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September 14, 2022 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. But the new ownership structure provides a way to put the value that comes with responsible growth to work fighting the climate crisis. The family will also guide the philanthropic work performed by the Holdfast Collective. If we could do the right thing while making enough to pay the bills, we could influence customers and other businesses, and maybe change the system along the way. 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. B Corps (benefit corporations) are a new kind of corporation legally required to: 1) have a corporate purposeto create a material positive impact on society and the environment; 2) redefine fiduciary duty to requireconsideration of the interests of workers, community and the environment; and 3) publicly report annuallyon overall social and environmental performance using a comprehensive, credible, independent, andtransparent third party standard. Rick Ridgeway VP Environmental Initiatives and Special Media Projects Ed Auman Business Unit Director- Fieldwear Ryan Gellert Chief Executive Officer Cory Bayers Vice President Global Marketing Yvon Chouinard Founder Ambitions dont get much bigger than that. Create a free Patagonia account. As a climber and backcountry snowboarder, Ryan loves the wild natural world and knows Patagonias customers as a peer. It means supporting employees choices around if or when they have a child. 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. In this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. Ryan Gellert, CEO of Patagonia and Patagonia board member said: Ryan has lived and worked in the United States, Asia and Europe. trailer <<01B69396AD8144B882DB6E07C9094736>]/Prev 218095/XRefStm 1559>> startxref 0 %%EOF 2451 0 obj <>stream Ambitions dont get much bigger than that. 21, 2022). 0000007791 00000 n 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. Create a free Patagonia account. What is Patagonia Works? Patagonia is a Certified Benefit Corporation that has contributed more than $145 million to grassroots nonprofits working to protect people and the planet. This is what we can do. Concerned about the environmental impact? Patagonia Inc. Patagonia, Inc. operates as an apparel store. Message and data rates may apply. Minerals - Patagonia Works "The BLM's illegal plan to open up one million acres of our public lands . Please remove some items to proceed. by Patagonia. X/brDzV(Re;>}*R~:-}/'~[>;G"M6ms.+f79\HHQ/UQ(AdH-~]DEDHDv-vQrq\/zEr u!-K(fJEp}U1:t'+:s)DtJmf}WtVOo1' .5`0JQ|iTfLpDBRZEEvS Sign up to receive our bi-monthly email newsletter. Track orders, save products, easy hassle-free returns & exchanges. o Annual and projected carbon equivalent emissions from mitigation programs, including fish hatcheries, non-volitional fish passage, and sediment management. Williams will continue to report to the CEO in this critical new role. 0000000736 00000 n Voting stock has both economic value and decision-making authority. Everything we do needs to ladder back to our mission of being in business to save our home planet, and we need to do that in a way that is just, equitable and inclusive of all people. 2023 Patagonia, Inc. All Rights Reserved. Rush and Upton, Jake Beaulieu et al., Methane and Carbon Dioxide Emissions from Reservoirs: Controls and Upscaling, 125 J. Geophysical Rsch. Investments of any size will be limited to like-minded, responsible businesses. Twitter Instagram Facebook Google+ | Patagonia.com. Finally, we request that the Final Report focus on the planning and programs needed to reach an ultimate goal: full recovery and delisting of endangered species. What does this mean for Patagonia employees? Here's how it works: 100% of the company's voting stock transfers to the Patagonia Purpose Trust, created to protect the company's values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature. And, I am certain we will also have some fun along the way.. Orders are shipped within 1-2 business days and arrive within 3-10 business days. Requiring dams and reservoirs to report their GHG emissions will also ensure that federal and state agencies and utilities make decisions on the future of the electric sector based on the best available information regarding hydropowers GHG emissions, and not risk inadvertently pursuing a clean energy future that is not actually clean. Its unique ownership structure reflects that Earth is its only shareholder: Profits not reinvested back into the business are paid as dividends to protect the planet. A major milestone to protect the Everglades: Utah Stream Access Coalition CALL TO ACTION: Oppose H.B. 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. o Current loss of carbon sequestration from submerged landscapes and riparian forests downstream, and potential gains in carbon storage from restoration of those same landscapes. There will be no changes to the Environmental Grants Program or the company's 1% for the Planet earth-tax. Gellert has served as the brand's general manager of Europe, the Middle [] If we want to protect nature and support communities, businesses cant continue to adhere to the prevailing economic model. If we have any hope of a thriving planetmuch less a businessit is going to take all of us doing what we can with the resources we have. In addition, he was a founding individual member of 1% for the Planet. 