This white paper aims to draw attention to the successful application of servitisation in the cooling industry and share on-the-ground insights from the Cooling as a Service (CaaS) Initiative launched and implemented by the Swiss not-for-profit organisation BASE – Basel Agency for Sustainable Energy with the financial support of the philanthropic organisation Clean Cooling Collaborative, formerly known as K-CEP (the Kigali Cooling Efficiency Program). The aim of this initiative was to develop, test and scale-up the adoption of the pay-per-use CaaS subscription business model around the world. The initiative has been hailed as a success by technology providers seeking to implement the model, investment funds and banks seeking to create green portfolios, and international organisations like the World Green Building Council getting involved to engage users. The model has received awards from organisations such as the Global Innovation Lab for Climate Finance and the Keeling Curve Prize and has been referenced in publications from the likes of the Economist Intelligence Unit and the World Economic Forum.