Patagonia is giving away $10 million it saved last year as a direct result of last year’s cut to corporate income tax rates, backed by President Donald Trump, to find solutions to the climate crisis. The tax cut was in favor of the oil and gas industry and will open up 19 million acres of Alaska's Arctic National Wildlife Refuge to oil exploration.
"Taxes protect the most vulnerable in our society, our public lands and other life-giving resources," Patagonia CEO Rose Marcario wrote in a LinkedIn post. "In spite of this, the Trump administration initiated a corporate tax cut, threatening these services at the expense of our planet."
Patagonia's chunk of savings will be applied to groups defending air, water, and land, and it will go toward supporting the regenerative organic agricultural movement. Patagonia hopes this will both slow down the process of climate change and begin to reverse the negative effects.
Patagonia Founder Yvon Chouinard in a press release said, “Our government continues to ignore the seriousness and causes of the climate crisis. It is pure evil. 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 company sides with the scientists in the debate about climate change, urging that the planet is suffering from human-caused climate disruption. The company has believed that taking urgent action is necessary since 1985, when they began funding grassroots activism to give back one percent to the planet. The $10 million will be added on to that.