By 2050, demand for air conditioning, refrigerators and refrigerated transport will increase seven-fold in Africa and four-fold in Asia, according to the UN Environment Agency (UNEP) and the World Bank's private sector arm IFC.

"These nations are especially vulnerable to the deadly effects of rising temperatures and are urgently in need of cooling solutions," said IFC head Makhtar Diop in a statement.

Rising temperatures as well as increasing populations and urbanisation in many developing countries are boosting demand for cooling devices.

The cooling sector already sucks up a fifth of the world's electricity and demand is on track to triple by 2050, with the developing world accounting for 80 percent of total demand, the report said.

A balance is needed between the impact on climate change and the vital need for refrigeration to keep vital goods such as crops and vaccines from spoiling.

"As record temperatures continue to be broken across the world, keeping cool is an essential need for both healthy communities and a healthy environment," said Inger Andersen, executive director of UNEP, which is based in Nairobi.

"However, we must avoid creating a vicious cycle of meeting cooling demands through solutions that further heat up the planet," she added.

UNEP and IFC, united in a "Cool Coalition" of 130 partners, stressed the need to develop sustainable and energy-efficient solutions that can halve related emissions and reduce electricity bills.

They called for the private sector to invest in a market that is expected to double to $600 billion a year by 2050 in developing countries.

They also highlighted the importance of developing so-called "passive" solutions, such as reflective materials or planting trees to provide shade.