Reinvesting in Triple Bottom Line
Introducing Phil Graves, Patagonia, and $20 Million & Change
For over four decades, Patagonia has been a leader in high-end outdoor wear. The worldwide clothing brand not only makes clothes to wear outside, but also is known for its commitment to the environment. Since 1993 it has been making its fleece from recycled beverage bottles and it has used organic cotton since 1996. This commitment to a triple bottom line was further continued when Patagonia became a B corp in 2011. Patagonia has now continued to double-down on its commitment to planet, people, and profit by creating its own venture capital firm $20 Million and Change, which invests in environmentally and socially responsible start-ups.
Phil Graves heads corporate development at Patagonia and oversees $20 Million & Change. Phil came from the corporate consulting world, but was looking for a change. His first choice was to work for Patagonia and as luck would have it this was right near the initiation of $20 Million & Change. For Phil, one of the most rewarding aspects of working for Patagonia is the opportunity to demonstrate that business can be an engine for positive change. Check out this episode of the Boiling Point to be inspired by a great company and learn how your start-up could be their next investment.
In this episode
- Greg tells us how Patagonia has inspired Hemmings House by their corporate vision and their amazing film work.
- Phil tells us the inspiration behind $20 Million & Change and how it further propels Patagonia’s vision.
- He tells us the type of business and entrepreneur that Patagonia likes to invest in.
- We hear about a few success stories that were funded by $20 Million & Change and what they specifically do to affect a triple bottom line.
- Phil tells us how Patagonia fulfills its mission statement to build the best product, cause no unnecessary harm, use business to inspire, and to implement solutions to the environmental crisis.
- We hear how becoming a B corp was the right fit for Patagonia, and not just a marketing ploy.
- Phil tells us how to get onto Patagonia’s investment radar.
- There is a discussion on what is next for B corps in general, and how we might expect to see more publicly traded B corps in the future.
- Greg is inspired by Patagonia’s notion of reinvesting in themselves and others.
- He also recalls a buying choice that ended with him picking up a Patagonia hat.
- Dave loves to hear the perspective of someone who came out of the corporate consulting world and going to a triple bottom line company.
- Dave also recalls his experience working in the government and how he sees business as potentially a better force for positive change.