Loss and Damage

▶ In the United Nations Framework Convention on Climate Change (UNFCCC), loss and damage has emerged as a third key pillar of climate policy, alongside mitigation and adaptation, to address ever-increasing climate impacts in developing countries that are particularly vulnerable to the adverse effect of climate change.
▶ Losses and damages arise when efforts to avoid or minimize climate impacts through mitigation and adaptation fail. Given the slow progress of mitigating greenhouse gas (GHG) emissions and of adapting to climate risks, some losses and damages are occurring, and further loss and damage is unavoidable.
▶ There is a broad typology of responses available for both economic and non-economic losses and damages that must all respect country ownership and be equitable, inclusive,  accessible and adequate, but the lack of conceptual clarity is a clear barrier to making progress on loss and damage.
▶ Many uncertainties remain regarding the financial need to address loss and damage, but innovative funding sources and governance structures must be found to reach the necessary scale.