Fashion is Polluting the Environment. Here's What Patagonia's Doing About it. |
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“Earth is now our only shareholder,” declared Patagonia founder and owner, Yvon Chouinard as he signed away 100% of his company’s stock to fighting the climate crisis. A popular outdoor gear/sportswear brand, Patagonia created a rumble in the business and fashion community with this sudden announcement. This week’s newsletter is dedicated to the who, what, and why of Patagonia’s decision. |
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Yvon Chouinard, founder and owner of Patagonia. |
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Firstly, who. An adrenaline junkie with a love for outdoor sports, Yvon Chouinard got his start making mountain gear for his friends before expanding into the apparel business, selling everything from parkas to waterproof backpacks. Currently, Patagonia is valued at $3 billion dollars but it is their commitment to the environment that piques LOVI’s interest. At a time when the fashion industry is the world’s 2nd biggest polluter, Patagonia is listed as a B-corporation (one that meets the highest environmental, social and governance standards) and 88% of its apparel is made using recycled or renewable materials. Peruse their website and you’ll find wetsuits made out of natural rubber instead of the regular neoprene material (usually derived from limestone and crude oil). Added to this, 1% of their annual revenue (roughly the equivalent of $140 million dollars) is donated to grassroots activists and environmental groups. |
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Patagonia: active wear that is functional and environmentally friendly. |
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So what about this announcement? “While we’re doing our best to address the environmental crisis, it’s not enough. We needed to find a way to put more money into fighting the crisis while keeping the company’s values intact,” stated Chouinard. This means giving away 98% of Patagonia and $100m of non-reinvested profits to the Holdfast Collective, a non-profit set up to “protect nature, biodiversity and its thriving communities.” The remaining 2% and complete voting stock will be held by the Patgonia Purpose Trust set up to protect the company’s values, presiding over decisions such as who’s on the board of directors, operations, etc. A critic might point out that we have yet to see how the relatively new Holdfast Collective uses the money and what specific environmental causes they plan to work on. Without action, it runs the risk of being just another brand that's greenwashing. It's also unsettling to see how much power billionaire individuals (especially white men like Chouinard) have over the world's environment, and by extension their ability to alter the course of climate change. It is dangerous to leave the environment in the hands of a few private entities and while Chouinard recognises his responsibility, others may not be as open to sacrificing their profits for a greener future. But what Patagonia shows us is that fundamental change is possible in an otherwise capitalist system, and the fashion industry does have the potential to re-invest their earnings into eco-friendly initiatives. For too long, greed and over-consumption has dominated the industry. This reckoning sends a message to other companies that you can make create great clothes and honour the environment from which it derives. |
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From LOVI's recent collection. Model wears LOVI Cotton Yoga Pants - Relaxed Fit (made-to-order). |
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So what does LOVI do? We use natural bio-degrading fabrics like cottons and silks for 99% of our clothing, and avoid plastics, nylons and polyesters that will clog our planet for centuries to come. Secondly, we design products meant to last and be worn lovingly by you for years to come. By choosing to spend your money on safer fabrics and long-lasting clothing, you are investing in our environment. It’s conscious. And that's sexy. |
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