Additionally, in January 2012, we amended our articles of incorporation to adopt a commitment to sustainability and treating workers well, and registered our business in California as a Benefit Corporation. California is one of twenty-seven states that permit companies to designate an explicit social or environmental mission, and create a legally binding fiduciary responsibility to take into account the interests of workers, the community and the environment as well as its shareholders. Getting brands to reexamine their fiduciary responsibility and certifying B-corporations is part of B Lab’s larger goal to change the nature of business by changing corporate law. The employee experience below at Patagonia, compared to a typical U.S. based company. Address: 259 W Santa Clara St. Zip: 93001-2545. And nonprofit organizations and charities are often needlessly restricted in their ability to raise capital when they need to grow. In 2017, the company was recognized for its innovative family/maternity leave policies. Why will each company under Patagonia Works be organized as a B Corp? Governmental Public Benefit Corporations. Pike Sheehy: In 2012, we also became a benefit corporation [benefit corporations commit to creating public benefit and sustainable value in addition … Stonyfield, like Ben & Jerry’s and Patagonia, is now a Certified B Corporation. Create a free Patagonia account. We’ve pledged 1% of sales to the preservation and restoration of the natural environment. Companies like Etsy, Patagonia and Warby Parker are among a new generation of socially responsible businesses that can fall under the category of a benefit corporation or a Certified B Corp. Patagonia was the first California company to sign up for B certification, in January, 2012, joining over 500 certified B Corporations in 60 different industries. Their criteria for the best product rests on function, repairability, and, foremost, durability. patagonia.com. Sacramento, California. The minimum score for B Corp certification is 80 out of 200 points. Glassdoor is your resource for information about Patagonia benefits and perks. We look forward to hearing your thoughts on our work. Those can be tricky demands to make politely. The B stands for “benefit,” and refers to benefiting workers, the community and the environment. Corporate Structure: Benefit Corporation. “Patagonia is trying to build a company that could last 100 years,” said Patagonia founder Yvon Chouinard. Everything we make has an impact on people and the planet. “Benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in … Certified BCorp: True. Patagonia is a B-Corp, or ‘Benefit Corporation’. Provide your account email address to receive an email to reset your password. Patagonia has challenged suppliers to make bids that include the cost of providing child care and organic food for employees. In 2018, we changed our mission statement to amplify this directive: “We’re in business to save our home planet.” Patagonia became a registered benefit corporation in 2012, on the Buy used, trade in and fix your gear through Worn Wear. Patagonia founder Yvon Chouinard led the largest group of businesses to register on the legislation’s first effective date among the 7 states that have passed benefit corporation laws. Benefit corporations are for-profit corporations that need to consider stakeholders, morals, or missions in addition to making a profit for their shareholders. Track orders, save products, easy hassle-free returns & exchanges. Create a free Patagonia account. On January 1, 2012, the first day California-based companies could legally change their corporate status to become a ‘benefit corporation,’ Patagonia founder Yvon Chouinard marched into the office of the Secretary of State and filed papers to put his company’s principles into practice. Feature length documentaries, shorts and more. “Patagonia is trying to build a company that could last 100 years,” said founder Yvon Chouinard on the day Patagonia signed up. The dozen CEOs filed their documents at 9:30 a.m. as soon as the offices of the California Secretary of State opened. Patagonia was the first California company to sign up for B certification, in January, 2012, joining over 500 certified B Corporations in 60 different industries. ... and Patagonia, a company working to promote safe, fair, legal and humane working conditions. Sign up for exclusive offers, original stories, activism awareness, events and more. Patagonia and Ben & Jerry’s are also certified B Corporations. The Benefit Corporation from Theory to Practice:A Case study of the New Corporate Model, Its Obligation to Maximizing a Triple Bottom Line, and How the Environment and Society Benefit By, Lauren Turner Zahringer Masters Dissertation Paper University College London MSc Environment, Science and Society Patagonia doesn’t need to worry about investors’ opposing its environmental work, because that work is simply part of the job. Furthermore, “Benefit corporations do NOT need to be certified. Below, we’ve summarized the areas of our work that B Lab highlighted as “Best Practices” and those where we have opportunities to improve. B Corps (benefit corporations) are a new kind of corporation legally required to: 1) have a corporate purpose to create a material positive impact on society and the environment; 2) redefine fiduciary duty to require Patagonia founder Yvon Chouinard explains: “Benefit Corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.” Patagonia founder Yvon Chouinard explains: “Benefit Corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.”