IFC Financial Institutions’ Post

🌡 Soaring temperatures worldwide contribute to nearly half a million heat-related deaths and a $2.0 trillion GDP productivity loss per year. #CoolerFinance, a new joint report by IFC and UN Environment Programme, says scaling up sustainable cooling can help developing economies avoid spending $8 trillion through lower electric bills and reduced equipment and infrastructure investments. Key findings:   📈 Demand for cooling is expected to double in developing economies by 2050 due to population growth, economic expansion, and urbanization. 🌍 In developing economies, sustainable cooling solutions can slash cooling-related emissions by almost 50% by 2050.   💵 The cooling market in developing economies is expected to double to at least $600 billion by 2050, with numerous opportunities for private investment across space cooling, refrigeration, cold chains, and transport.   💰 Mobilizing private capital will be key to financing #sustainablecooling solutions. 🤝 Governments, private businesses, and multilateral banks can use this report to harness a wide range of financial instruments for sustainable cooling and resilience to extreme heat Learn more: http://wrld.bg/UVm250TvHE7 #SustainableCooling #ClimateAction #GlobalCoolingPledge #UNGA