years as Patagonias general manager of Europe, the Middle East and Africa. Dam and reservoir operations also emit GHGs from several other emission points, including hydropower turbines, spillways, and downstream discharges. 0000008640 00000 n Angling Trade, LLC. This unnecessary production would cause devastating, long-term destruction to the health of the planet and the Western Arctic ecosystem, which supports caribou, geese, loons, salmon, polar bears and bowhead whales, along with Indigenous communities who rely on these traditional food sources. September 14, 2022 0000013972 00000 n In all those years, his vision has never wavered. The company shared the news first with its employees in a global town hall event on September 14, 2022. Bobby L. Rush, ChairmanHouse Subcommittee on EnergyHouse Committee on Energy & Commerce 2125 Rayburn House Office Building Washington, DC 20515, Fred Upton, Ranking MemberHouse Subcommittee on EnergyHouse Committee on Energy & Commerce 2322 Rayburn House Office Building Washington, DC 20515, Re: Hydropower Licensing Reform and Greenhouse Gas Emissions from Hydropower Facilities. OnStrategy facilitated the process to develop Patagonia's 2020-25 strategic direction. No ones expectations of Patagonia are higher than our own. These were adopted by our board of directors and shareholders for each of our US-based primary companies (Patagonia, Patagonias board of directors also made two big changes within the leadership team by elevating Jenna Johnson and Lisa Williams to larger roles. This is not an excuse to ignore the real tension well continue to face between growth and the environmental impact of our operations. Unlike a traditional holding company, whose primary purpose is to reduce risk through diversification of assets, Patagonia Works aims to invest in companies working to bring about positive change in five critical areas: clothing, food, water, energy and waste. 21, 2022). URGENT ACTION ALERT: Montana Stream Access Under Threat, U.S. Supreme Court Decision Upholds New Mexico Public Access Law, Breaking the Mold Bold Move by Leading Fly Fishing Media Creator, Five reasons why fly fishing will boom again in 2023. This is what we can do. One option was to sell Patagonia and donate all the money. It will make the company more competitive and its employees around the world will forever be empowered by purpose. Kristine McDivitt Tompkins, Every time you read a new scientific report, it's clear the climate crisis is happening faster than we thought and it's worse than we thought. Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. 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Patagonia continues to be a for-profit business, a certified B Corp and a California benefit corporation, making the best-quality products and honoring its obligation to preserve the financial health of the company while always considering the impact our business has on employees, customers and communitiesand on the health and vitality of the natural world. An assessment of current and projected reservoir water quality and suitability for listed fish species using available climate projections, for at least 50 years, would indicate whether or not such forecasted water quality and availability conditions can support wild, self-sustaining fish populations with the dams left in place. We will keep doing all of the great things that built Patagonia, and the company will keep doing its best to be a great employer. View Ironclad Guarantee Know how your clothes are made. What are the responsibilities of Patagonia Works as the holding company?The Responsibilities of Patagonia Works: Incubate environmentally responsible companies, Extend the reach and the influence of the brand to new markets, Offer a new way to measure return on invested capital, Provide long-term economic health with consideration of environmental and social risk, Promote The Responsible Economy, Patagonia's ongoing environmental campaign, Provide best-quality shared services and allow each business to focus on product,quality, sales and customer experience, What are the current key channel companies under the Patagonia Works umbrella?Patagonia, Inc. (apparel)Patagonia Provisions, Inc. (food)Lost Arrow, Inc. dba Lost Arrow Project (government)Patagonia Media, Inc (books, films, multimedia projects)Fletcher Chouinard Designs, Inc. (surfboards)Tin Shed Ventures, LLC (investments)Worn Wear, Inc. (used and upcycled apparel). The last line of Patagonia's mission statement is . Ambitions dont get much bigger than that. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. VENTURA, Calif. (September 14, 2022) Patagonia announced new ownership today, nearly 50 years since founder Yvon Chouinard began his experiment in responsible business. In a very short time, the Coalition has launched an index of social and environmental performance that designers (and eventually consumers) can use to make better decisions when developing products or choosing materials. Two types of paid leave: 4 weeks of paid pregnancy disability leave and/or 12 weeks of paid parental bonding leave. The petition requests that EPA require dam and reservoir facilitiesincluding hydropower facilitiesto report their annual GHG emissions to EPA and the public. What is Patagonia Works? By providing your email address, you agree to our Privacy Policy and Terms of Service. Ryan Gellert, CEO of Patagonia and Patagonia board member said: The Chouinard family will also guide the companys controlling shareholder, the Patagonia Purpose Trust, electing and overseeing Patagonias board of directors. Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. Prior to his time at Patagonia, Gellert was president of Black Diamond, where he worked for nearly nine years and prior was a volunteer legal intern with the ACLU of Utah. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. During that time, heelevated Patagonia to a position of leadership in Europes outdoor industry and environmental communities, overseeing all sales, marketing, environmental and operational activities for the brand. Patagonia Board of Directors Names Ryan Gellert Chief Executive Officer of Patagonia Works and Promotes Jenna Johnson to Lead Patagonia Inc. Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. Neither of these programs lead to self-sustaining ESA recovery goals and metrics. Our Company History - Patagonia Shop Activism Sports Stories Company History We guarantee everything we make. Jenna Johnson, who previously led Patagonias technical outdoor business, will serve as head of Patagonia, Inc., where she will oversee Patagonias apparel and equipment division as the company works to align its business more strongly with its mission and sport communities. I dont like to think of myself as a businessman. But are these incentives worth packing a moving van? Acting together, Patagonias board and the Patagonia Purpose Trust will work for the companys continued success over the long term while ensuring it stays true to its purpose and values. Since 2014, he has elevated Patagonia to a position of leadership in Europes outdoor industry and environmental communities. There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. If you are using a screen reader and having difficulty please call us at 1-800-638-6464. No. He will be supported by our incredible leadership team, both new and ongoing, and staff of all levels, who have helped make our company what it is today. While were doing our best to address the environmental crisis, its not enough. Orders are shipped within 1-2 business days and arrive within 3-10 business days. Jenna Johnson, who previously led Patagonias technical outdoor business, will serve as head of Patagonia, Inc., where she will oversee Patagonias apparel and equipment division as the company works to align its business more stronglywith its mission and sport communities. 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