July 30, 2025; Washington, D.C.
Organized & Co-hosted by Daikin Sustainability & Innovation Center and CoolPact Capital
At the Daikin x CoolPact event this week, we convened a dynamic, multi-stakeholder panel exploring both the urgency and opportunity of delivering sustainable and affordable cooling. With representatives from industry, investment, research, and policy—including Daikin U.S. Corporation, CoolPact Capital, TechEmerge (IFC – International Finance Corporation), Natural Resources Defense Council (NRDC), and RMI—the conversation was as diverse as it was solution-oriented. Daikin’s Sustainability & Innovation Center Tour was a highlight, offering guests a first-hand look at Daikin’s latest advancements in energy-efficient, climate-friendly cooling, led by Anuj Mistry – Special thanks to the entire Daikin U.S. Corporation Team and Anuj for hosting this event.
The needs are urgent and accelerating global demand for cooling is set to skyrocket as extreme heat events become the new normal, and nowhere is the challenge—and opportunity—more pronounced than India. Since 2019, India’s medium-risk population for heat stress grew by 55 million and will pass 1 billion by 2030—a monumental systems challenge. Alan Miller, CoolPact Capital Managing Director, urged action to “fill the early and growth stage capital gap—a missing middle in cooling finance. Only 10% of Indian households currently own air conditioners – expected to soar past 1 billion units by 2050. This represents a massive market opportunity in the many billions but also a critical nexus for climate adaptation, energy use & economic growth.
Panelists emphasized that technology alone isn’t enough.
While advances in efficient compressors, natural/low-GWP refrigerants, IoT-enabled controls, and retrofits are vital, successful adoption hinges on robust policy frameworks, finance for scaling, and ongoing R&D. The experience of TechEmerge’s pilots worldwide, including cold chain programs and large commercial installations, show what is possible & learnings from the Global Cooling Prize underscored the critical role of humidity control- where Inefficient ACs currently increase energy usage by 20-25% due to excessive cooling required to manage humidity.
A recurring theme
The “missing middle” in cooling is as much about people as it is about finance & products. With an anticipated need for over 2 million skilled HVAC technicians in India by 2037 (up from just 350,000 now), workforce development emerged as a must-have enabler for lasting impact. Proper installation, maintenance, and lifetime operational performance depend on a skilled, certified workforce—and this is where investment and collaboration are most urgently needed.
This event was a reminder: the cooling revolution requires us to act systemically, building coalitions that link technology, finance, policy, and skills.
Special thanks to the panel members – Cara Martin, Selçuk Tanatar, Prima Madan, Ian McGavisk & discussants.
