Patagonia's “Earth Tax” Prompts Businesses to Pay Back the Planet
The clothing brand presents a new method of raising money for environmental causes - an earth tax
Patagonia, the outdoorsy label with plenty of do-gooding under its belt, is starting a movement in entrepreneurship. Dubbed 1% for the Planet, the earth tax movement calls for businesses to donate 1% of their annual sales to grassroots organizations in small grant-sized chunks that work towards less environmental damage.
The clothing brand itself has already been donating 1% of its sales to worthwhile causes since 1985. At present, the total cash and in-kind grants doled out by Patagonia adds up to around $70 million. The 1% for the Planet is an invitation for others to follow suit.