India, Dec. 1 -- NEW DELHI - A new World Bank report finds that as temperatures steadily rise in India due to climate change, keeping spaces cool using alternative and innovative energy efficient technologies can open an investment opportunity of $1.6 trillion by 2040. This also has the potential to reduce greenhouse gas emissions significantly and create nearly 3.7 million jobs.

India is experiencing higher temperatures every year. By 2030, over 160-200 million people across the country could be exposed to lethal heat waves annually. Around 34 million people in India will face job losses due to heat stress related productivity decline. The current food loss due to heat during transportation is close to $13 billion annually. By 2037, the...