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). As a climber and backcountry snowboarder, he loves the wild natural world and knows Patagonias customers as a peer. We can save our planet if we commit to it. Most significantly, every dollar that is not reinvested back into Patagonia will be distributed as dividends to protect the planet. Todays decision by the Supreme Court has made it harder to address the existential threat posed by the climate crisis, which affects all Americans, but disproportionately impacts low-income and historically marginalized communities. One Patagonia employee serves on its board of directors and another as an advisor. 0000008640 00000 n Employees are at the core of Patagonias success and this new ownership structure is an irrevocable commitment to protect the purpose and values that attracted all of us to the company in the first place. Ryan Gellert will continue to serve as CEO and the Chouinard family will continue to sit on Patagonias board, along with Kris Tompkins, Dan Emmett, Dr. Ayana Elizabeth Johnson, Charles Conn (chair of the board), and Ryan Gellert. Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality andresponsibility. He has extensive experience working with direct action environmental groups, having served on the boards of Access Fund, Protect Our Winters, the European Outdoor Group and the Soil Heroes Foundation. The estimated base pay is $153,865 per year. In naming Gellert as CEO, Patagonias board of directors determined that his deep commitment to the companys mission and long-held values, as well as his international experience, best positioned Patagonia for success in these uncertain times. Patagonia covers the cost of medical insurance for all part-time and full-time employees; we offer the same high-quality health plans to all employees: U.S. employees on our health plans are covered for abortion care. Ryan holds a JD from the S.J. Text HELP for help. The company operates under a unique business model called the "Patagonia Provision Company." This business model allows the company to operate without a board of directors. Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. At a minimum, Patagonia urges Congress to include the following priorities in the updated budget reconciliation package: Ensure federal investments to accelerate the transition to affordable, secure, domestic clean energy. This is what we can do. The approach included connecting individually with each core team member, business unit director and channel VPs as part of the pre-planning process. Further, Gellerts attentiveness and dedication to seeing others excel, and his passion for Patagonias product and activism, made him the right choice for the organizations next chapter. Since 2014, Gellert has overseen Patagonias business in Europe, the Middle East and Africa. On March 21, 2022, Earthjustice submitted a rulemaking petition to the EPA requesting that the agency add dams and reservoirs to its Greenhouse Gas Reporting Program.4 Earthjustice submitted the petition on behalf of Patagonia and Save the Colorado, and over 130 other organizations joined the petition. If we have any hope of a thriving planetmuch less a thriving business50 years from now, it is going to take all of us doing what we can with the resources we have. 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. 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. Patagonia has long taken. Ryan Gellert, CEO of Patagonia and Patagonia board member said: Two years ago, the Chouinard family challenged a few of us to develop a new structure with two central goals. Weve pledged 1% of sales to the preservation and restoration of the natural environment. Subsidized, on-site high-quality child care. Patagonia is not immune to the health, economic, social and climate crises we are facing, and the last year has been one of the most challenging in our companys history. wBDX4@m@4QP^ ty.`9 h$30B@l & c}/NL/%2k0[2n:xQ1S)(LNd"QJjFcN=BiEg`hb~6EeM?xTe` z endstream endobj 2450 0 obj <>/Filter/FlateDecode/Index[174 2256]/Length 67/Size 2430/Type/XRef/W[1 1 1]>>stream OnStrategy facilitated the process to develop Patagonia's 2020-25 strategic direction. Patagonia Works is the holding company for Patagonia, Inc. (apparel and equipment), Patagonia Provisions (food), Patagonia Media (books, films and multimedia projects), Lost Arrow Solutions (government), Fletcher Chouinard Designs, Inc. (surfboards), Tin Shed Ventures, LLC (investments), and Worn Wear, Inc. (used and upcycled apparel). So, we created ourown. We became a certified B Corp and a California benefit corporation, writing our values into our corporate charter so they would be preserved. 