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World Bank tackles cooling solutions in developing countries

first_imgThrough the programme, the World Bank will mobilise its expertiseacross sectors such as transport, energy, agriculture and urban, as well aswith the International Finance Corporation (IFC) to lay the groundwork for apipeline of new projects that could be supported by the World Bank Group orother sources of financing. TAGSHVACWorld Bank Previous articleAECF launches $20m solar fund for West AfricaNext articleGE school infrastructure upgrade promotes a safer environment ESI Africa RELATED ARTICLESMORE FROM AUTHOR Featured image: Stock Led by the World Bank’s Energy Sector Management AssistanceProgramme (ESMAP) and the World Bank’s Climate Change Group, the new Efficient,Clean Cooling Programme is being established thanks to a $3 million grant toESMAP from the Kigali Cooling Efficiency Programme (K-CEP), a philanthropicprogramme established to help countries increase the energy efficiency ofcooling. Rohit Khanna, the manager of the energy sector managementassistance programme at the World Bank, commented: “Sustainable cooling is afundamental part of the energy transition. Meeting the growing demand forcooling services without compromising climate change goals will requiresubstantial investments in energy efficient cooling solutions that areaffordable and accessible to developing countries. This is exactly what the newprogram is set to do and as such, it will underpin the World Bank’s longer-termstrategy on sustainable cooling.” AFD and Eskom commit to a competitive electricity sector Already today, more than 1 billion people lack access tosustainable cooling solutions with the potential to impact health, foodsecurity, productivity and growth. Also by 2050, estimates show that demand for cooling incountries in the tropics and subtropics such as India, China, Brazil, andIndonesia will grow fivefold, which will put pressure on already strainedenergy systems and hamper efforts to curb climate change. “Efficient, clean cooling can contribute significantly to astable climate and cut energy costs at the same time. However, financing isneeded to cover the capital costs of cooling technology, especially indeveloping countries. That is why K-CEP is excited to partner with the WorldBank to mobilise the investments required to make cooling for all a reality,”said Dan Hamza-Goodacre, K-CEP Executive Director. Low carbon, solar future could increase jobs in the future – SAPVIA The lack of cold storage and refrigerated transport contributes to 1.5 million vaccine-preventable deaths and the waste of about a third of the total food produced annually. By 2050, work hours lost due to excessive heat could result in 6% of lost GDP annually in the worst affected regions of South Asia and West Africa. BRICS Finance and Policycenter_img Mobilising expertise to address climate change Another area of focus will be working with public andprivate sector partners to raise awareness around efficient, clean coolingopportunities in emerging markets. The World Bank’s cooling programme will help countriesdevelop the necessary market infrastructure, financing mechanisms, and policiesand regulations to deploy sustainable cooling at scale, focusing on airconditioning, refrigeration and cold chain, cool surfaces such as reflectiveroofs, walls and pavements, and mitigation of urban heat island effects. These efforts will be complemented by the development of aseries of technical studies and knowledge exchanges. The World Bank announced a new programme this week to accelerate the uptake of sustainable cooling solutions, including air conditioning, refrigeration and cold chain in developing countries. The programme will provide technical assistance to ensurethat efficient cooling is included in new World Bank Group investment projectsand mobilise further financing. Marc Sadler, practice manager of the World Bank’s Climate FundsManagement Unit, commented: “A sustainable approach to cooling is central toaddressing climate change for both adaptation and mitigation. This programme isa way to accelerate collaborative solutions and raise finance to meet thedemand for cooling through the World Bank Group’s country engagements, lendingand investments.” UNDP China, CCIEE launch report to facilitate low-carbon development Globally, demand for cooling is increasing, mainly driven bygrowing populations, urbanisation and rising income levels in developingcountries. Further exacerbating the issue, rising temperatures will increasedemand for cooling appliances, which not only use large amounts of energy, butalso leak refrigerants that contribute to global warming. Generation By 2050, energy use for cooling is projected to triplelast_img read more