2023 Annual Performance Report for FP177: Cooling Facility

Cooling Facility

Gender assessment for FP177: Cooling Facility

Gender action plan for FP177: Cooling Facility

2024 Annual Performance Report for FP177: Cooling Facility

Project Approved

Project Completed

Under Implementation

As global temperatures increase and the demand for cooling rises, so do the emission levels of greenhouse and fluorinated gases, which have a very high global warming potential.  Reports cite that at 1.5°C of warming – a threshold that could be reached by 2030 - 2.3 billion people could be vulnerable to illness and death from heatwave events (Intergovernmental Panel on Climate Change, 2019) and productivity loss could be the equivalent of 80 million full-time jobs (International Labor Organization, 2019). Therefore low-carbon and sustainable cooling solutions are essential.

The Cooling Facility will be one of the world’s first cooling-focused facilities with the aim to provide cooling solutions in nine countries.  It will focus on regulation and policy, technical assistance and financing to address and help remove barriers to the development of sustainable cooling investments.  Planned measures include financing for investments in innovative, climate-friendly cooling technologies and systems, and creating an enabling environment by strengthening institutional, policy and regulatory frameworks and building capacity of key stakeholders in technologies, business models and cooling project appraisal and implementation.

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An aim to achieve a quantifiable outcome within a given time-frame, set by an institution such as a national government.

Policy instruments are techniques or tools used by governing authorities to promote certain policies in order to achieve predetermined goals. Put simply, instruments are how a government tries to achieve its goals, with this taxonomy being focused on national policy instruments.

Risk is the potential for adverse consequences resulting from the dynamic interplay between (climate-related) hazards, exposure, and vulnerability of affected human or ecological systems.

Groups  of people who are adversely affected by climate change or the response to it

A set of principles, processes, and practices that build economic and political power to shift from an extractive economy to a regenerative economy.

Renewable energy means all forms of energy produced from renewable sources in a sustainable manner.

Fossil fuel is a generic term for non-renewable energy sources such as coal, fossil gas, and oil (including crude oil, and petroleum products), that can be used for electricity and heat generation. Fossil fuels are hydrocarbons formed from pressurised and heated organic material buried over millions of years.

Molecules in the atmosphere that play a key role in the greenhouse effect by trapping heat radiating from Earth’s surface.

Area of the economy in which actors engage in identical or related activities.

In human systems, the process of adjustment to actual or expected climate change and its effects, in order to moderate harm, increase resilience or exploit beneficial opportunities. In natural systems, the process of adjustment to actual climate change and its effects; human intervention may facilitate adjustment to expected climate change and its effects.

The management and allocation of funds, assets and investments to meet various objectives

A long-lived, colourless gas, chiefly emitted from fossil fuel combustion, deforestation and cement production.

Social and cultural groups that share collective ancestral ties to the lands and natural resources where they live, occupy or from which they have been displaced

Activities that involve the cultivation of crops and raising of livestock for food, fibre, and other products essential for human life and industry.

People with different national or cultural traditions from the dominant population

Either money or something of monetary value is transferred between two or more organisations, people or countries.

Activities that involve planning, designing and building infrastructure, residential, and commercial structures.

This sector includes firms and individuals offering specialised expertise in fields such as law, accounting, consulting, science and engineering.

Financial actors and resources that are primarily directed towards climate change mitigation, adaptation and compensation.

Activities involving the catching, processing, and selling of fish for food, recreation, and industry.

Dedicated pool of financial resources for climate-related projects.

This sector provides medical services, manufactures medical equipment, and develops pharmaceuticals to maintain and improve health.

Activities of businesses and institutions that provide financial services and products to individuals and organisations.

A loan is a policy instrument where funds are provided to a borrower with the expectation of repaying the principal plus interest.

Activities that provide lodging, food, and entertainment services to guests, including hotels, restaurants, and resorts.

woman and genders outside of the gender binary

Actions and measures to adapt and increase resilience of societies and the economy to climate change.

The release of heat-trapping gases, primarily from human activities such as burning fossil fuels, agriculture and industry.

Activities of government agencies and institutions that provide public services, enforce laws and manage public resources.

Social inclusion is the process of improving the terms on which individuals and groups take part in society—improving the ability, opportunity, and dignity of those disadvantaged on the basis of their identity.

2023 Annual Performance Report for FP177: Cooling Facility

Policy instrument

Impacted group

Just transition

Greenhouse gas

Economic sector

Adaptation/resilience

Finance