. Benefits information above is provided anonymously by current and former Patagonia employees, and may include a … We are proud of our score of 116 but know we can do better and have already started developing plans to improve on the results of our B Impact Assessment. King Arthur sponsors school education programs and donates substantial sums to programs that combat hunger. The community of benefit corporations includes well-known and highly-profitable companies such as Patagonia and Klean Kanteen. Patagonia now has $600m in annual revenues from sales of its outdoor sports apparel, making it the largest company so far to sign as a benefit corporation. We are inspired by the growth of the B Corp community and hope that our story helps to inspire others. “Patagonia is trying to build a company that could last 100 years,” said founder Yvon Chouinard on the day Patagonia signed up. Consumers want corporations to take strong stands--and Patagonia is pioneering how to do it. Download the 2013 PDF Patagonia Works (“Patagonia”) is an outdoor apparel company with a more than 40-year history of environmental conservation and activism. Introduction. Patagonia now has $600m in annual revenues from sales of its outdoor sports apparel, making it the largest company so far to sign as a benefit corporation. The concept is a relatively new one, but it's a way for … Download the PDF Patagonia Becomes A Benefit Corporation. Benefit Corporation Update: Patagonia Passes B Impact Assessment, Improves Score to 116, Dan Ross talks about why he supports B Corp, We are excited to share that we improved on our 2011 score, going from 107 to 116 in 2014, We achieved 58% of the total possible score. We achieved 58% of the total possible score, and we work hard to be a responsible company. We aspire to make the best products for the most committed athletes, all the while trying to minimize our impact on the earth and the communities that inhabit it. Fiscal Year 2017 Annual Benefit Corporation eport. Just Good Business: An Investor’s Guide to B Corps Why will each company under Patagonia Works be organized as a B Corp? Download the 2015 PDF Stonyfield also intends to amend its articles of incorporation within the next 18 months to join Ben & Jerry’s and Patagonia as benefit corporations. 1. Companies like Etsy, Patagonia and Warby Parker are among a new generation of socially responsible businesses that can fall under the category of a benefit corporation or a Certified B Corp. Ridgeway said that the company … The B stands for “benefit,” and refers to benefiting workers, the community and the environment. Video: Patagonia ambassador Dan Ross talks about why he supports B Corps. “Benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards … There are now nearly chartered 4,000 benefit corporations. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. We’ve also learned that B Lab’s assessment is tough! © 2020 Patagonia, Inc. All Rights Reserved. Among the most direct ways they can limit … By providing your email address, you agree to our Privacy Policy and Terms of Service. Provide your account email address to receive an email to reset your password. Video: Patagonia ambassador Dan Ross talks about why he supports B Corps.. To maintain our status as a Benefit Corporation (according to the State of California’s requirements) and our status as a B Corp (according to B Lab’s requirements) we recently completed our second official B Impact Assessment, a biannual requirement for B Lab. B Lab is a nonprofit organization based in Pennsylvania that certifies B Corporations, in the way TransFair certifies Fair Trade coffee or USGBC certifies LEED buildings. Crafting the mission: Initially, Patagonia questioned how — and in what level of detail — its philosophies should be ingrained in its benefit corporation structure, which was established in 2012. Through the leadership of the B Corp Community, laws have been passed in 26 states, plus DC, creating a new type of corporation—the benefit corporation—that best meets the needs of entrepreneurs and investors seeking to use business as a force for good." Learn about Patagonia , including insurance benefits, retirement benefits, and vacation policy. Misconception: Benefit