Crypto News: Thrifty shoppers are helping the planet

Today's newsletter looks at why shopping for secondhand clothing is on the rise and the benefits for the climate. You can read and share a full version of this story on Bloomberg.com. For unlimited access to climate and energy news, please subscribe.

A climate bargain

By Zahra Hirji

Shoppers around the world are quickly adding more used shoes, accessories and clothes to their closets. Last year, they spent $227 billion on secondhand apparel, accounting for nearly 10% of all global spending on clothes, according to a new report from online resale marketplace ThredUp Inc.

The trend is set to accelerate, particularly in the US where President Donald Trump's tariffs are likely to increase the price of new clothes, and globally thanks to changing consumer attitudes on used items.

The benefits of buying and selling used items for the planet are clear: Secondhand avoids the greenhouse emissions generated by producing and transporting new clothes. Similarly, selling used clothes rather than trashing them is environmentally friendly.

Thredup is using AI tools that allow users to upload a picture of a shoe or jacket they want and sort through the site to find similar items. Photographer: Tiffany Hagler-Geard/Bloomberg

The marketplace for secondhand has moved beyond donation and vintage shops, with a growing online ecosystem for buying used, including eBay, ThredUp, Poshmark and other sites where customers can directly sell and purchase items.

More brands are also setting up their own online resale offerings, either independently or by outsourcing to companies that provide resale services, including Archive and Trove. Outdoor apparel maker Patagonia Inc and sneaker seller AllBirds Inc are among those that use Trove's services.

Global secondhand fashion sales, which rose 15% in 2024 from the previous year, are projected to surpass $250 billion in 2025 and then exceed $300 billion in 2027, according to the report published this week, based on ThredUp data and research from the third-party retail analytics firm GlobalData.

While affordability is a big reason for the uptick, consumers are no longer stuck on the idea that new is better. Historically, there was a stigma around secondhand shopping, says Samina Virk, US chief executive officer for the high-end online resale marketplace Vestiaire Collective, but "it's now become the norm."

Also read:

The carbon footprint of transporting that Zara outfit you're looking to buy has just gone up. Find out why the transport-related emissions of Inditex SA, the Spanish owner of the apparel chain, increased 10% last year.
Giving someone a used item as a present is no longer taboo. In search of uniqueness and affordable quality, shoppers are increasingly open to buying and receiving secondhand gifts.
The US throws away around 2,150 pieces of apparel each second — adding to a global environmental crisis. Check out this story, which helps you visualize the problem as a pile of clothes grows on your screen.

Photographer: Victor J. Blue/Bloomberg

This week we learned

Private infrastructure investors are snatching up green bargains. It's a buyer's market for wind, solar and battery projects after US President Donald Trump's call for more fossil-fuel power generation sent a chill through the clean energy sector.
BlackRock is campaigning to win over the GOP. Even before Trump's return to the White House, BlackRock has been trying to ease relations with Republican politicians across the US after being pilloried for years for talking up ESG investing.
Colombia has been turning down debt-for-nature deals. Despite the country's scramble to finance a major green overhaul of its economy, Colombia has been rejecting offers to do a debt-for-nature swap over fears such a deal could impact its sovereign credit rating.
Dominica's tourism plan is raising alarms with environmentalists. The island is planning to add another airport and a yacht marina to make it more accessible to tourists, while also approving new big-box resorts, as it seeks to promote its volcanoes, beaches and other natural wonders.
Whales have a lot to say about climate change. A new study found that whales vocalized less after a marine heat wave decimated their prey. The research suggests whale sounds could be a new metric for understanding biodiversity and ocean health.

Photographer: Mario Tama/Getty Images

Worth your time

A North Dakota jury this week found Greenpeace liable for defamation, conspiracy and other claims over its participation in the Dakota Access pipeline protests that lasted from 2016 to 2017, awarding developer Energy Transfer LP $660 million in damages. Legal experts warn the decision could significantly deter other environmental groups from protesting oil and gas companies and their infrastructure around the US. Energy Transfer's legal win also shows that challenging protest groups in court can be successful — and it may inspire other companies to follow suit. Read more about the "chilling effect" this is having on climate activists.

Demonstrators hold signs protesting construction of the Dakota Access pipeline in February 2017. Photographer: Andrew Harrer/Bloomberg

Weekend listening

Water scarcity is no longer a distant threat: By 2030, fresh water demand is expected to outpace supply by 40%. The effects of water stress will be felt in industries from agriculture to e-commerce, putting up to $70 trillion of global GDP at risk, according to the World Resources Institute. Bloomberg Intelligence researcher Melanie Rua, the co-author of a new report on water scarcity, joins Zero to discuss just how much financial impact companies are already seeing as a result of this issue — and what measures they might take to mitigate it.

Listen now, and subscribe on Apple, Spotify, or YouTube to get new episodes of Zero every Thursday.