Patagonia Donates the $10 Million it Saved in Tax Cuts Toward Saving The Planet

December 4, 2018 at 1:18 am

Patagonia’s billionaire founder says he’s spending the millions he saved through Trump’s “irresponsible” corporate tax cuts to protect the environment

Trump’s corporate tax cut — from 35% to 21% — saved Patagonia  $10 million last year.

Patagonia’s founder calls the tax cut “irresponsible” and is sending his piece of the pie back to the planet.

In a press release, the eco-friendly outdoor clothing company called the tax cut “a windfall for the oil and gas industry.”

“Our home planet needs it more than we do,” the release says.

“Our home planet is facing its greatest crisis because of human-caused climate disruption. All the extra heat we’ve trapped in the earth’s atmosphere is not only melting the poles and raising sea levels, it’s intensifying drought and accelerating the extinction of species. The most recent Climate Assessment report puts it in stark terms: the U.S. economy could lose hundreds of billions of dollars, and the climate crisis is already affecting all of us. Mega-fires. Toxic algae blooms. Deadly heat waves and deadly hurricanes. Far too many have suffered the consequences of global warming in recent months, and the political response has so far been woefully inadequate.”

A big chunk of the money will go toward supporting regenerative agriculture, which the company believes could be “our greatest hope” for reversing global warming. The rest will go toward renewable energy and protecting land from human development.

“Our government continues to ignore the seriousness and causes of the climate crisis,” wrote Patagonia’s founder Yvon Chouinard.

“We need to double down on renewable energy solutions. We need an agriculture system that supports small family farms and ranches, not one that rewards chemical companies intent on destroying our planet and poisoning our food. And we need to protect our public lands and waters because they are all we have left.”

The bold move comes a year after Chouinard decided to sue Trump for reducing the size of Bear Ears and Grand Staircase-Escalante National Monuments in Utah.