corporations have trouble raising money Benefit corporations are attractive to a large and growing market for socially responsible and impact investments. Download the 2017 PDF Learn about Patagonia , including insurance benefits, retirement benefits, and vacation policy. Patagonia was among a dozen companies to take the opportunity to become a "benefit corporation" on the first day such a designation went into effect in California. View 37 photos for 5508 Patagonia Pass, Austin, TX 78738 a 3 bed, 2 bath, 2,011 Sq. Benefit Report: http://www.patagonia.com/pdf/en_US/bcorp_annual_report_2014.pdf. What is a B Corp (benefit corporation)? The Potential Impact on Not-for-Profit Organizations. Do you have to be a U.S. citizen or a U.S. resident to incorporate and/or own a corporation in Texas? Build the best product. Since then, we’ve enjoyed continued growth by all measures. But the King Arthur Flour Company is different from its major competitors, and not just because of its baking qualities. Patagonia Works (“Patagonia”) is an outdoor apparel company with a 40-year history of environmental conservation and activism. To qualify as a B Corp, a firm must have an explicit social or environmental mission, and a legally binding fiduciary responsibility to take into account the … Ultimately, it is important to us that Patagonia plays a role in preserving our natural resources and the connections that humans have to the earth. Because we know prioritizing durability results in consuming less energy, wasting less water and creating less trash. Patagonia considers itself an "activist company". About The Company Our mission is to save our home planet. We strive to accomplish this to the best of our ability and maintain a level of transparency about the impacts caused by our operations. Patagonia was the first California company to sign up for B certification, in January, 2012, joining over 500 certified B Corporations in 60 different industries. Learn more in the video below! A public benefit corporation created by a government, also known as a statutory corporation or government owned corporations, generally provide free or subsidized services or benefits for the public. To formalize these efforts and legally preserve our values in Patagonia’s business framework for the future, we became a B Corp in December 2011 with certification from B Lab. First Name * Company or Firm Name * … Patagonia Inc: A Benefit Corp Case Study 1. Download the 2018 PDF Many clients ask us about becoming a B Corp and whether it’s right for them. Patagonia was the first California company to sign up for B certification, in January, 2012, joining over 500 certified B Corporations in 60 different industries. Greater Grand Rapids, Michigan Area Program Manager at Shape Corp. The benefit corporation is a legal entity that enables a socially and environmentally committed company to write those values into its charter and articles of incorporation. Ft. condo/townhome/row home/co-op built in 2016 that sold on 12/06/2019. Through B Lab’s assessment process, we’ve learned a lot about how to improve as a business. She works on special projects related to Corporate Responsibility and Environmental Assessment. Nonprofits can't be benefit corporations, but they may create one. At the time of writing there are 1,128 B Corps across 35 countries, representing 121 industries. A benefit corporation, meanwhile, is a legal status conferred by one of 27 states (plus Washington, D.C.) that have passed legislation allowing a new class of corporation. If you are using a screen reader and having difficulty please call us at 1-800-638-6464. The signature benefit at Patagonia does not directly address the question of how to help the environment — it addresses the question of why. B All That You Can B! Like all businesses, we face unique and specific challenges based on the size of our business, the scope of the products we make and the depth of our supply chain. Posted by: Team Tony On January 1, 2012, the first day California-based companies could legally change their corporate status to become a ‘benefit corporation,’ Patagonia founder Yvon Chouinard marched into the office of the Secretary of State and filed papers to put his company’s principles into practice. Elissa Loughman is Manager of Product Responsibility for Patagonia. Patagonia Development, LLC Overview. Patagonia Works became California’s first Benefit Corporation on the day the law took effect, January 3, 2012. Patagonia has a passion for the outdoors. Download the 2016 PDF These are difficult challenges. Patagonia was among a dozen companies to take the opportunity to become a "benefit corporation" on the first day such a designation went into effect in California. Above: Yvon Chouinard gives a short speech after Patagonia became the first California company to sign up for Benefit Corporation status. Download the 2019 PDF In an op-ed from July 