The World Bank recently announced the creation of a new program that will accelerate the uptake of efficient cooling solutions in developing economies. The program – bluntly dubbed the Efficient, Clean Cooling Program – was established with a $3 million grant from the Kigali Cooling Efficiency Project.
The program was conceived in response to the rising demand for air conditioning in emerging economies – what the International Energy Agency’s Executive Director Dr. Fatih Birol calls one of “the most critical blind spots in today’s energy debate.” Less than a third of global households own an air conditioner today, but that will soon change with rising incomes in emerging economies.
All this points to a pressing need for increased efficiency standards in cooling products. According to Marc Sadler, Practice Manager of the World Bank’s Climate Funds Management Unit, the Efficient, Clean Cooling Program is poised to ensure that efficient cooling is included in the World Bank’s future investment projects. The program will help countries develop the necessary market infrastructure, financing mechanisms, and policies and regulations to deploy efficient cooling at scale. It will also contain an outreach and education arm that works with public and private sector partners to raise awareness around efficient, clean cooling opportunities in emerging markets.
To learn more, read the press release here: https://www.worldbank.org/en/news/press-release/2019/04/24/new-program-to-scale-up-efficient-clean-cooling-in-developing-countries