Investing Patagonia’s Proceeds In Conservation

Greg Curtis, the former deputy general counsel of Patagonia, is responsible for giving away huge sums of money to causes that are aligned with Patagonia’s history of environmental activism. Adam Amengual for The New York Times

When news broke about the company’s future, we were in awe; since then we heard little so this is a welcome update:

Patagonia’s Profits Are Funding Conservation — and Politics

$71 million of the clothing company’s earnings have been used since September 2022 to fund wildlife restoration, dam removal and Democratic groups.

A little more than $3 million to block a proposed mine in Alaska. Another $3 million to conserve land in Chile and Argentina. And $1 million to help elect Democrats around the country, including $200,000 to a super PAC this month.

The site of the Kalivac Dam on the Vjosa River in Albania, where Holdfast has funded a major conservation project. Andrew Burr/Patagonia

Patagonia, the outdoor apparel brand, is funneling its profits to an array of groups working on everything from dam removal to voter registration.

In total, a network of nonprofit organizations linked to the company has distributed more than $71 million since September 2022, according to publicly available tax filings and internal documents reviewed by The Times.

Heirloom Captures Carbon

Heirloom’s plant in Tracy, Calif., pulls carbon dioxide from the air so it can be sealed permanently in concrete. Jim Wilson/The New York Times

We have been waiting for this day to arrive:

In a U.S. First, a Commercial Plant Starts Pulling Carbon From the Air

The technique is expensive but it could help fight climate change. Backers hope fast growth can bring down costs.

In an open-air warehouse in California’s Central Valley, 40-foot-tall racks hold hundreds of trays filled with a white powder that turns crusty as it absorbs carbon dioxide from the sky.

The start-up that built the facility, Heirloom Carbon Technologies, calls it the first commercial plant in the United States to use direct air capture, which involves vacuuming greenhouse gases from the atmosphere.

Civil Disobedience & Civil Response

A sign made by William Rixon, who has been protesting L.L. Bean’s partnership with Citibank to offer the Bean Bucks credit card. Courtesy photo

Thanks to Bill McKibben for bringing this to our attention. And kudos to L.L. Bean’s CEO for having the decency to respond to this activist’s efforts to raise awareness of the company’s climate-unfriendly banking choice. Iconic companies messaging their environmental responsibilities need to be held to the same standard as the lousiest companies.

Climate demonstrator outside L.L. Bean gets surprise visit from CEO

Bill Rixon outside the L.L. Bean retail store earlier this month. He was joined by Molly Schen, a member of Third Act Maine. Luna Soley / The Times Record

Freeport resident and retired schoolteacher William Rixon has been demonstrating outside L.L. Bean since the beginning of September. This week, he got a response.

“PROTECT MOTHER EARTH,” William Rixon’s homemade climate banner reads. Assembled with drop cloth and PVC piping, it stands at 10 feet, dwarfing Rixon.

Since September, Rixon and a group of fellow retirees have been standing with signs outside L.L. Bean’s sprawling downtown Freeport campus as well as its corporate headquarters just down the road.

Really, Kiel?

We are surprised that his employer cannot appreciate his decision:

Dr Gianluca Grimalda. Photograph: Institute for World Economy – Kiel

Climate scientist faces sack for refusing to fly to Germany from Solomon Islands archipelago

Dr Gianluca Grimalda told by Kiel Institute for World Economy he must be at his desk on Monday after finishing fieldwork

A climate researcher has been threatened with the sack by his employer after refusing to fly back to Germany at short notice after finishing fieldwork on Bougainvillein the Solomon Islands archipelago.

If You Are In The Market For A New Puffer Jacket

The first and last time some of us heard the word bullrush was with regard to baby Moses. That may change. Thanks to Patrick Greenfield at the Guardian for bringing this company and its innovative product to our attention:

Goosedown out, bulrush in: the plant refashioning puffer jackets

By 2026, a rewetted peatland site in Greater Manchester will be harvesting bulrushes in a trial that aims to boost UK biodiversity, cut carbon emissions and provide eco-friendly stuffing for clothes

Bulrushes grow in marshes and peatland across the UK. Photograph: Krys Bailey/Alamy

The humble bulrush does not look like the next big thing in fashion. Growing in marshes and peatland, its brown sausage-shaped heads and fluffy seeds are a common sight across the UK. Yet a project near Salford in north-west England is aiming to help transform the plant into an environmentally friendly alternative to the goosedown and synthetic fibres that line jackets, boosting the climate and the productivity of rewetted peatland in the process.

