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

Patagonia finally has something to look forward to because president Donald Trump just signed a new corporate tax code which will require them to pay a lot less federal tax. And Patagonia is saving $10 million to be precise.

A letter made its way to Linkedin in which the CEO of the company claims to donate $10 million to non-profit groups that work on climate change, the environment and issues related to it.

On the basis of the previous year’s tax cut, Patagonia will have to give away fewer taxes this year- $10 million to be exact. So, instead of siphoning the money back to the company, they are pouring it out to the planet. According to CEO Rose Marcario, the home planet needs the money morethan they do.

He referred to the mandate published by the government which stated that if no immediate actions are not taken, the planet will face catastrophes and irreversible damage by 2050. And when asked about the report, Trump, in his signature style said, “I don’t believe it” which was referred to in the post.

It read that too many people have suffered the adverse effects and consequences of global warming in the recent past, and response from politicians has been vague and incompetent. And also the devilishness of denial of such a rapidly growing phenomenon with exponential capabilities of overall destruction.

According to them, taxes serve as a protection for people who are the most vulnerable in society. But this did not stop the president from cutting corporate tax and threatening these provisions and endangering the planet. Patagonia has been supporting environmental causes. They have devised a program called “1% for the Planet” where people can donate profits to environmental agendas around the planet.

A note published on the company site claims that they have donated more than $89 million to these programs since its genesis.

And CEO Marcario had been acknowledged by the white house, during Barack Obama’s tenure in 2015, because of her philanthropic deeds and her efforts to conserve the environment. Patagonia has backed two past Democratic candidates for US Senate during 2018 midterm elections, and both had won. And Trump should take notice of the situation if he wants to return to power because money and politics go hand by hand, and Patagonia isn’t a small hand up for grabs.