Registration: Register for the Energy Now SDG7 Action Forum
Date/Time: Wednesday, September 25, 3:15pm – 4.45pm
Duration: 90 minutes
Location: 211 East 46th St, New York NY
Organizers : IFC, UNEP
Description
Billions of people around the world are experiencing severe heatwaves driven largely by a fossil-fuel charged, human-induced climate crisis. 2.4 billion people – are now at high risk of extreme heat with the most vulnerable communities in the frontline.
As highlighted by the UN Secretary General, we must respond by massively increasing access to low-carbon cooling; expanding passive cooling – such as natural solutions and urban design; and cleaning up cooling technologies while boosting their efficiency. The United Nations Environment Programme estimates that, together, these measures could protect 3.5 billion people by 2050, while slashing emissions and saving consumers $1 trillion a year.
Sustainable cooling is therefore critical for the economic development and global climate agenda. Increasing access to sustainable cooling, will mean increasing finance dedicated to cooling.
This event will mark the launch of the report “Cooler Finance: How to Fund the Developing World’s Growing Cooling Needs” which supports the operationalization of the Global Cooling Pledge launch at COP28. The report aims to support different stakeholders – including entrepreneurs, investors, businesses providing and using cooling solutions, as well as policy makers and private, public, and international financiers – in identifying the potential business opportunities that sustainable cooling offers, and design and implement business models and financing mechanisms to realize these.
By providing an overview of the elements underlying the market potential and business case for cooling consumer firms and households to adopt the transition to sustainable solutions, and for financiers to better analyze the growth potential and risks it entails, the report contributes to closing understanding and awareness gaps.
