Patagonia Donates $13.7 Mil. in Corporate Tax Cuts
The California company, Patagonia, said Wednesday that they’re donating $13.7 million ($10 million USD) it saved from corporate tax cuts to non-profit environmental groups.
“Our government continues to ignore the seriousness and causes of the climate crisis. It is pure evil,” said Yvon Chouinard, Patagonia’s founder.
“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 donation is in addition to one per cent of sales it gives to environmental groups every year.
Corporate rates dropped from 35 per cent to 21 per cent in the recent GOP overhaul of the US tax code.
The recent National Climate Assessment warned that natural disasters are worsening in the US because of global warming.
Patagonia Press Release
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 protecting air, land and water and finding solutions to the climate crisis. Each year we fund grassroots activism through 1% for the Planet, and this $10 million will be on top of that. 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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