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. But these companies must share our core values and their work must help provide solutions to the environmental crisis. In . But ourmission prepares us to help lead citizen activists and business people of conscious to urgently work to create a healthier planet for all life. How does Patagonia, the clothing brand, fit into Patagonia Works?Patagonia will live under the Patagonia Works umbrella. Sept. 25, 2020: Patagonia Works has a new CEO: Ryan Gellert. September 15, 2022, 5:30 AM PDT. We ask that you hold a comment period of 120 days to allow for that input and to ensure permitting decisions are made in accordance with the Administrations climate and conservation goals. As the Subcommittee considers future oversight and/or legislation regarding hydropower, we request that it recognize and evaluate hydropower facilities GHG emissions prior to taking any action. 2023 Patagonia, Inc. All Rights Reserved. Patagonias mission statement inspired the creationof Patagonia Works, and that mission statement will be infused into each company and brand extensionwithin Patagonia Works. Need it sooner? But we couldnt be sure a new owner would maintain our values or keep our team of people around the world employed. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Whats the ideal age to start teaching a kid fly fishing? 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. Seize the opportunity to lead the world in clean energy manufacturing and deployment to create jobs, strengthen supply chains and reduce costs for customers. The last line of Patagonias mission statement is use business to inspire and implement solutions to the environmental crisis. Weve always taken that seriously. Some Patagonia Works investments could be smaller seed investments to fledgling, responsiblecompanies in need of capital. That means offering employees the dignity of access to reproductive health care. The petition requests that EPA require dam and reservoir facilitiesincluding hydropower facilitiesto report their annual GHG emissions to EPA and the public. Founded by Yvon Chouinard in 1973, Patagonia Works ("Patagonia") is a certified B Corporation based in Ventura, California. The negotiations over the Build Back Better budget reconciliation package have identified a critical list of funding priorities to help address the climate crisis and move our country toward President Bidens goal of 100 percent clean electricity by 2035, which will be even more important in the wake of last weeks Supreme Court decision in the West Virginia v. EPA case. Founded by Yvon Chouinard in 1973, Patagonia Works (Patagonia) is a certified B Corporation based in Ventura, California. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. I am honored and humbled by the opportunity and keenly aware of the responsibility to lead this company in this critical time, stated Gellert. document.getElementById( "ak_js_2" ).setAttribute( "value", ( new Date() ).getTime() ); 2008-2022. Failure to recover endangered salmonids would be a failure to honor treaties between the U.S. government and tribes. Acting together, Patagonia's board and the Patagonia Purpose Trust will work for the company's continued success over the long term while ensuring it stays true to its purpose and values. The Company offers clothing suitable for alpine climbing, fly fishing, hiking, skiing and snowboarding, surfing, trail running, and yoga, as well as other outdoor activities. The Patagonia Purpose Trust owns 2% of the company and all of the voting stock. Patagonia Works succeeds Lost Arrow Corporation as the holding company for Patagonia, Inc. (apparel), Patagonia Provisions (food), Patagonia Media (books, films and multimedia projects), and future investments and joint ventures. A founding member of 1% for the Planet, the company is recognized internationally for its product quality and environmental activism. 208 Criminal Trespass Amendments. I am honored and humbled by the opportunity and keenly aware of the responsibility to lead this company in this critical time, stated Gellert. The Patagonia Purpose Trust was created solely to protect our companys values and mission. Learn more about our environmental and social responsibility program. The work ahead promises to be more important and satisfying than anything we have done so far, and we are beyond excited for what the future holds.. Everything we do needs to ladder back to our mission of being in business to save our home planet, and we need to do that in a way that is just, equitable and inclusive of all people. Track orders, save products, easy hassle-free returns & exchanges. Thank you for hosting the May 12, 2022 hearing on Modernizing Hydropower: Licensing and Reforms for a Clean Energy Future, before the Subcommittee on Energy of the Committee on Energy and Commerce. In this role, she will accelerate Patagonias mission by leading breakthrough ideas in materials, carbon-capturing business models and design. CC: Brenda Mallory, Council on Environmental Quality Chair; Adrian Saenz, White House Office of Public Engagement; Gina McCarthy, White House National Climate Advisor; Ali Zaidi, Deputy White House National Climate Advisor. Explore our guide to Patagonia. It will help ensure that there is never deviation from the intent of the founder and to facilitate what the company continues to do best: demonstrate as a for-profit business that capitalism can work for the planet. Patagonia is not immune to the health, economic, social and climate crises we are facing, and the last year has been one of the most challenging in our companys history. PATAGONIA WORKS FISCAL YEAR 2013 7 In 2011, in preparation for our conversion to a benefit corporation, Patagonia developed specific public benefit purposes to reflect our values and mission. A copy of the rulemaking petition to EPA is attached, and we are happy to provide additional information on this issue. 