afaqs! news bureau

Patagonia founder Yvon Chouinard honoured with the 2023 Cannes LionHeart

He gave up his ownership in the company to a trust to ensure company profits would be used to address climate change.

Cannes Lions has announced it will honour Patagonia's founder and former owner with 2023’s Cannes LionHeart; the award is given to a person who has harnessed their position to make a significant and positive difference to the world around us.

The founder gave away his outdoor apparel company, then valued at around $3 billion, in 2022, to trust designed to keep the company’s value intact and ensure all its profits are used to combat climate change.

Philip Thomas, CEO, Ascential Futures, Chairman, LIONS, said, “Yvon Chouinard has made a tireless commitment to environmentalism through his philanthropic contributions and leadership of Patagonia. He embodies the purpose of the LionHeart Award and we are humbled to be able to offer the platform of Cannes Lions to appeal to the world’s communicators to help his cause. His work is an inspiration to us all and we look forward to honouring him in June.”

On receiving the award, Yvon Chouinard, in a release, said: 50 years ago, we started this experiment in responsible business, and today, as we look towards the next 50, we’re dead serious about addressing the environmental crisis. Every part of the Patagonia business, including the value we create, is linked to our purpose.

We have a long history of asking customers to think differently about the clothes they wear, buying only what they need and repairing when necessary. And as a company, we give away 1% of sales each year and are a certified B Corporation. But none of this is enough. That’s why we decided it’s time for a new experiment, with the announcement that Earth is now our only shareholder.

Receiving the recognition of the LionHeart award sends the message that creativity can be a powerful force in the work to save our home planet. The creative industry is uniquely placed to lead the way in ambitious business practices and to inspire people everywhere to act now.”

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