The family who owned the Patagonia clothing company recently gave the company to a new trust which will take all the profits and dedicate it to fighting climate change. Meaning that the $3 billion company will now spend the $100 million in profits it generates annually on good things. The billionaire family hopes that their action will inspire other insanely wealthy people to do the same with their companies.
“Hopefully this will influence a new form of capitalism that doesn’t end up with a few rich people and a bunch of poor people,” Mr. Chouinard, 83, said in an exclusive interview. “We are going to give away the maximum amount of money to people who are actively working on saving this planet.”
Patagonia will continue to operate as a private, for-profit corporation based in Ventura, Calif., selling more than $1 billion worth of jackets, hats and ski pants each year. But the Chouinards, who controlled Patagonia until last month, no longer own the company.
Over at Popular Information they juxtapose two crimes that happened last year: the stealing of retail goods by one person valued between $200-$950 and the other crime by one corporation was the stealing of people’s money valued at $4,500,000. One got a lot of news coverage while the other did not. Walgreens kept their worker’s money by committing wage theft, a crime an employer can commit by not paying overtime, having workers work “off the clock”, misclassifying employee pay scales, or through other means.
We should be more concerned with the stealing of wages than the petty from of stealing consumer goods. In the USA alone wage theft is a 15 billion dollar problem (yes you read that right), and according to the FBI it’s more than the value of all stolen goods in property crimes.
A good way to not be a victim of wage theft is simply to talk to your coworkers about how much you earn for the work you do.
Just a few months earlier, in November 2020, Walgreens paid a $4.5 million settlement to resolve a class-action lawsuit alleging that it stole wages from thousands of its employees in California between 2010 and 2017. The lawsuit alleged that Walgreens “rounded down employees’ hours on their timecards, required employees to pass through security checks before and after their shift without compensating them for time worked, and failed to pay premium wages to employees who were denied legally required meal breaks.”
Walgreens’ settlement includes attorney’s fees and other penalties, but $2,830,000 went to Walgreens employees to compensate them for the wages that the company had stolen. And, because it is a settlement, that amount represents a small fraction of the total liability. According to the order approving the settlement, it represents “approximately 22% of the potential damages.”
A team has started a Kickstarter campaign to label a product’s carbon footprint so consumers can make better decisions about which brand to buy. The labels are meant to bring attention to the additional cost of wasteful production and a bunch of brands have already joined the initiative.
Of course the best way to help the environment is to follow the first R and reduce your consumption in the first place.
Solutions to seriously mitigate climate change exist, but they are not free. You know whatisfree right now? Emitting greenhouse gases.Let’s change that.
By joiningCertified Climate Neutral, businesses can choose to pay forallof their carbon emissionsandaccelerate the implementation of low-carbon technologies. Becoming Climate Neutral Certified is soaffordable, immediate, and measurably impactfulthat it should be theminimum standardfor what it means to be a sustainable business.
To address the climate crisis we need to cut back on the amount of carbon we pump into the atmosphere and there’s a simple way to do that: get 20 companies to improve their businesses. A mere 20 companies are responsible for a third of all carbon emissions and if we can get them to reduce their output then we can greatly reduce the global carbon output. What’s more we now have the proof that these companies have been negligent and ought to make them pay for the global harm they have caused.
Heede said: â€œThese companies and their products are substantially responsible for the climate emergency, have collectively delayed national and global action for decades, and can no longer hide behind the smokescreen that consumers are the responsible parties.
â€œOil, gas, and coal executives derail progress and offer platitudes when their vast capital, technical expertise, and moral obligation should enable rather than thwart the shift to a low-carbon future.â€
The damage that wealthy bankers did to the economy back in 2007/08 is still with us, and that has led to a whole generation questioning the validity of modern hyper-capitalism. That same germination witness ongoing environmental destruction and the erosion of labour rights (amongst a litany of other ills) all for the goal of getting more profit. The rejection of the prevailing thought has caused a few people to be scared of the change to come.
Don’t be afraid of the future, embrace it. Be part of what you want to see come true by examining what’s to come through exploration of what already is.