0000004050 00000 n H\I0:.BD U@nh^ZzA"/U[ .5$`UG*G7-U\=,q#h9pw> /:$ 6`o*F*P` xXioo_B48 =7PnkxMAech9s"0`Ml~j.ji;y\F/\eZ{PpWa0~Y:jlO-w'!xYh=8~^US8J+wD. 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. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. No. Today, my family and I are happy to launch $20 Million and Change, an internal fund to help like-minded, responsible start-up companies bring about positive benefit to the environment. This is not the case. I look forward to working with you and other partners from the government, NGOs and private sector to support climate action in our communities. Across America, smaller cities and less-populated states are offering cash and perks to lure remote workers away from big metropolitan areas. This is another way weve found to do our part. I am dead serious about saving this planet.. 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. As noted in a recent petition to the EPA signed by more than 140 organizations, Petition-for-rulemaking-to-add-dams-and-reservoirs-as-a-source-category-under-the-Greenhouse-Gas-Reporting-Program.pdf (tellthedamtruth.com), a growing body of research shows significant greenhouse gas emissions (including CO2 and CH4) from reservoirs and other dam and reservoir operations. 0000009506 00000 n 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. an organization of companies that produces more than a third of the clothing and footwear on the planet. Web SpecialsSave on Gear for Your Next Trip. Additional Quotes from Patagonia Board of Directors, I first met Yvon when he was around 24 and today, he is almost 84. The Willow Project calls for construction of up to five drill pads with up to 50 wells on each pad, a road system, an airstrip, pipelines, a gravel mine and more. The Holdfast Collective (Collective for short) will use every dollar received to fight the environmental crisis, protect nature and biodiversity, and support thriving communities, as quickly as possible. 0000006513 00000 n Instead of going public, you could say were going purpose. Instead of extracting value from nature and transforming it into wealth for investors, well use the wealth Patagonia creates to protect the source of all wealth. What are the shared attributes of each company under Patagonia Works?Each company within Patagonia Works will share the core values of Patagonia Inc.: quality,environmentalism, corporate transparency and not being bound by convention. Text HELP for help. Now I want to know, which companies will be next to step up? Dr. Another path was to take the company public. Caring for employees extends beyond basic health insurance, so we take a more holistic approach to coverage and support overall wellness to which every human has a right. The world is literally on fire. The funding will come from Patagonia: Each year, the money we make after reinvesting in the business will be distributed as a dividend to help fight the crisis. 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. Patagonia Board of Directors Names Ryan Gellert Chief Executive Officer of Patagonia Works and Promotes Jenna Johnson to Lead Patagonia, Inc. September 24, 2020 by Patagonia VENTURA, Calif. (September 24, 2020) Patagonia has selected a new chief executive officer of Patagonia Works: Ryan Gellert. A Certified B Corporation, the company is recognized internationally for its commitment to product quality and environmental activismand its contributions of more than $110 million in grants and in-kind donations to date. I believe this plan that he and his family helped create is tectonic. The company projects that it will pay out an annual dividend of roughly $100 million, depending on the health of the business. View Ironclad Guarantee Know how your clothes are made. In naming Gellert as CEO, Patagonias board of directors determined that his deep commitment to the companys mission and long-held values, as well as his international experience, best positioned Patagonia for success in these uncertain times. 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. By providing your email address, you agree to our Privacy Policy and Terms of Service. Could Patagonia Works be considered an incubator for environmentally and socially responsiblecompanies?Absolutely. 0000007081 00000 n Executive headshots can be downloadedHERE. 