The report is a joint effort of International Finance Corporation (IFC) and UNEP led Cool Coalition.

• Report emphasizes on Sustainable Cooling's investment needs and financing gaps and highlights opportunities for private investors. 
• Sustainable Cooling refers to the use of climate-friendly refrigerants for cooling without causing any environmental damage, including climate impact.

Why there is a need of Sustainable Cooling Solutions?

• Avoid the vicious cycle of meeting cooling demands (air conditioning) through solutions that further heat the planet. 
  • About ~66% of emissions related to cooling is from developing countries (2022) {can increase to>80% by 2050}.
• High market Potential: Sustainable cooling market is expected to cross USD 600 billion, per year by 2050.
  • Also, presents ~$8 trillion opportunity for developing economies. 
• Reducing Climate Change related Casualties: E.g. ~5 Lakhs death annually due to global warming. 
• Other: Achieving SDG Goals (E.g. SDG 13 Climate Action), etc. 

Challenges faced by Developing Countries

• Systemic Issues:-
  • Demand Side: high upfront costs, high risk, etc. 
  • Supply Side: few funding sources for small companies, supply chain issues, etc. 
• Not considered a traditional financial sector or asset class.