Patagonia’s CEO is donating company’s entire $10M Trump tax cut to fight climate change.

Patagonia is having a very good year. And under our new corporate tax code passed by a Republican Congress and enthusiastically signed into law by President Trump, they’re paying a lot less in federal taxes.

$10 million less, to be exact.

In letter posted to LinkedIn, Patagonia’s CEO announced her company is donating all $10 million to non-profit groups who work on issues related to climate change and the environment.

“Based 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. Our home planet needs it more than we do.”   

Marcario referred to the government’s own newly released report on climate change, which warns that unless significant changes are made, we could be facing catastrophic and irreversible changes to our planet by 2050. When asked about the report, Trump simply said, “I don’t believe it,” something Marcario also made a thinly veiled reference to in her post:

“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,” she wrote. 

“Taxes protect the most vulnerable in our society, our public lands and other life-giving resources,” she added.  “In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet.”

Patagonia isn’t new to environmental causes. Their “1% for the Planet” program donates profits to environmental projects around the world.

Continue reading: https://www.upworthy.com/patagonia-s-ceo-is-donating-company-s-entire-10-m-trump-tax-cut-to-fight-climate-change?c=ufb1