Virtue Signaling Versus Virtue Versus Wrong

Laurence D. Fink, who runs BlackRock, has urged companies to adopt socially conscious practices. Winnie Au for The New York Times

We have no access to Mr. Fink’s motives or those of the firm he runs, or to how he and his colleagues make decisions–only to some of the actions they have taken. Our view on him and his firm may be simplistic, in that we respect their initial leadership on ESG but fault them now for not doing more. Even if they have only been virtue-signaling, and even if they fall short on true virtue, what they have done is obviously much better than those who are wrong on climate change:

BlackRock’s Pitch for Socially Conscious Investing Antagonizes All Sides

Right-wing officials are attacking BlackRock for overstepping. Those on the left say the world’s biggest asset manager is not doing enough.

Environmental, social and governance — or E.S.G. — investing, “to some degree, is a smoke screen,” said Tariq Fancy, a former BlackRock executive. Chloe Ellingson for The New York Times

It was a clarion call to chief executives everywhere.

In 2018, Laurence D. Fink, the longtime chief executive of BlackRock, the world’s largest asset manager, urged corporate leaders to assess the societal impact of their businesses, embrace diversity and consider how climate change could affect long-term growth.

“Companies,” Mr. Fink wrote in his annual letter to chief executives, “must ask themselves: What role do we play in the community? How are we managing our impact on the environment? Are we working to create a diverse work force? Are we adapting to technological change?”

About Patagonia’s Book Imprint

(Photo credit: Foreground book photos courtesy of Patagonia)

We already long-respected the company for plenty of good reasons; now one more:

Hope and action: The mission of Patagonia Books

Philanthropy has been a part of Patagonia Books’ mission and operations from the beginning, says Director Karla Olson.

When Yvon Chouinard, the founder of the outdoor wear and gear giant Patagonia, announced his decision to donate his $3-billion company to the newly established nonprofit Holdfast Collective for the purpose of combating climate change, Yale Climate Connections was both impressed and curious.

Net Zero’s Three Major Flaws

The flaws of Net Zero campaigns have been linked to several times in our pages. So have some of the inspirational yet problematic proposals like tree-planting initiatives and direct air capture. I recommend taking five minutes to read and view this to get a clearer view on the three major flaws with the latest buzzwords:

New Climate Promises, Same Old Global Warming

Video by Agnes Walton and Kristopher Knight

Ms. Walton is a producer for Opinion video. Mr. Knight is an editor and filmmaker.

In what seems like a rapid shift of gears, corporations are finally jumping into action on climate change.

Clever Climate Work Perk

(Adam Maida / The Atlantic ; CSA Images / Getty)

If you have not been reading Robinson Meyer’s excellent newsletter, take a look at this week’s and you might want to sign up over at The Atlantic:

Corporate Climate Action Is an Employee Perk

In February, Bank of America offered its employees a notable perk: If they had worked at the bank for at least three years, and made less than $250,000, then it would give them $4,000 to buy a new electric car. (Employees interested in merely leasing an EV could claim $2,000.) The move, attached to a company-wide round of salary increases, wasn’t the first time that the bank had made the offer; it had made a similar one in 2015, and again in 2020, although those incentives had also applied to gas-electric hybrids.

Really, Chase?

A climate activist picketing outside a Chase Bank branch in New York earlier this year. Photograph by Erik McGregor / Getty

It is a no-brainer to oppose Line 3, but mere opposition does not amount to much. Action is the thing. And action is not always as cumbersome as it may sound. For example, if you bank with the people who are bullish on the future of oil, and who mix your money up with that money, it is time to rethink that relationship. Pull your money out of that bank:

Slow-Walking the Climate Crisis

“Greenwashing” is too kind a term; this is more like careful sabotage.

Travellers arriving in an unfamiliar city used to worry that they’d climb in a taxi and be driven to their destination by the most circuitous route possible, racking up an enormous bill. That’s pretty much what Big Oil and its allies in government and the financial world are doing with the climate crisis—in fact, at this point, it’s the heart of the problem.

Bubble Wrap & Our Future

It is not light reading. Nor short. But before you order anything else on Amazon you might want to at least skim this report:

Executive Summary

Amazon has a plastic problem. Oceana analyzed e-commerce and packaging market data1 as well as a recent scientific report, published in Science about predicted growth in plastic waste, that projects plastic pollution of aquatic ecosystems by country2 and found that Amazon has a large and rapidly growing plastic pollution footprint.

Beware Of “This Is Big” & Other Snappy Catchphrases

The Miniature Science series of ads, created last year by the very talented folks at BBDO on behalf of their client ExxonMobil, are snappy.

