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Patagonia CEO Donates $10M Savings From Trump's Tax Cuts To Fight Climate Change

Company decided to virtue signal instead of paying employee bonuses

 on 29th November 2018 @ 2.00pm
company decided to virtue signal instead of paying employee bonuses © press
Company decided to virtue signal instead of paying employee bonuses

The popular outdoor gear company Patagonia, who saved an eye-watering $10 million from Donald Trump's tax cuts, has given away their savings to 'fight climate change' rather than pay their employees bonuses. 

The company, based in California and headed by CEO Rose Marcario, claimed that the donation to environmental groups is an extra 1 percent it gives to the causes.

Following the GOP's comprehensive overhaul of the U.S. tax code last year, which saw corporate rates reduced from 21 percent, from 35 percent, the company enjoyed a huge windfall.

Marcario slammed Trump's tax cuts as 'irresponsible' in a statement:

patagonia ceo donates  10m savings from trump s tax cuts to fight climate change © press

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

"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," Marcario wrote.

The donation has been made following the recent National Climate Assessment, which White House press secretary Sarah Sanders said was "not based on facts," and "not data-driven."

"Our government continues to ignore the seriousness and causes of the climate crisis. It is pure evil," Yvon Chouinard said, Patagonia's founder.

"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 Federal Climate Change Report warned of natural disasters getting worse in the U.S as a result of global warming.

patagonia ceo donates  10m savings from trump s tax cuts to fight climate change © press

It also claimed that severe weather and floods had cost almost $400 billion since 2015 with the annual loss potential reaching hundreds of billions of dollars.

Despite economists agreeing to financially related findings concerning climate change, Donald Trump has discarded the report's assessment concerning the possible economic repercussions.

Patagonia, who no doubt has gained a lot of press from their virtue signaling stance on climate change, has joined many lawsuits challenging Trump's decision to chop up two large national monuments in Utah.

The company also endorsed Democratic Sens.-elect Jon Tester of Montana and Jacky Rosen of Nevada, who both prevailed against GOP incumbents.

Sanders denounced the National Climate Assessment before she supported Trump's publicly by displaying doubt about its data of probable severe ocean-level rises and correlated economic damages.

"You have to look at the fact that this report is based on the most extreme modeled scenario, which contradicts long-established trends," Sanders said.

"Modeling the climate is an extremely complicated science that is never exact."We think this is the most extreme version, and it's not based on facts. It's not data-driven. We'd like to see something that is more data-driven. It's based on modeling," she added.

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