GLASGOW, SCOTLAND – NOVEMBER 01: Indian Prime Minister Narendra Modi presents his national statement on day two of COP26 at SECC on November 1, 2021 in Glasgow, United Kingdom. 2021 sees the 26th United Nations Climate Change Conference.
Pool | Getty Images News | Getty Images
LONDON — Some of the world’s largest polluters were under the spotlight at the COP26 summit Monday, as countries outlined their commitments on climate change.
India’s prime minister, Narendra Modi, pledged to reach net-zero carbon emissions by 2070, a date two decades beyond the target set by COP26 organizers and host Boris Johnson, the U.K.’s prime minister.
Modi said the country had five climate-related pledges, including meeting 50% of its energy needs by renewable means by 2030.
“By 2070, India will achieve the target of net zero emissions,” he added, during a speech delivered Monday. The country is the world’s third-largest carbon emitter.
India represents 17% of the world’s population and 5% of the carbon emissions, Modi said, adding that it had “delivered both in letter and in spirit on its Paris commitments,” referring to the 2015 Paris Agreement where nations made the 1.5 degrees Celsius pledge. But to do so, the world needs to almost halve greenhouse gas emissions in the next eight years and reach net-zero emissions by 2050.
The COP26 summit, delayed a year by the coronavirus pandemic, comes six years after the landmark Paris accord was signed by nearly 200 countries to limit rising global temperatures to 2 degrees Celsius above pre-industrial levels and to “pursue efforts” to cap heating to 1.5 degrees Celsius.
The latter threshold is a crucial global target because beyond this level, so-called tipping points become more likely. Tipping points refer to an irreversible change in the climate system, locking in further global heating.
Modi also said India would reduce the carbon intensity of its economy by 45%.
Meanwhile, China’s president, Xi Jinping, called for countries to take “stronger actions” on climate change in a written statement released Monday during the summit.
“I hope all parties will take stronger actions to jointly tackle the climate challenge and protect the planet, the shared home for us all,” he said, according to China’s state media agency Xinhua, which published the statement.
Xi, who is not attending COP26 in person, also called for developed countries to help developing nations do more. Onlookers noted that the statement failed to make any new commitments on climate change. China’s target for net zero is also well beyond the 2050 target.
The Chinese leader’s statement follows strong criticism from U.S. President Joe Biden at the G-20 meeting of the world’s largest economies on the weekend. At a news conference, Biden blasted China and Russia, saying the countries “basically didn’t show up in terms of any commitments to deal with climate change.” Along with Xi, Russian President Vladimir Putin is not going to COP26 in person.
Xi’s statement also follows calls from the White House on Monday for China to do more to tackle climate change. “We are filling our end of the bargain at COP. The fact that China isn’t is not something that they can readily point to us,” U.S. national security advisor Jake Sullivan told reporters, according to a Reuters report. The U.S. is the second-largest emitter of carbon.
“They are a big country, with a lot of resources and a lot of capabilities, and they are perfectly well capable of living up to their responsibilities and it is up to them to do so,” Sullivan added.
Xi’s statement at COP26 also said China would “vigorously” develop renewable energy and build wind and solar power stations.
The statement added that China would “rein in the irrational development of energy-intensive and high-emissions projects,” and that the country will roll out plans for sectors including coal, energy, construction and transport, but did not say when it would do so.
China is the world’s largest emitter of carbon, exceeding the greenhouse gasemissions of the U.S. and the developed world combined. Xi has previously said the country would “strictly control coal-fired generation projects,” however China is increasing construction of coal-fired plants. The state-owned Bank of China has been heavily criticized for its role in financing overseas coal projects, with its funding reaching $35 billion since 2015.
The country is currently in the middle of an energy crisis, with power cuts across China likely to “substantially increase” its coal imports in the short term. Experts said it is a “balancing act” to keep the lights on while demonstrating a commitment to emissions reductions.
— CNBC’s Emma Newburger, Sam Meredith and Yen Nee Lee contributed to this report.
Paris’ bike-share system, Vélib has long been considered one of the shining success stories of urban micromobility. With a massive fleet of over 20,000 pedal and electric-assist bicycles around Paris, the service has helped millions of residents and tourists get around the City of Light without needing a car or scooter. But lately, a growing problem is threatening to knock the wheels off this urban mobility marvel: theft and joyriding.
According to city officials and the service operator, more than 600 Vélib bikes are now going missing every single week. That’s over 30 bikes a day simply vanishing from the system – some stolen outright, others taken on “joy rides” and never returned.
“At the moment we’re missing 3,000 bikes,” explained Sylvain Raifaud, head of the Agemob company that currently operates the Velib system. That’s nearly 15% of over 20,000 Vélib bikes across Paris.
The sticky-fingered culprits aren’t necessarily professional thieves or organized crime rings. Instead, they’re often regular users who treat the shared bikes like disposable toys.