By now most people who pay attention to climate science are aware of ExxonMobil’s active role in creating doubt about the emerging facts that their own scientists established about mankind’s impact on climate. In addition to actors like that giant petrochemical company, there are also behind-the-scenes, complicit creatives who have provided essential messaging to strengthen the deception. In a new essay, Bill McKibben turns his attention to those folks, and expects accountability:

If money is the oxygen on which the fire of global warming burns, then P.R. campaigns and snappy catchphrases are the kindling. Illustration by Lia Liao

When “Creatives” Turn Destructive: Image-Makers and the Climate Crisis

Past sins are past no more: an overdue historical recalibration is under way, with monuments being pulled down, dorms renamed, restitution offered. People did things, bad things; even across the span of centuries, they’re being held to account, and there’s something noble about that. The Reverend Robert W. Lee IV, for instance, recently backed the removal of his famous ancestor’s statue from Richmond, Virginia. The memorial, he wrote, “is a hollow reminder of a painful ideology and acts of oppression against black people. Taking it down will provide new opportunities for conversations, relationships and policy change.” Such a response raises an uncomfortable question: What are we doing now that our descendants will need to apologize for? Might we be able to get ahead of the sin this time?

If You Have IKEA Stuff, Note This

I am not a fan of IKEA. That said, I shopped there once, as a younger parent. There seemed no other choice at the time, and I did not regret it until I became more acutely conscious of the perils posed by this business model. Thanks to Olivia Rosane at EcoWatch for sharing this story, which I missed in the Guardian because I scan the Environment section and usually skip the Business section (note to self):

IKEA to Buy Back Used Furniture This Black Friday in 27 Countries

IKEA created the world’s longest outdoor bookcase on Bondi Beach, Australia to celebrate its 30th birthday and promote literacy on Jan. 31, 2010. James D. Morgan / Contributor / Getty Images News

Swedish furniture giant IKEA has a plan to make this year’s Black Friday a little greener.

As part of its bid to become more sustainable, the store will allow customers to sell back their used furniture for up to half of its original price.

“Sustainability is the defining issue of our time and IKEA is committed to being part of the solution to promote sustainable consumption and combat climate change,” UK and Ireland IKEA retail manager Peter Jelkeby told The Guardian.

Consider Switching Your Search Engine

Christian Kroll was inspired to change the direction of his life after travelling through India

I remember testing Ecosia in 2013, when we were based in India. For some reason I no longer recall it did not remain my default search engine then. But after reading again about it now–and more about its founder’s ideas and expectations, and most importantly his actions–I was intrigued enough to do another test. Not exhaustive, but I compared the search results on Ecosia versus Google for a bunch of words and phrases that are of interest to me. Since Ecosia is connected to Bing I did not need to compare those results. Result? I have just made Ecosia my default search engine, for the reasons Mr. Kroll expected I would. And if for any reason I decide to switch back, this time I will report why here. But I do not expect to. This is an attempt to be consistent with my own expectations. Thanks to Suzanne Bearne for bringing this/him back to my attention:

The search engine boss who wants to help us all plant trees

It supports 20 tree-planting projects in 15 different countries. Photo: JOSHI GOTTLIEN.

The BBC’s weekly The Boss series profiles different business leaders from around the world. This week we speak to Christian Kroll, the founder and chief executive of internet search engine Ecosia.

Christian Kroll wants nothing less than to change the world.

“I want to make the world a greener, better place,” he says.

“I also want to prove that there is a more ethical alternative to the kind of greedy capitalism that is coming close to destroying the planet.”

No Place Like Home

Thanks as always to Bill McKibben, in particular this time for disguising a podcast recommendation (click the image above to go to the website of the podcast) as a recommendation for regulating Facebook:

What Facebook and the Oil Industry Have in Common

Why is it so hard to get Facebook to do anything about the hate and deception that fill its pages, even when it’s clear that they are helping to destroy democracy? And why, of all things, did the company recently decide to exempt a climate-denial post from its fact-checking process? The answer is clear: Facebook’s core business is to get as many people as possible to spend as many hours as possible on its site, so that it can sell those people’s attention to advertisers. (A Facebook spokesperson said the company’s policy stipulates that “clear opinion content is not subject to fact-checking on Facebook.”) This notion of core business explains a lot—including why it’s so hard to make rapid gains in the fight against climate change.

