The UN Environment Programme (UNEP) and the International Finance Corporation (IFC) are set to unveil a joint report titled Cooler Finance: Mobilizing Investment for the Developing World’s Sustainable Cooling Needs on 25 September, coinciding with the 79th UN General Assembly.
As global temperatures reach unprecedented highs, the demand for cooling solutions is expected to soar. These solutions are crucial for protecting people from extreme heat, preserving food, maintaining vaccine efficacy, and ensuring economic productivity. By 2050, the need for cooling is projected to double electricity consumption, leading to a significant increase in greenhouse gas emissions.
The report outlines strategies for financing sustainable cooling, focusing on attracting private investment. It highlights that sustainable cooling technologies are not only accessible and affordable but also scalable and environmentally friendly. The goal is to achieve near-zero emissions cooling by 2050 through the adoption of passive cooling strategies, enhanced energy efficiency standards, and the reduction of high-polluting refrigerants.
A Technical Launch event will be held at the Energy Now – SDG7 Action Forum 2024.
Susan Shrestha
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