Patagonia Is Donating $10 Million from Trump Tax Cut to the Planet - TheInertia.com

“Our home planet needs it more than we do.” – Patagonia CEO Rose Marcario. Photo: Hendrik Cornelissen/Unsplash

On Wednesday, Patagonia announced it would donate $10 million to environmental groups dedicated to protecting the planet – the amount being precisely the windfall the company was positioned to receive as a result of the Trump tax cut.

In a statement posted on LinkedIn, Patagonia CEO Rose Marcario explained the move was in light of an “irresponsible tax cut” and a planet in dire need of saving. “Our home planet needs it more than we do,” she said.

Here’s the full statement in its entirety:

Based on last year’s irresponsible tax cut, Patagonia will owe less in taxes this year—$10 million less, in fact. Instead of putting the money back into our business, we’re responding by putting $10 million back into the planet. Our home planet needs it more than we do.

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—and the denial is just evil.

We have always paid our fair share of federal and state taxes. Being a responsible company means paying your taxes in proportion to your success and supporting your state and federal governments, which in turn contribute to the health and well-being of civil society. Taxes fund our important public services, our first responders and our democratic institutions. Taxes protect the most vulnerable in our society, our public lands and other life-giving resources. In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet.

We recognize that our planet is in peril. We are committing all $10 million to groups committed to protecting air, land and water and finding solutions to the climate crisis. We have always funded grassroots activism, and this $10 million will be on top of our ongoing 1% for the Planet giving. It will go a long way toward funding grassroots groups; including those dedicated to regenerative organic agriculture, which may be our greatest hope for reversing the damage done to our overheated planet.

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.

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