Capitalism, at its core, can only succeed with a constant stream of consumers. The parameters of competition and a free market have business owners and corporations fighting tooth and nail for a second of your attention. You see it everywhere you look; American society is constantly bombarded with advertisements grasping desperately for your time and money. Often we’re taught to feel that these products will be the missing key to living a happy and fulfilled life. Although, where does sustainability fit in this circular system of perpetual overconsumption? Is it possible to be a consumer in a capitalist society while upholding sustainable values?
On September 14, 2022, Patagonia decided to give up ownership of their company and put all of their profits towards fighting the climate crisis and protecting wildlife and biodiversity. This type of business model is rarely seen in the United States. Some European companies have been using similar models for years now, but Patagonia is one of the first to make US headlines. Patagonia refers to this process as “going purpose”, as opposed to “going public”. “Going purpose” allows for the company to put their money towards the missions they believe in instead of going public which usually just results in a raised capital and an influx of money for the owners and the business itself. Patagonia has different concerns, when they transferred ownership of the company, they wanted to ensure that as little as possible would change within staffing and procedures. The founder of the company Yvon Chouinard wrote on their website:
“While we’re doing our best to address the environmental crisis, it’s not enough. We needed to find a way to put more money into fighting the crisis while keeping the company’s values intact. One option was to sell Patagonia and donate all the money. But we couldn’t be sure a new owner would maintain our values or keep our team of people around the world employed.”
Patagonia’s B-corp status has made them a leader within the sustainability movement far before it made this decision. A B-corp certification ensures that businesses are being held accountable for their claims of sustainability and help prevent greenwashing. Some of these requirements include transparency of ethical working conditions as well as sustainable sourcing and practices. Patagonia was certified as a B-corp in 2011, five years after the B-Corp movement started. Since the beginning, Patagonia has had a different interpretation of what a for-profit, competitive company can look like. This idea of reimagining capitalism is exactly what the future of sustainability will need if we are to keep producing at the rate that we are now.
Patagonia decided to shift the power of profit from a smaller group of people to a larger charity-based fund creating a standard for other companies to emulate. However, their security of success and profit over the years makes this decision much easier than it would be for a smaller start-up company or an aspiring entrepreneur. The question we must ask ourselves is in a society that is fueled by greed and the constant need for growth, what are we willing to sacrifice for this growth?
Consumerism and planned obsolescence are staples of the capitalistic society, and it is doubtful that the economic system that has been forced upon us will ever be able to obtain true sustainability. Yet still, our job as informed consumers is to put our power of the fiscal dollar into companies that recognize this broken system and work to change it.
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