This year is very good for Patagonia. And under our new corporate tax code passed by a Republican Congress and enthusiastically signed by President Donal Trump in law, they are paying very little in federal taxes. $10 million less, to be exact. In a letter written in LinkedIn, CEO of Patagonia declared that her company is donating $ 10 million to non-profit groups who work on issues related to climate change and the environment.
“Prepared on last year’s irresponsible tax cut, Patagonia will owe less in taxes this year—$10 million less, in fact,” CEO Rose Marcario writes. “Instead of putting the money back into our business, we’re responding by putting $10 million back into the planet. The home planet needs it more than we do.”
Marcario referred to the government’s own new release report on climate change, which warns that unless vital changes are made, we can face destructive and irreversible change in our planet by 2050. When asked about the report, Donal Trump replied “I don’t believe it,” something Marcario also made a thinly veiled reference to in her post.
Plus she also drafted “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”
“the taxes protect the most vulnerable in our society, our public lands and other life-giving resources,” she added. “In spite of this, the Donal Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet.”
Patagonia is not new to environmental causes. His “1% plan for the planet” program donates profits for environmental projects worldwide. Since the first launch of the program, a note on their company site claims that Patagonia donated more than $ 89 million for such reasons.