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NEW DELHI: Rising average temperature due to climate change will increase the demand for cooling in India by eight times more than current levels by 2037 leading to demand for a new air-conditioner every 15 seconds, according to a report released by the World Bank.
With an expected rise of 435% in annual greenhouse gas (GHG) emissions over the next two decades, keeping spaces cool using alternative and innovative energy efficient green technologies can open up an investment opportunity worth $1.6 trillion by 2040, says the report.
Referring to different scientific studies, the report flagged that over 160-200 million people across the country could be exposed to lethal heat waves annually by 2030 and around 34 million people in India will face job losses due to heat stress related productivity decline. It said the current food loss due to heat during transportation is close to $13 billion annually.
Shifting to a more energy efficient pathway could lead to a substantial reduction in expected CO2 levels over the next two decades, and can create nearly 3.7 million jobs.
“India’s cooling strategy can help save lives and livelihoods, reduce carbon emissions and simultaneously position India as a global hub for green cooling manufacturing. The report suggests a sustainable roadmap for cooling that has the potential to reduce 300 million tonnes of carbon dioxide annually by 2040,” said Auguste Tano Kouame, the World Bank’s country director in India.
Though the country is already deploying new strategies to help people adapt to rising temperatures as per India Cooling Action Plan (ICAP), the World Bank report proposes a roadmap to support the plan’s new investments in three major sectors: building construction, cold chains, and refrigerants.
The ICAP, launched in 2019, suggests sustainable cooling measures across various sectors, including indoor cooling in buildings and cold chain and refrigeration in the agriculture and pharmaceuticals sector and air-conditioning in passenger transport. Its aim is to reduce the demand for cooling by up to 25% by 2037-38 while pursuing its goals to phase out the production and use of ozone-depleting hydrochlorofluorocarbons (HFC), used as coolants in air conditioners and refrigerators, by 2047.
With an expected rise of 435% in annual greenhouse gas (GHG) emissions over the next two decades, keeping spaces cool using alternative and innovative energy efficient green technologies can open up an investment opportunity worth $1.6 trillion by 2040, says the report.
Referring to different scientific studies, the report flagged that over 160-200 million people across the country could be exposed to lethal heat waves annually by 2030 and around 34 million people in India will face job losses due to heat stress related productivity decline. It said the current food loss due to heat during transportation is close to $13 billion annually.
Shifting to a more energy efficient pathway could lead to a substantial reduction in expected CO2 levels over the next two decades, and can create nearly 3.7 million jobs.
“India’s cooling strategy can help save lives and livelihoods, reduce carbon emissions and simultaneously position India as a global hub for green cooling manufacturing. The report suggests a sustainable roadmap for cooling that has the potential to reduce 300 million tonnes of carbon dioxide annually by 2040,” said Auguste Tano Kouame, the World Bank’s country director in India.
Though the country is already deploying new strategies to help people adapt to rising temperatures as per India Cooling Action Plan (ICAP), the World Bank report proposes a roadmap to support the plan’s new investments in three major sectors: building construction, cold chains, and refrigerants.
The ICAP, launched in 2019, suggests sustainable cooling measures across various sectors, including indoor cooling in buildings and cold chain and refrigeration in the agriculture and pharmaceuticals sector and air-conditioning in passenger transport. Its aim is to reduce the demand for cooling by up to 25% by 2037-38 while pursuing its goals to phase out the production and use of ozone-depleting hydrochlorofluorocarbons (HFC), used as coolants in air conditioners and refrigerators, by 2047.
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