NOTEBOOK – One Good Read: Richard Branson offers prize for efficient AC
PERRY BEEMAN Nov 12, 2018 | 8:36 pm
1 min read time
122 wordsBusiness Record Insider, The Insider NotebookFast Company reports that people who work their way out of poverty tend to buy three things as soon as they can — TVs, refrigerators and air conditioners. This has become increasingly the case in India, China and other growing economies. So Virgin Group founder Richard Branson decided to offer a $3 million Global Cooling Prize for new technology. “The increase in energy consumption for cooling represents a massive risk to meeting our climate goals,” says Branson, who announced the new effort today. The world’s collection of 1.2 billion air conditioners could grow to 4.5 billion by 2050, enough to bump up the global average temperature by half a degree by the end of the century, according to a new report.
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