2014, New York Times columnist David Brooks said, “B Corporations are a way to transcend the contradictions between the ineffective parts of the social sector and myopic capitalism.” Patagonia is excited to be a part of this effort and what it represents for our business, our employees and our customers. As a Benefit Corporation, Patagonia would be legally required to consider its environmental and social impacts, and could even prioritize those considerations ahead of profits. Sign up for exclusive offers, original stories, activism awareness, events and more. The movement is growing, and becoming a B Corp, though challenging, isn’t as difficult as you may think. For-profit firms face legal pressure to forgo social goals in favor of maximizing profits. A company must also amend its articles of incorporation to adopt B Lab’s commitment to sustainability and treating workers well. “Benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.”, Annual Benefit Corporation Report Photo: Patagonia Archives. It uses recycled paper and renewable energy and gives food scraps to a local farmer. We also hear a lot of confusion about the difference between a “B Corp” and a “benefit corporation.”. Some well-known benefit corporations include Patagonia and King Arthur Flour. What is a B Corp (benefit corporation)? Consumers want corporations to take strong stands--and Patagonia is pioneering how to do it. Get listed as a Benefit Corp . Patagonia Development, LLC filed as a Domestic Limited Liability Company (LLC) in the State of Texas on Thursday, June 15, 2017 and is approximately three years old, as recorded in documents filed with Texas Secretary of State. To qualify as a B Corp, a firm must have an explicit social or environmental mission, and a legally binding fiduciary responsibility to take into account the interests of workers, the community and the environment as well as its shareholders. We’ve pledged 1% of sales to the preservation and restoration of the natural environment. Patagonia; Are Benefit Corporations Hybrid Nonprofits? The University of Michigan’s Ross School of Business's Positive Business Conference will take place May 12-13, 2016 and empower attendees to become po The B stands for “benefit,” and refers to benefiting workers, the community and the environment. Gone are the days of companies trying to stay neutral on hot-button issues. This means employees, communities and the environment rank alongside shareholders in … Ridgeway said that the … If you are using a screen reader and having difficulty please call us at 1-800-638-6464. Learn More 91% of employees at Patagonia say it is a great place to work compared to 59% of employees at a typical U.S.-based company . Website: Current law requires corporations to favor the financial interests of shareholders over the interests of workers, communities and the environment. Gone are the days of companies trying to stay neutral on hot-button issues. We did well in some areas and have room for improvement in others. Patagonia takes next steps to certify environmental performance after instutionalizing new legal structure as California's first benefit corporation; joins community of 500 companies to redefine business in today's world. For similar reasons, benefit corporations … Patagonia’s Opportunities for Improvement. The B stands for “benefit,” and refers to benefiting workers, the community and the environment. In addition a B Corp must pay an annual fee based on revenues, biannually complete a B Impact Report (a lengthy questionnaire that measures social and environmental impact), meet B-Lab’s comprehensive social and environmental performance standards and make that B Impact Report public, in order to receive the certification from B Lab. Benefit corporations are neither nonprofits nor hybrid nonprofits. Most recently, Connecticut's law became effective in October 2014. Glassdoor is your resource for information about Patagonia benefits and perks. A benefit corporation, meanwhile, is a legal status conferred by one of 27 states (plus Washington, D.C.) that have passed legislation allowing a new class of corporation. It can be challenging at times for us to clearly convey how this passion for the outdoors is so closely linked to our business, the products we make and the environmental initiatives we pursue. Download the PDF. Benefits information above is provided anonymously by current and former Patagonia employees, and may include a … In 2012, Patagonia became a Certified B Corporation, making it a for profit company that meets “rigorous standards of social and environmental performance, accountability, and transparency”. A public benefit corporation is a corporation created to generate social and public good, and to operate in a responsible and sustainable manner.. Track orders, save products, easy hassle-free returns & exchanges. The concept is a relatively new one, but it's a way for … The signature benefit at Patagonia does not directly address the question of how to help the environment — it addresses the question of why. King Arthur is 100 percent owned by its employees, who share in profits and receive 40 hours of paid volunteer time each year. Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. © 2020 Patagonia, Inc. All Rights Reserved. It is delightful and quite encouraging to more and more businesses make an effort to give back to the world. To qualify as a B Corp, a firm must have an explicit social or environmental mission, and a legally binding fiduciary responsibility to take into account the … Together, the Benefit Corporation structure and B Corp accountability requirements provide It is delightful and quite encouraging to more and more businesses make an effort to give back to the world. Buy used, trade in and fix your gear through Worn Wear. Benefit corporation legislation has been enacted in 27 states with the original legislation first appearing in Maryland in 2010. Type * Get listed as an attorney . B Corps (benefit corporations) are a new kind of corporation legally required to: 1) have a corporate purpose to create a material positive impact on society and the environment; 2) redefine fiduciary duty to require So-called B Corporations publicly commit to safe and responsible business practices that "benefit all," among other criteria. A public benefit corporation is a brand-new legal tool to create a strong basis for long-term mission alignment and value creation.3 min read. Learn more about our environmental and social responsibility program. The company was the first to be registered as a benefit corporation in the State of California, after the California Corporations Code were revised setting new specific requirements. Certified B Corporations. VENTURA, Calif., Jan 17, 2011 – Today, Patagonia earned certification as a B Corporation, joining more than 500 leading businesses from 60 industries that share a common goal to redefine success in business. Download the PDF Sign up for exclusive offers, original stories, activism awareness, events and more from Patagonia. The approach they take toward product design demonstrates a bias for simplicity and utility. Learn more about our environmental and social responsibility program. Pike Sheehy: In 2012, we also became a benefit corporation [benefit corporations commit to creating public benefit and sustainable value in addition … “Benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.” Download the 2017 PDF By providing your email address, you agree to our Privacy Policy and Terms of Service. To maintain our status as a Benefit Corporation (according to the State of California’s requirements) and our status as a B Corp (according to B Lab’s requirements) we recently completed our second official B Impact Assessment, a biannual requirement for B Lab. Stonyfield also intends to amend its articles of incorporation within the next 18 months to join Ben & Jerry’s and Patagonia as benefit corporations. Use comparisons and community: Benefit corporations and mission-driven companies often demand unusual strategies of themselves and their partners. An Entrepreneur's Guide to Certified B Corporations and Benefit Corporations Protecting and preserving the environment is a core business tenet as reflected in our mission to “Build the best product, cause no unnecessary harm, use business to inspire and implement solutions to the … Patagonia founder Yvon Chouinard explains: “Benefit Corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership, by institutionalizing the values, culture, processes, and high standards put in place by founding entrepreneurs.” We sell regenerative organic foods & clothing for climbing, skiing/snowboarding, surfing, flyfishing, mountain biking & trail running. Get Listed. Patagonia became California’s first Benefit Corporation in 2012, which made these practices part of our legal charter and embedded our core values into Patagonia’s foundation forever. A professional service corporation, as the name implies, is a corporation made up exclusively of licensed professionals. Certification follows Patagonia's filing to become one of California's first Benefit Corporations on January 4th, 2012. Patagonia Works and its subsidiaries share common values, operate in a similar manner and have all … A Legislative Guide To Benefit Coporations An exception in the outdoor clothing market, where weak policies abound, Patagonia has worked hard to improve workers’ rights in its supply chains. Patagonia and Ben & Jerry’s are also certified B Corporations. There are now nearly chartered 4,000 benefit corporations. Patagonia, Inc.'s values reflect those of a business started by a band of climbers and surfers, and the minimalist style they promoted. Everything we make has an impact on people and the planet. We are excited to share that we improved on our 2011 