A new three-part podcast documentary, The Announcement, takes an in-depth look at Patagonia’s historic decision to put environmental protection above financial gain. The series, created by Matt Barr, examines the moment in 2022 when Patagonia founder Yvon Chouinard decided to transfer ownership of the company to a mission-driven structure that prioritizes the planet.
Chouinard, a self-taught blacksmith, climber, and environmental advocate, made the unprecedented move of giving Patagonia’s voting stock to the Patagonia Purpose Trust and redirecting all excess profits to the Holdfast Collective, a non-profit organization focused on combating climate change. As part of this decision, Chouinard declared that Patagonia’s profits would no longer go to shareholders but instead be used to protect the Earth.
“Earth is our only shareholder,” the company stated. “ALL profits, in perpetuity, will go to our mission to ‘save our home planet.’” Rather than going public, Chouinard chose to make purpose the guiding force behind Patagonia’s future. By early 2024, the company had already channeled $71 million toward initiatives such as wildlife restoration, dam removal, and conservation projects.
But what exactly led to this monumental decision, and why did Patagonia face scrutiny for its bold move? Matt Barr, a UK-based journalist and founder of the Looking Sideways podcast, set out to answer these questions in The Announcement. Through extensive interviews with Chouinard, Patagonia employees, economists, sustainable finance experts, and others, Barr explores the broader implications of this shift in business philosophy.
Barr, known for his investigative approach and storytelling expertise, took on multiple roles in this independent project, acting as the writer, producer, editor, and presenter. He even composed the theme song. Reflecting on the challenges of tackling large-scale issues like capitalism and the climate crisis, Barr emphasized the importance of storytelling in helping people understand these complex topics.
Notable figures in the sustainability and business world have praised the podcast for its thorough examination of Patagonia’s decision. John Elkington, a leading authority on sustainable capitalism, called the series a “definitive work on the future of business and markets.” Surf writer Jamie Brisick also praised Barr’s storytelling, describing the series as a powerful blend of curiosity, insight, and moral conviction.
The podcast is split into three hour-long episodes—“Announcement,” “Scrutiny,” and “Legacy”—offering a comprehensive look at Patagonia’s move and its broader implications for the future of capitalism. For Barr, the series represents a quest to determine whether this decision signals the dawn of a new, more sustainable form of business or if it’s simply a company doing good within the current system.
While discussions around sustainability can sometimes be dense, The Announcement offers an engaging and important narrative. With Barr’s expertise in action sports and his passion for the subject, the series provides both entertainment and critical insights into the future of business and environmental responsibility. And, for those wondering, Barr confirms that the move was not a tax dodge, dispelling one of the key criticisms that had been raised.
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