Only 8% of the three billion people living in the hottest places on Earth have air conditioning.
A growing number of governments, corporations and individuals are searching for ways to reduce their footprints. The Manhattan skyline is shrouded in a smoky haze from Canadian wildfires as seen from the East River waterfront in Brooklyn, New York, June 6, 2023.developing, it could be another hot one because the last time that phenomenon occurred — in 2016 — it was the hottest year on record.means is heating, ventilation and air-conditioning companies and other firms that provide climate technologies that make buildings more efficient have a multidecade opportunity for growth.
While the multiplier effect could be more modest in the developed world, including the U.S., demand will still rise as temperatures trend higher. Think about places such as Seattle. At one time, it was the least air-conditioned big city in the country, but recent heat waves in the Pacific Northwest have moved the needle there.Here are more FA Council perspectives on how to navigate this economy while building wealth.
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