IFC, a member of the World Bank Group, and Indian Hotels Company (IHCL), South Asia’s largest hospitality company, today launched an open call for innovators worldwide to bring efficient, climate-smart, cost-effective cooling solutions to India’s hospitality sector.
The TechEmerge Sustainable Cooling Innovation Program in the Indian hospitality sector has been funded by the UK Government.
It offers innovators market access and a combined pool of up to $500,000 in grant funding to pilot new solutions, including home-grown Indian solutions that reduce the high energy usage and climate impacts of cooling systems.
“IHCL is committed to creating a positive impact on the environment. The company’s annual renewable energy consumption has increased considerably, with many of our key hotels powered by wind and solar energy sources,” said Gaurav Pokhariyal, Senior Vice President & Global Head Human Resources, IHCL. “Our sustainable cooling partnership with IFC is a win-win move that enables us to reduce operating costs, limit our greenhouse gas emissions and help shape hospitality to meet the needs of tomorrow.”
Cooling currently accounts for about 10 per cent of greenhouse gases and 15 per cent of energy consumption worldwide. In a business-as-usual scenario, energy used for cooling is expected to triple by 2050 globally, while demand could increase five-fold in hot tropical countries like India.
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