Union Minister for Environment, Forests and Climate Change, Dr Harsh Vardhan, launched the Global Cooling Prize in New Delhi, India Today has reported. The prize is aimed at addressing a key global challenge that will impact climate change in the coming years. It was launched at the Global Cooling Innovation Summit.
The event was jointly organised by Alliance for an Energy-efficient Economy (AEEE), Department of Science and Technology, Rocky Mountain Institute, Conservation X Labs, and CEPT University.
The Global Cooling Prize is an international competition which encourages the development of cooling technology which has five times lesser impact on the environment in comparison to existing technology. The winner of the competition will get $ 3 million as the prize.
There are 1.2 billion cooling units in the world. Innovation in the area of cooling technology can lead to a reduction of 100 Gigatons of carbon-dioxide emissions by 2050, according to estimates. An appropriate technology can also contribute to mitigating 0.5 degrees of temperature rise by 2100.
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