Global Space Cooling

Sustainable cooling for green buildings is needed to address two sides of the climate problem: adapting to extreme heat and managing cooling energy demand. According to IFC and UNEP’s Cooler Finance Report, space cooling is a large and growing business opportunity, representing over half of the projected cooling market, and set to grow to $332 billion a year by 2050. This includes all types of buildings, including residential, commercial, institutional (hospitals, education, religious), industrial (warehousing and light manufacturing), and transportation (ports and airports).

IFC is helping companies with real estate portfolios incorporate sustainable cooling into their decarbonization and resilience strategies. IFC’s GRIP program (Greening Real Estate Investment Portfolios) is a comprehensive advisory and investment package that blends IFC’s unique real estate decarbonization expertise with the latest climate finance products. GRIP enables companies to prepare for regulatory and market shifts, build better tenant and investor relations, and improve portfolio and building-level data.

IFC is seeking companies that can provide both passive cooling and more efficient energy and water technology solutions, including new business models like district cooling and cooling-as-a-service. Through our Sustainable Cooling Initiative, we will bring together technology innovators worldwide and leading local companies to test innovative climate-smart technologies and solutions. The call for innovators will be implemented on a rolling basis as our network of adopters (see the following tab) expands through IFC’s ongoing client-focused efforts.

IFC is seeking companies that can provide both passive cooling and more efficient energy and water technology solutions, including new business models like district cooling and cooling-as-a-service. Through our Sustainable Cooling Initiative, we will bring together technology innovators worldwide and leading local companies to test innovative climate-smart technologies and solutions. The call for innovators will be implemented on a rolling basis as our network of adopters (see the following tab) expands through IFC’s ongoing client-focused efforts.

Brookfield India REIT is an institutionally managed public commercial real estate trust in India that owns a portfolio of office assets in major Indian cities. Brookfield REIT has a significant portfolio of over 25 million square feet of leasable area across five key locations. Through IFC’s investment, the client has committed to reaching EDGE Advanced certification for its financed properties (at least 40% energy efficiency over the local baseline) and analyzing impacts on its cooling load from the rising heat in India.

Signature Global is an Indian real estate development company focusing on the residential market. IFC’s technical advice and finance will enable it to implement sustainability into its housing developments, ensuring future dwellings are climate resistant to extreme heat in India.

FIBRA Prime is Peru’s first and largest Real Estate Investment Trust (REIT), structured to acquire, develop, and manage real estate for leasing to generate recurring income. It has a diverse portfolio of logistics, commercial, and office properties, with a strong emphasis on high corporate governance standards and sustainability.

CPN REIT is a real estate investment trust in Thailand that invests primarily in the leasehold rights of retail properties such as shopping malls, office buildings, and hospitality. IFC’s advice and financing will help the company achieve green certification for its retail properties, and help them investigate cooling options such as district cooling and cooling-as-a-service.