Investing in energy efficiency to strengthen the cold value chain of small and medium enterprises The project objective is to implement energy efficiency labeling for refrigerators and air-conditioning and engage private financing to invest in energy efficiency of cold value chain operated by small and medium enterprises. Note: Disbursement data provided is cumulative and covers disbursement made by the project Agency. 171. In order to evaluate the real value of energy efficiency policy, especially for the developing countries, where substantial economic growth and related energy demand increase are expected, the multiple benefits approach should be applied. This approach seeks to expand the perspectives of energy efficiency beyond the traditional measures of reduced energy demand and lowered CO2 emissions by identifying and measuring its impacts across many different spheres.172. Investments in energy efficiency support economic growth by reducing industrial energy consumption, as well as improving industrial productivity and, hence, increasing the sustainability and competitiveness of local businesses. While energy efficiency standards and labelling promote better market conditions for those businesses which produce good-quality efficient products. These impacts are likely to lead to the employment rate growth in the country.173. Improved energy efficiency helps developing countries with a low energy access rates to expand access to electricity, enabling them to supply power to more people through existing or expanding energy infrastructure. Energy efficiency measures also have the potential to reduce the country’s dependence on imports of oil and other fossil fuels, thereby improving their balance of trade and lowering exposure to associated price volatility.174. Energy efficiency standards and labelling provide consumers with the opportunity to choose more energy efficient appliances, leading to reductions of the per-unit cost of lightning, heating, refrigeration and other services, which contributes to poverty alleviation.175. Energy efficiency policy can help reduce local air pollution which, hence, leads to human health benefits.176. In today’s global farm to fork marketplace, refrigeration plays a huge role in terms of preserving nutrition, food (and medicine) safety, food waste and export opportunities. Perishable foods, including fruits, vegetables, dairy products and meats products, need to be kept in a chilled or frozen state along the entire supply chain. The benefits, in reality, go beyond just hunger-reduction and cold chain economics. Producing food that is spoiled or wasted, also wastes land, water, labor and other valuable resources. Food waste is a significant source of greenhouse gases, mostly in the form of methane, a pollutant at least 25 times more potent than carbon dioxide with a direct effect on the climate.177. Development of the cold chain helps meet market requirements for quality and safety, and improves food production and food security. Reliable and efficient cold chains contribute not only to reducing losses but also to enhancing the technical and operational efficiency of the food supply chain.178. The cold chain enables the country to take part in the global perishable products market either as producers or as consumers. On the one hand, the cold chain contributes to the local and regional market of temperature-controlled logistics which contributes to the economic benefit of the country. On the other hand, the growth in revenue is associated with a higher tendency to consume more fruits, vegetables, fish and meat products. Increasing income levels create a change in the diet and lead to a growing demand for fresh fruit and higher value foodstuffs such as meat and fish.179. From a geographical perspective, the cold chain has the following impacts on the market:·    Local. Timely distribution to the final consumer of perishables, namely grocery stores, and restaurants. In addition guarantees access to temperature sensitive health care products in all different parts of the country.·    Regional. It can support the specialization of production and economies of scale in distribution. This could involve sizeable investment in cold storage facilities servicing regional grocery markets or specialized laboratories exchanging temperature sensitive pharmaceutical components. In addition, specialization of agricultural functions permits the transport of temperature-sensitive food products to distant markets180. In the absence of refrigeration, high temperatures are not merely uncomfortable; they directly affect human health, national productivity and societal well-being in diverse and under-appreciated ways. Scaling up affordable access to cooling will thus be critical if countries are to meet the Sustainable Development Goals (SDGs), particularly in the areas of food security, health, education, employee productivity, and inequality181. People of different ages and gender experience different thresholds of thermal comfort. Lack of sufficient refrigeration and exceeding the comfort threshold affects people's health and the quality of life in different ways. Improper cooling may lead to a person becoming critically unwell or even death.182. Thermal conditions affect people’s ability to function in their different individual and social activities. Studies show that children’s cognitive skills are affected negatively by high temperatures. A lack of air conditioning in schools can lead to temporary closures resulting in student absence and consequential underperformance.183. In a similar way, thermal conditions affect employees’ work performance and productivity directly, by impacting cognition, engagement, mood, and comfort, as well as indirectly, through absenteeism.184. In addition, cold chains facilitate the access to healthcare products and services. The WHO estimates that more than half of freeze-dried vaccines, and 25% of liquid vaccines, are wasted every year due to intermittent power supplies and a lack of effective cooling. Like vaccines, most medications are temperature sensitive. Some medicines can only handle a fluctuation of 2 to 8 degrees; others can’t be exposed to heat over 25 degrees Celsius. Many hospitals receive pharmaceutical shipments in coolers, which depending on the drug, can be safe for 24 to 48 hours without refrigeration; others must be used immediately. Promoting investment in technologies and services to guarantee the quality and efficacy of temperature sensitive health care products, including medicines, vaccines, insulins, blood products etc, during their transportation and distribution around the country improves the welfare of society.