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Breaking down Patagonia’s bold move

Patagonia’s recent announcement that the Earth would become its only shareholder sent shockwaves through the global business community. It was the ultimate throw down to Milton Friedman’s long-standing edict that the sole responsibility of a business is to deliver profit to shareholders. The move is not only the most high-profile example of a major for-profit organisation embracing stakeholder capitalism — the idea that companies must deliver value to a broader group of stakeholders, i