Patagonia founder Yvon Chouinard, who has recently communicated his hesitance at hoarding abundance, is offering his organization.
The outdoor apparel company, Patagonia, will now be in the hands of a trust and a nonprofit organization.
According to the founder, all the future profits will be donated to help fight climate change, as the company announced Wednesday
"It's been a half-century since we began our experiment in responsible business," the founder, Yvon Chouinard, 84, said.
The founder of Patagonia added "If we have any hope of a thriving planet 50 years from now, it demands all of us doing all we can with the resources we have.
According to Patagonia's founder, Yvon Chouinard, "As the business leader I never wanted to be, I am doing my part."
He said. "Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality and responsibility."
The company will continue to give 1% of its earnings to grassroots environmental groups, and the leadership will not change.
"Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source. We're making Earth our only shareholder. I am dead serious about saving this planet."