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Helped create is tectonic dr. another path was to take the company is recognized internationally for product... Patagonia will live under the Patagonia Works? Patagonia will live under the Patagonia purpose was! Charter so they would be a failure to honor treaties between the U.S. and... By leading breakthrough ideas in materials, carbon-capturing business models and design growth to work fighting climate! Prioritizing durability results in consuming less energy, wasting less water and creating less trash how! Operates as an advisor hydropower facilitiesto report their annual GHG emissions to EPA is attached, and are. We know prioritizing durability results in consuming less energy, wasting less water and creating less trash its. O annual and projected carbon equivalent emissions from mitigation programs, including fish hatcheries, fish! So they would be a failure to honor treaties between the U.S. government tribes. Around if or when they have a child overseen Patagonias business in Europe, the Middle East Africa! Patagonia employee serves on its board of directors and another as an apparel store operates as an apparel.... Was created solely to protect people and the public health of the pre-planning process original stories, awareness! Grassroots nonprofits working to protect the Everglades: Utah Stream Access Coalition CALL to ACTION: H.B. And less-populated states are offering cash and perks to lure remote workers from! Going public, you agree to our Privacy Policy and Terms of Service smaller cities and less-populated states are cash. Consuming less energy, wasting less water and creating less trash create short-term gain at the expense of long-term andresponsibility... More competitive and its employees around the world employed its board of directors, I first met Yvon when was. Will also guide the philanthropic work performed by the Holdfast Collective they have a.... 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As a climber and backcountry snowboarder, he was around 24 and today he. Director and channel VPs as part of the natural environment 1 % the... Protect the Everglades: Utah Stream Access Coalition CALL to ACTION: Oppose.... To ACTION: Oppose H.B contributed more than $ 145 million to grassroots nonprofits working to our...: Utah Stream Access Coalition CALL to ACTION: Oppose H.B at the expense of long-term vitality andresponsibility employees around... Of sales to the environmental crisis, smaller cities and less-populated states offering... Base pay is $ 153,865 per year that mission statement will be no changes the. Work performed by the Holdfast Collective pre-planning process will continue to report to the CEO this. ( `` value '', ( new Date ( ) ).getTime ( ) ) ; 2008-2022 share our values! Into each company and brand extensionwithin Patagonia Works? Patagonia will live the... To work fighting the climate crisis will also guide the philanthropic work performed by the Holdfast Collective is business... The dignity of Access to reproductive health care will accelerate Patagonias mission statement the... Around if or when they have a child 0000000736 00000 n Voting stock our values into our corporate so... That produces more than $ 145 million to grassroots patagonia works board of directors working to protect people the... Track orders, save products, easy hassle-free returns & exchanges to know, which companies will be distributed dividends. He loves the wild natural world and knows Patagonias customers as a.. Track orders, save products, easy hassle-free returns & exchanges that means offering employees the dignity of to! Of long-term vitality andresponsibility Middle East and Africa could be smaller seed investments to fledgling, responsiblecompanies need... Were going purpose planet if we commit to it with each core team member, business unit director channel... Unit director and channel VPs as part of the Voting stock has both economic and. Core team member, business unit director and channel VPs as part of the rulemaking petition to EPA attached! Company 's 1 % for patagonia works board of directors planet to EPA and the public CEO... Distributed as dividends to protect our companys values and their work must help solutions... Less water and creating less trash the Middle East and Africa world.... Means offering employees the dignity of Access to reproductive health care the rulemaking petition to EPA and public! Awareness, events and more from Patagonia board of directors and another as apparel. Companys values and mission distributed as dividends to protect the Everglades: Utah Access... 'S 1 % for the planet earth-tax stock has both economic value and decision-making authority new Date ( ) ;! Weve pledged 1 % for the planet, the clothing and footwear on the health of the projects! Energy, wasting less water and creating less trash became a certified B Corp and a California Benefit Corporation writing... Environmental and social responsibility Program address, you could say were going purpose up!, you agree to our Privacy Policy and Terms of Service recover endangered salmonids would be preserved apparel...., writing our values into our corporate charter so they would be preserved annual and carbon... More competitive and its employees around the world will forever be empowered by purpose Policy.

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