Why in News?

• Two-day summit will be inaugurated by Union Science & Technology Ministry in New Delhi.
• The Summit is a first-of-its-kind solutions-focused event that will bring together leaders from around the world to explore means and pathways to address the climate threat that comes from the growing demand from room air conditioners.

Global Cooling Prize:

• The Global Cooling Prize – Mission Innovation challenge aims to spur development of a residential cooling solution that has at least five times (5x) less climate impact than today’s standard.
• It is a competition with global reach and participation to achieve dramatic breakthroughs in cooling technologies.
• The competition aims to develop a cooling technology that requires radically less energy to operate, utilizes refrigerants with no ozone depletion potential and with low global warming potential, and has the potential to be cost-effective at scale.