score, going from 107 to 116 in 2014. B Corps are even receiving praise from traditional media outlets. Some advisers argued against committing to a higher level of specificity. B Lab spent a day visiting Patagonia’s Ventura headquarters in September 2014 to verify our score through an on-site audit. These companies are not only profitable, but leaders in their industries who show how the benefit corporation structure can be used to generate long-term value. Patagonia Becomes A Benefit Corporation. Stonyfield, like Ben & Jerry’s and Patagonia, is now a Certified B Corporation. Read, watch, and listen to our latest stories and the best of our archives. January 4th, 2012 legal and humane working conditions organizations and charities are needlessly... Well in some areas and have room for improvement in others … Inc. Benefit corporation. ” ability and maintain a level of transparency about the difference between “... Best product rests on function, repairability, and not just because of its baking.. To grow to be a U.S. resident to incorporate and/or own a corporation in Texas highly-profitable companies as..., wasting less water and creating less trash s and Patagonia, is now certified! Criteria for the best of our ability and maintain a level of transparency about the difference between “. Thoughts on our 2011 score patagonia benefit corporation going from 107 to 116 in.... Hear a lot about how to do it major competitors, and vacation policy they need to grow receiving from. Based company sign up for exclusive offers, original stories, activism awareness, events and more our environmental social. Difficulty please call us at 1-800-638-6464 its employees, who share in and! Case Study 1 is your resource for information about Patagonia, including insurance benefits, retirement benefits and... Level of specificity of specificity water and creating less trash ’ s are also certified B corporations to accomplish to! S and Patagonia, including insurance benefits, and, foremost, durability higher level of.. At the time of writing there are 1,128 B Corps across 35 countries, representing 121 industries media... Of the California Secretary of State opened helps to inspire others score through an on-site.!, TX 78738 a 3 bed, 2 bath, 2,011 Sq are for-profit corporations that need to worry investors! Child care and organic food for employees 58 % of sales to the best product rests on function,,... Firm Name * … Fiscal Year 2017 Annual benefit patagonia benefit corporation is a B-Corp, or ‘ benefit is... Is now a certified B corporation criteria for the best of our ability and a. Of transparency about the impacts caused by our operations above: Yvon Chouinard gives a short after. Of its baking qualities in others recycled paper and renewable energy and food... Writing there are 1,128 B Corps benefits, retirement benefits, and a... Reset your password and becoming a B Corp certification is 80 out of 200 points simplicity... Patagonia ’ s right for them an effort to give back to the world ) is an apparel. T as difficult as you may think Works be organized as a B Corp the King Arthur 100... Know prioritizing durability results in consuming less energy, wasting less water and creating less trash of California first! Growing, and listen to our Privacy policy and Terms of Service, representing 121 industries and to! `` benefit all patagonia benefit corporation '' among other criteria mountain biking & trail running hearing thoughts! Addition to making a profit for their shareholders company to sign up for exclusive offers original... Of product responsibility for Patagonia well-known and highly-profitable companies such as Patagonia and &... Donates substantial sums to programs that combat hunger Firm Name * … Fiscal Year 2017 Annual corporation. Right for them trail running want corporations to take strong stands -- and Patagonia is a B-Corp or! Email address to receive an email to reset your password by all measures the —. That include the cost of providing child care and organic food for.! Of California 's first benefit corporations are patagonia benefit corporation corporations that need to be responsible. The job corporations that need to consider stakeholders, morals, or missions in addition to a. Paper and renewable energy and gives food scraps to a local farmer publicly to! Screen reader and having difficulty please call us at 1-800-638-6464 sponsors school education programs and donates substantial to! Corporation is a corporation created to generate social and public good, and a! Patagonia Pass, Austin, TX 78738 a 3 bed, 2 bath, 2,011 Sq that improved... Inspired by the growth of the natural environment ” ) is an outdoor apparel company a. Just because of its baking qualities its innovative family/maternity leave policies consumers corporations! California 's first benefit corporations are for-profit corporations that need to consider stakeholders,,. Total possible score, going from 107 to 116 in 2014 also hear a lot about how to patagonia benefit corporation environment... Working conditions as you may think an email to reset your password of State opened, benefit... 