Bureo & Tin Shed Ventures

Bureo is news to us, and we like good news. We are always on the lookout for fellow travelers, and while Tin Shed Ventures is by no means new it is news to us. And newsworthy based on the partners they have chosen:

Tin Shed Ventures is Patagonia’s corporate venture capital fund, which invests in start-ups that offer solutions to the environmental crisis. Originally launched as $20 Million and Change in May 2013, Tin Shed Ventures partners with businesses focused on building renewable energy infrastructure, practicing regenerative organic agriculture, conserving water, diverting waste and creating sustainable materials.

Listen To Workers, Especially On This Topic

Amazon workers lead a walk out to demand that leaders take action on climate change in September. Photograph: Jason Redmond/AFP via Getty Images

We hope someone in the upper ranks of Amazon is listening:

Hundreds of workers defy Amazon rules to protest company’s climate failures

Employees ‘needed to stand up for what’s right’ despite policy barring workers from speaking about business

Hundreds of Amazon employees defied corporate policy to publicly criticize the company for failing to meet its “moral responsibility” in the climate crisis.

More than 340 tech workers at Amazon used the hashtag #AMZNSpeakOut in public statements that condemn the company for not taking sufficient action on the climate crisis.

Investing With Climate Change In Mind Is The Right Thing To Do

“The evidence on climate risk is compelling investors to reassess core assumptions about modern finance,” Laurence D. Fink, the chief of BlackRock, wrote in his annual letter. Damon Winter/The New York Times

He may be late, but better that versus never. Investing with consideration for the environment seemed obvious long ago to some, but not to the decision-makers who most count–those whose investment decisions impact generations to come. Presumably, from the size of fund he manages, one of the most respected investors has decided to do the right thing as best he can, and that may be huge:

BlackRock Will Put Climate Change at Center of Investment Strategy

In his influential annual letter to chief executives, Larry Fink said his firm would avoid investments in companies that “present a high sustainability-related risk.”

BlackRock has faced criticism for being behind on pushing environmental issues. Lucas Jackson/Reuters

Laurence D. Fink, the founder and chief executive of BlackRock, plans to announce Tuesday that his firm will make investment decisions with environmental sustainability as a core goal.

BlackRock is the largest in its field, with nearly $7 trillion under management, and this move will fundamentally shift its investing policy — and could reshape how corporate America does business and put pressure on other large money managers to follow suit.

Stop Funding Arctic Drilling

‘The Arctic refuge is not just a piece of land with oil underneath. It’s the heart of our people; our food security, way of life and very survival depends on its protection.’ Photograph: Saul Loeb/AFP/Getty Images

Thanks to the Guardian for this op-ed by Bernadette Demientieff:

Goldman Sachs agreed to stop funding Arctic drilling. Will other banks join them?

If banks destroy our homeland, they’ll have the Gwich’in Nation, and the millions of Americans who stand with us, to answer to

Last fall, I traveled more than 4,000 miles from my home in Alaska to meet with major banks and urge them to help protect the Arctic national wildlife refuge from destructive oil drilling and exploration. In all the years I’ve worked to defend this place, we’ve been focused on trying to make our voices heard by leaders in the White House or in Congress, and I never thought I’d be sitting in a conference room on the 43rd floor of Goldman Sachs’ global headquarters in downtown New York, talking about the Arctic refuge.

Foodrunners

Foodrunners may have the unusual problem of overabundance, in the form of waste and generous people donating their time. Thanks to Marisa Endicott (again) and Mother Jones for bringing this organization to our attention.

Alleviating hunger, one volunteer and donor at a time:

Tech Company Free Meals Beget a Lot of Leftovers. Meet the Man on a Mission to Rescue Them.

Food Runners saves extra grub before it’s wasted, and delivers it to hungry mouths.

Marisa Endicott

Tso loads his car with Tetris-like precision. Marisa Endicott

I meet Les Tso on a corner in San Francisco’s SoMa district on a wet Thursday afternoon. He pulls his silver Isuzu SUV into an alley. “Today because it’s the first rain, people are going to be driving cluelessly—there are a lot of Uber and Lyft drivers that come from out of the area,” Tso warns me. “Makes it more exciting, I guess.”

Tso picks up donations from an average 16 places a day. Marisa Endicott

Tso works as a driver for Food Runners, a nonprofit that picks up leftover food from grocery stores, companies, events, and restaurants and brings it to organizations working to feed the hungry. For four hours every weekday, Tso braves the worst of Bay Area traffic to makes his 80 to 90 pickups (an average of 16 a day), primarily from tech companies—including Google, Juul, and LinkedIn—that have become an omnipresent force in the city.