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The city estimates that many people have figured out how to pry the bikes out of the system’s parking docks, unlocking one for a casual cruise and then ditching it somewhere far from a docking station.
Once pried free, the bikes are technically usable for the next 24 hours until their automatic locking feature kicks in. At that point, the bikes are often simply abandoned. Some end up in alleyways. Others get tossed in rivers. A few just disappear completely.
And since the bikes are intended to be parked at their many docking stations around the city, they don’t have GPS chips, further complicating recovery of “liberated” bikes.
The issue started small but has grown into more than an inconvenience – it’s beginning to undermine the entire purpose of the service. With bikes going missing at such a high rate, many Vélib docking stations are left empty, especially during rush hours.
Riders looking for a quick commute or a convenient hop across town are increasingly finding themselves without available bikes, or having to walk long distances to find a functioning one.
That kind of unreliability chips away at user confidence and threatens to drive potential riders back into cars, cabs, or other less sustainable forms of transport at a time when Paris has already made great strides to dramatically reduce car usage in the city.
The losses are financially painful, too. Replacing stolen or vandalized bikes isn’t cheap, and the resources spent on tracking down missing equipment or reinforcing anti-theft measures are stretching thin. Vélib has faced theft and vandalism issues before, especially during its early years, but this latest surge has officials sounding the alarm with renewed urgency.
Officials acknowledge that there’s no easy fix. Paris, like many cities with bike-share systems, walks a fine line between accessibility and accountability. Part of what makes Vélib so successful is its ease of use and widespread availability. But those same features make it vulnerable to misuse – especially when enforcement is limited and the consequences for abuse are minimal.
The timing of the problem is especially unfortunate. In recent years, Paris has seen impressive results in reducing car traffic, expanding bike lanes, and promoting cycling as a key part of its sustainable transport strategy. Vélib is a cornerstone of that plan. But if the system becomes too unreliable, it risks losing the very people it was designed to serve.
Meanwhile, as Parisians increasingly find themselves staring at empty docks, the challenge for the city and Vélib will be to restore confidence in the system without making it harder to use. That means striking the right balance between freedom and responsibility, between open access and protection against abuse.
In a city where cycling is supposed to be the future of mobility, losing thousands of bikes to joyriders and sticky fingers isn’t just frustrating; it’s unsustainable.
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U.S. President Donald Trump and Elon Musk attend a press event in the Oval Office of the White House in Washington, D.C., U.S., May 30, 2025.
Nathan Howard | Reuters
When they lose a significant other, most men do indeed become a “TRAIN WRECK.” Then they pick up the pieces of their lives and start living again — paying attention to their personal grooming, hitting the gym and discovering new hobbies.
What does the world’s richest man do? He starts a political party.
Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”
Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.
It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.
To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.
Folks, here’s direct democracy — and the powerful post-separation motivation — in action.
— CNBC’s Erin Doherty contributed to this report.
What you need to know today
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An investor sits in front of a board showing stock information at a brokerage office in Beijing, China.
US President Donald Trump, right, and Elon Musk, chief executive officer of Tesla Inc., during a news conference in the Oval Office of the White House in Washington, DC, US, on Friday, May 30, 2025.
Francis Chung | Bloomberg | Getty Images
When they find themselves without a significant other, most men finally start living: They pay attention to their personal grooming, hit the gym and discover new hobbies.
What does the world’s richest man do? He starts a political party.
Last weekend, as the United States celebrated its independence from the British in 1776, Elon Musk enshrined his sovereignty from U.S. President Donald Trump by establishing the creatively named “American Party.”
Few details have been revealed, but Musk said the party will focus on “just 2 or 3 Senate seats and 8 to 10 House districts,” and will have legislative discussions “with both parties” — referring to the U.S. Democratic and Republican Parties.
It might be easier to realize Musk’s dream of colonizing Mars than to bridge the political aisle in the U.S. government today.
To be fair, some thought appeared to be behind the move. Musk decided to form the party after holding a poll on X in which 65.4% of respondents voted in favor.
Folks, here’s direct democracy — and the powerful post-separation motivation — in action.
[PRO] Wall Street is growing cautious on European equities. As investors seek shelter from tumult in U.S., the Stoxx 600 index has risen 6.6% year to date. Analysts, however, think the foundations of that growth could be shaky.
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Ayrton Senna driving the Marlboro McLaren during the Belgian Grand Prix in 1992.
Pascal Rondeau | Hulton Archive | Getty Images
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CEOs today aren’t just steering companies — they’re navigating a minefield. From geopolitical shocks and economic volatility to rapid shifts in tech and consumer behavior, the playbook for leadership is being rewritten in real time.
In an exclusive interview with CNBC earlier this week, McLaren Racing CEO Zak Brown outlined a leadership approach centered on urgency, momentum and learning from failure.