'S law became effective in October 2014 is growing, and, foremost durability! To more and more not just because of its baking qualities compared to large... Latest stories and the best of our archives on hot-button issues since then, we ’ ve enjoyed growth... Company or Firm Name * … Fiscal Year 2017 Annual benefit corporation status that sold on 12/06/2019 ve also that. Buy used, trade in and fix your gear through Worn Wear them! Needlessly restricted in their ability to raise capital when they need to a... & exchanges you may think in October 2014 well-known and highly-profitable companies such as and. Worn Wear on people and the planet may create one adopt B Lab ’ s Patagonia! Is different from its major competitors, and becoming a B Corp, though challenging, isn ’ t to. The question of why for them Patagonia doesn ’ t as difficult as may. Advisers argued against committing to a higher level of specificity working to promote safe, fair, legal and working. That sold on 12/06/2019 exclusive offers, original stories, activism awareness, events and more are days. 'S filing to become one of California 's first benefit corporations includes well-known and highly-profitable companies such Patagonia! Between a “ benefit corporations have trouble raising money benefit corporations include Patagonia and Ben & Jerry ’ s also... Wasting less water and creating less trash local farmer U.S. resident to and/or. Has an impact on people and the best of our ability and maintain a level of specificity our! Impact investments impacts caused by our operations in favor of maximizing profits built! Licensed professionals to be a responsible company and King Arthur sponsors school education programs and donates sums! Accomplish this to the preservation and restoration of the job to inspire others to!, isn ’ t as difficult as you may think to patagonia benefit corporation about investors ’ its. 121 industries about our environmental and social responsibility program as difficult as you may think provide your account email to... Corp community and the environment alignment and value creation.3 min read, we ’ ve also learned that Lab... Is a B-Corp, or missions in addition to making a profit for their shareholders and... Assessment is tough elissa Loughman is Manager of product responsibility for Patagonia, as the Name implies, a!, '' among other criteria trail running some well-known benefit corporations includes well-known and highly-profitable companies such as and. Listen to our latest stories and the best of our archives, compared to a large growing... School education programs and donates substantial sums to programs that combat hunger orders, save,... Works on special projects related to Corporate responsibility and environmental assessment they need to be a responsible and impact.. Higher level of transparency about the difference between a “ benefit corporations include Patagonia and King Arthur sponsors education... And maintain a level of transparency about the impacts caused by our operations headquarters in September 2014 verify... And/Or own a corporation created to generate social and public good,,... She Works on special projects related to Corporate responsibility and environmental assessment for information about benefits! Us at 1-800-638-6464 our home planet professional Service corporation, as the Name,. The impacts caused by our operations the approach they take toward product design demonstrates a bias for simplicity utility. Challenging, isn ’ t as difficult as you may think the planet more from Patagonia Works be organized a... Patagonia, is now a certified B corporation gone are the days of companies to. We know prioritizing durability results in consuming less energy, wasting less water and creating less.. Also learned that B Lab ’ s right for them, because that work is simply part of the environment. Our home planet about Patagonia, compared to a local farmer, but may! To patagonia benefit corporation Privacy policy and Terms of Service are 1,128 B Corps are receiving!, surfing, flyfishing, mountain biking & trail running, ” and refers to benefiting,! Recently, Connecticut 's law became effective in October 2014 furthermore, “ benefit, ” and to. A higher level of specificity is growing, and to operate in a company. Over the interests of shareholders over the interests of shareholders over the interests of workers, the community and environment. Prioritizing durability results in consuming less energy, wasting less water and creating less trash from traditional outlets! Commit to safe and responsible business practices that `` benefit all, among. Of the natural environment and a “ B Corp and whether it ’ s first benefit corporation the.