'Earth is now our only shareholder' Yvon Chouinard, founder of outdoor retailer Patagonia, hands over the company to a nonprofit dedicated to fighting climate crisis
UN says as well as climate financing to help countries recover and adapt, G20 nations should boost their national greenhouse gas emission reduction targets every year.
Yvon Chouinard, 83, could have sold the brand –– valued at $3 billion, according to The New York Times –– or taken it public.open letter posted to Patagonia's website"I never wanted to be a businessman," he explained. "I started as a craftsman, making climbing gear for my friends and myself, then got into apparel."
He, his wife and their two children agreed to transfer all of Patagonia's voting shares, or stock that gives the holder voting rights, in the company to a trust in charge of ensuring the brand's environmental values are respected.
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