The programme aims to accelerate businesses’ transition to energy-efficient and low-carbon cooling technologies

The Akbank Sustainable Cooling Financing Programme, developed to scale up sustainable cooling technologies and accelerate climate-friendly investments in Türkiye, was launched at an event held in Istanbul.

The event brought together representatives from the public sector, financial institutions, and the private sector to explore investment opportunities, technological transformation, and financing models in sustainable cooling. The role of sustainable finance in Türkiye’s transition to a low-carbon economy and the strategic importance of the cooling sector were highlighted, with emphasis on the critical role of financing mechanisms in addressing the growing demand for cooling.

Developed in collaboration with Akbank under the Cool Up Programme, the initiative stands out as one of the pioneering efforts to facilitate access to finance in the field of sustainable cooling. The programme brings together sustainable finance, technical advisory, and technology partnerships under one framework, aiming to increase investments in energy efficiency, accelerate the transition to natural refrigerant technologies, and contribute to reducing carbon emissions in the sector.

Rising global temperatures and urbanization are rapidly increasing the demand for cooling, while also creating significant pressure on energy consumption and emissions. In Türkiye, the building sector accounts for approximately 48 percent of total electricity consumption; a substantial share of this stems from heating and cooling systems. Therefore, the transition to sustainable and energy-efficient technologies plays a critical role in combating climate change.

In this context, the Cool Up Programme, whose implementation in Türkiye is carried out under the coordination of UNDP Türkiye, aims to increase the use of natural refrigerants, support the widespread adoption of energy-efficient systems, and strengthen institutional capacity in the field of sustainable cooling.

As the first strategic partnership of the Cool Up Programme with a financial institution in Türkiye, the financing model developed under this initiative is expected to accelerate transformation investments in sectors with high cooling demand, including food and cold chain, tourism, commercial buildings, industry, logistics, and storage. 

Through the programme, businesses will benefit from comprehensive support, including sustainable finance products, access to international financing sources, and partnerships with technology providers. In addition, collaborations with solution partners will facilitate access to appropriate technologies, while also supporting access to technical knowledge and practical applications.

The Cool Up Programme, supported by the International Climate Initiative (IKI) of the German Federal Government, is led by Guidehouse Germany GmbH. IKI is positioned under the Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety (BMUKN).

Cool Up is a regional initiative implemented in Egypt, Jordan, Lebanon, and Türkiye to scale up sustainable cooling solutions. The programme supports climate-friendly transformation in the cooling sector by bringing together policy development, financing mechanisms, and technology deployment.