Patagonia is taking money the company saved from the 2017 federal tax cuts and putting it toward another cause: the planet’s well-being.
In a 360-word statement published to LinkedIn on Wednesday, CEO Rose Marcario announced that Patagonia will be donating its $10 million tax cut to “groups committed to protecting air, land and water and finding solutions to the climate crisis.”
“Based on last year’s irresponsible tax cut, Patagonia will owe less in taxes this year—$10 million less, in fact,” wrote Marcario. “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.”
Marcario also called out the results of the most recent Climate Assessment report from 13 federal agencies, which warned that the United States could lose 10 percent of its GDP by 2100 if greater action isn’t taken to protect the planet and curtail climate change.
“The climate crisis is already affecting all of us,” she continued. “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.”
This comes just two days after President Trump responded that he “didn’t believe [the assessment]” after reporters asked him about it on the White House lawn, according to The New York Times. In her statement, Marcario also makes a direct hit at the Trump administration, condemning the tax cuts, which she said put the planet in further peril.
“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,” she said.
“In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet,” she continued.
This $10 million donation will be separate from Patagonia’s ongoing 1 Percent for the Planet program, which pledges to donate 1 percent of all sales “to the preservation and restoration of the natural environment,” which has seen a whopping $89 million donated to environmental groups over the years.
It’s not the brand’s only philanthropic endeavor, either. In 2002, Patagonia’s founder, Yvon Chouinard, started a nonprofit that encourages businesses to donate to grassroots environmental groups and other charities that support local communities. In 2016, the company also donated the entirety of its Black Friday sales—$10 million—to environmental charities.
“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,” she said at the close of her statement.