I was highly sceptical about this news but the Peltier effect is a thing, although how really effective it is, is another question. Which is why this particular article is a bit more interesting as the author did actually test it out.
The device can actually warm or cool the body a bit, but battery life is around 4 hours and you do need the special shirt to hold it in position.
See Sony’s wearable air conditioner is pretty cool
Can Sony’s latest gadget help beat the heat?