118 countries and the European Union have endorsed the Global Pledge on Renewables and Energy Efficiency at the World Climate Action Summit in Dubai.
This initiative sets global targets to triple the installed capacity of renewable energy to at least 11 terawatts (TW) and to double the rate of global energy efficiency improvements from roughly 2 percent to an annual figure of 4 percent, by 2030. Achieving these targets will support the transition to a decarbonised energy system, and help to phase out unabated fossil fuels.
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Political News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.