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The Year of Climate Elections

By Rochelle Toplensky

 

Today: Make-or-break climate elections; early green investment falters; taxing times for the gig economy

It isn’t just Americans that are going to the polls in 2024. It will be a blockbuster year for elections around the world, with about half of the world’s 8 billion people living in countries that will be choosing their leaders, from presidents to local officials across the nation.

Of the 15 largest countries by population, leaders will be chosen in countries including India, the U.S., Indonesia, Pakistan, Brazil, Bangladesh, Russia, Mexico and Turkey. European Union citizens will select the EU parliament and Brazil and Turkey will run nationwide local elections.

The leaders elected this year will have an outsized impact on climate action. Since policies often take months or sometimes years to affect the economy, the decisions these leaders make over their terms in office will pretty much determine if we get anywhere close to the Paris-aligned 2030 target of a 43% reduction in global greenhouse gas emissions.

 
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Climate investment trending down

Venture-capital and growth investments related to climate fell by almost a third in 2023, ending a three-year increase acccording to Sightline Climate data. That decrease echoes the trend in the wider venture-capital market.

The year's 10 largest transactions made up nearly a quarter of the total climate-themed investment and included additional funding for H2Green Steel, Northvolt, Redwood Materials, Verkor and Octopus Energy. 

 

 

Taxing times for the gig economy

British tax collectors are the latest to seek a share of the boom in secondhand fashion, forcing online marketplaces to hand over more details of customer transactions, writes Joshua Kirkby.

The crackdown is part of a wider global trend to require more reporting of so-called gig-economy income earned on digital platforms such as Vinted, Depop, Airbnb and Etsy.

$70 Billion

Projected size of the U.S. used-apparel market in 2027, up from an estimated $44 billion last year, according to ThredUp's 2023 Resale Report

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About Us

WSJ Pro Sustainable Business gives you an inside look at how companies and individuals are tackling sustainability. Send comments to Bureau Chief Rochelle Toplensky at rochelle.toplensky@wsj.com and follow her on X @RToplensky. 

 
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