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Over the years, Patagonia has been recognized as much for its social and environmental practices as it has for its clothes. In an unprecedented move in 2022, the Chouinard family gave the company away, converting ownership to a simple structure of trusts so that all its profits could be used to protect our “home planet” and reverse the climate crisis, an enduring and pressing issue that has been around as long as the company has.
Today we are joined by a returning guest and one of Patagonia’s original employees, Vincent Stanley, who currently serves as the company’s in-house philosopher (and, more informally, their chief storyteller). Vincent also co-authored The Responsible Company: What We’ve Learned From Patagonia’s First 50 Years with Yvon Chouinard. The book draws on 50 years of experience at Patagonia to challenge business owners and leaders to reevaluate their businesses in a time of cultural and climate chaos.
In this conversation with Vincent, we discuss how Patagonia’s mission statement has evolved since the first book was written in 2012 and what the future of “the responsible company” looks like in practice. We also touch on Patagonia Provisions, the expanding B Corp movement, the responsibility that each of us has to address the environmental and social crisis, and more. For simple but powerful advice on why we need to rethink business structure at a time when traditional capitalism is no longer working for people or the planet, be sure to tune in today!
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Key Points From This Episode:
• How The Future of the Responsible Company reflects Patagonia’s evolution. [0:04:48]
• Examples that illustrate how the company’s mission statement has been updated to serve both people and the planet. [0:14:55]
• Insight into larger shifts that will redefine what Patagonia does in the future. [0:17:05]
• The regenerative agriculture focus of Provisions and the challenges it has faced. [0:20:11]
• Ways that decision-making has changed since the creation of the Purpose Trust. [0:22:30]
• Tension in the B Corp community as the movement expands to include “bad players.” [0:28:40]
• Opportunities for the movement to deepen its impact (and lessons to be learned). [0:31:51]
• Takeaways from the book that Vincent hopes readers will apply in their daily lives. [0:34:29]
• What you can do to help Vincent and Patagonia create the next economy. [0:37:31]
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Quotes:
“It looks like we’re facing two crises: social and environmental, but it’s one crisis with two faces because – the impoverishment of certain parts of society is [directly] linked to the impoverishment of the planet.” — Vincent Stanley [0:06:58]
“In business, almost everything we’re doing is still extracting from the planet rather than giving back to it as much as we’re taking.” — Vincent Stanley [0:10:05]
“[Change] takes time. There are setbacks. As a business, you have to figure out how to make money – while doing the right thing.” — Vincent Stanley [0:21:08]
“There are going to be more lessons that can be learned from companies that are really doing the work to improve their practices. It’s not easy for companies of size to – change to better practices.” — Vincent Stanley [0:32:05]
“The basic argument that business is a part of society and a part of the natural kingdom and owes something to human communities and the natural world is so important.” — Vincent Stanley [0:34:07]
“Because of the urgency of the environmental and the social crisis – we have to do our part [as businesses] along with government and civil society to address the problems we have.” — Vincent Stanley [0:38:25]
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Links Mentioned in Today’s Episode:
Vincent Stanley — https://www.vincentstanley.com/
Vincent Stanley on LinkedIn — https://www.linkedin.com/in/vincent-stanley-b1248917/
Vincent Stanley on Facebook — https://www.facebook.com/vincent.stanley.315/
The Future of the Responsible Company: What We've Learned from Patagonia's First 50 Years — https://www.patagonia.com/product/the-future-of-the-responsible-company-paperback/BK235.html?dwvar_BK235_color=000&cgid=books-stories-we-publish
Patagonia — https://www.patagonia.com/
Patagonia Provisions — https://www.patagoniaprovisions.com/
Patagonia Action Works — https://www.patagonia.com/actionworks/
Vincent Stanley: Patagonia's Director of Philosophy on the Next Economy – https://www.lifteconomy.com/blog/2017/2/19/vincent-stanley-patagonias-director-of-philosophy-on-the-next-economy
‘America Is Using Up Its Groundwater Like There’s No Tomorrow’ – https://www.nytimes.com/interactive/2023/08/28/climate/groundwater-drying-climate-change.html
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