Patagonia founder donates company to environmental causes
Ben Gabbe/Getty Images North America/TNS

The founder of outdoor clothing retailer Patagonia announced Wednesday that its profits would all go toward fighting climate change and conserving land. Yvon Chouinard said the company was now in the Patagonia Purpose Trust and the Holdfast Collective, a nonprofit. The trust will oversee operations of the company and its commitment to the environment and social cause. The nonprofit will invest all of the company’s profits into environmental projects. Chouinard’s two children, Claire and Fletcher, will oversee the nonprofit. “Earth is now our only shareholder,” reads the company’s website. In a...