The billionaire founder of the outdoor fashion brand Patagonia has given away his company to a charitable trust.

Yvon Chouinard is an American rock climber, environmentalist, philanthropist and outdoor industry businessman. His company, Patagonia, is known for its environmental focus.

Chouinard is also a surfer, kayaker, and falconer and is particularly fond of tenkara fly-fishing

Yvon Chouinard said any profit not reinvested in running the business would go to fighting climate change. The label has amassed a cult following due to sustainability moves like guaranteeing its clothes for life and offering reasonably priced repairs.

Founded in 1973, Patagonia's estimated revenue was $1.5bn this year, while Mr Chouinard's net worth is thought to be $1.2bn. He claimed that profits to be donated to climate caused will amount to around $100m (£87m) a year, depending on the health of the company.

"Despite its immensity, the Earth's resources are not infinite, and it's clear we've exceeded its limits," the entrepreneur said of his decision to give up ownership. "Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source."

Patagonia is popular with wealthy environmentally conscious shoppers. Its coats, which cost around £200 have been seen on Prince William and Harry.

He said he had initially considered selling Patagonia and donating the money to charity, or taking the company public. But he said both options would have meant giving up control of the business.

"Even public companies with good intentions are under too much pressure to create short-term gain at the expense of long-term vitality and responsibility," he said.