San Francisco (October 30, 2023) – Metrus Energy, a market leader in climate-positive investing, announced today that it is joining the Cool Coalition, a partnership of proactive governments, businesses, and civil society organizations that aims to accelerate progress toward efficient and climate-friendly cooling.
This announcement coincides with a period of significant growth in the demand for cooling equipment. Data from the International Energy Agency reveals that electricity demand for space cooling could increase by 40% by 2030. This surge in demand represents a major environmental concern since the majority of cooling systems rely on high global warming potential refrigerants and contribute to indirect emissions through the electricity consumption of chillers and other HVAC equipment.
By becoming a member of the Cool Coalition, Metrus has committed to expanding its off-balance sheet Energy-as-a-Service (EaaS) financing solution for customers looking to enhance the energy efficiency of their cooling and heating systems. Metrus will also actively promote the adoption of environmentally friendly cooling technologies that incorporate low-or zero-GWP refrigerants.
“Joining the Cool Coalition is another significant stride in our dedication to a sustainable future,” stated Bob Hinkle, founder of Metrus Energy. “Enhancing the energy efficiency of cooling systems is paramount for reducing environmental impact, moderating energy consumption, and countering the adverse effects of climate change. We take pride in our partnership with this global initiative, working diligently to advance cooling solutions that are both environmentally friendly and energy-efficient.”
About Metrus Energy
Since 2009, Metrus Energy has been leading the way to a sustainable, low-carbon future by bringing energy efficiency and clean energy projects to life and helping organizations decarbonize faster. Metrus’ pay-for-performance model, in which customers benefit from the energy solution without having to own the equipment, launched the Energy as a Service industry. Metrus provides a comprehensive, climate-positive financing solution that pays for all upfront and ongoing project costs, enabling upgrades to aging infrastructure, improving equipment resiliency, and lowering carbon emissions without the capital expense. Metrus is a signatory to the United Nations Principles for Responsible Investment, America Is All In, and the US Department of Energy’s Better Buildings Challenge and Better Climate Challenge.
About the Cool Coalition
The Cool Coalition is a global multi-stakeholder network government, cities, international organizations, businesses, finance, academia, and civil society groups committed to a rapid global transition to efficient and climate-friendly cooling. The Coalition is one of the official outcomes and “Transformation Initiatives” put forward by the Executive Office of the Secretary-General for the UN Climate Action Summit. The Coalition’s Secretariat is hosted by the United Nations Environment Program. The Cool Coalition, assembled by the United Nations Environment Programme (UNEP) in 2019, has more than 100 partners, including 23 countries.