83-year-old Chouinard and his wife and two children have been re-configuring the structure of Patagonia to create a structure that will allow the brand to continue to make money but ensure the proceeds will be donated to benefit environmental efforts.

In a letter penned by Chouinard, the founder explained that he had been grappling with various predicaments in trying to comprehend how he could use Patagonia’s monetary value to create a positive difference.

“One option was to sell Patagonia and donate all the money. But we couldn’t be sure a new owner would maintain our values or keep our team of people around the world employed,” he writes. “Another path was to take the company public. What a disaster that would have been. 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.”

‘Earth is now our only shareholder’: Patagonia’s founder Yvon Chouinard has given away his company to fight climate change