Investing in a Cooler Future for All
Cooling is estimated to account for around 7% of global greenhouse emissions, more than aviation and shipping emissions combined. The demand for cooling has been constantly growing, and rising temperatures across the world due to climate change is a major contributor.
For instance, around 20% of all the electricity consumed in buildings is for space conditioning and the overall energy demand for cooling is anticipated to triple by 2050. Therefore, there is a pressing need for cooling technologies that are efficient, less harmful, and commercially viable.
Access to sustainable and efficient cooling is increasingly recognised as a key development issue, not just for its influence on global greenhouse gas emissions, but because cooling underpins a range of issues such as food security, health services, productivity and livelihoods.
To address this need, PFAN partnered with the Clean Cooling Collaborative (CCC), (formerly the Kigali Cooling Efficiency Program (K-CEP)), in 2019 to promote energy-efficient cooling in developing countries. CCC has given impetus to sustainable cooling and is focused on increasing cooling access, while also improving efficiency and phaseout of harmful refrigerant gases from cooling technologies worldwide.
The Clean Cooling Collaborative supported PFAN to explore successful applications of its model of business development support and investment facilitation to cooling entrepreneurs in developing countries. Over its two-year duration, the programme sought to increase exposure for cooling as an important development issue and to encourage cooling-related applications for support.
It has had substantial impact, including coaching and investment facilitation support for as many as 23 projects, and new private investments for four businesses totalling USD million.
Our joint report ‘’Investing in a Cooler Future for All’’ is the culmination of this partnership, looking at the cooling sector, PFAN’s support for clean cooling projects, supported projects which attracted investment, lessons learned and recommendations.
Three of the case studies in the report feature successful entrepreneurs who pitched their businesses at the PFAN Cooling Investment Forum. Please click the links to access their Project Teasers:
- Inficold India Pvt Limited (India) focuses on solar cooking for industrial applications.
- Sokofresh Agri Innovations East Africa Ltd (Kenya) integrates cold storage and market linkage activities into smallholder farmer value chains through an as-a-service proposition.
- ACI Agrolink Limited (Bangladesh) intends to develop a climate resilient sustainable shrimp value chain.
Read the full ”Investing in a Cooler Future for All” impact report here!