Managing Climate Risks, Facing up to Losses and Damages
This report addresses the urgent issue of climate-related losses and damages. Climate
change is driving fundamental changes to the planet with adverse impacts on human
livelihoods and well-being, putting development gains at risk. The scale and extent
of future risks for a given location is, however, subject to uncertainties in predicting
complex climate dynamics as well as the impact of individual and societal decisions
that determine future greenhouse gas emissions as well as patterns of socio-economic
development and inequality.
The report approaches climate-related losses and damages from a risk management perspective.
It explores how climate change will play out in different geographies, over time,
focusing on the three types of hazards: slow-onset changes such as sea-level rise;
extreme events including heatwaves, extreme rainfall and drought; and the potential
for large-scale non-linear changes within the climate system itself. The report explores
approaches to reduce and manage risks with a focus on policy action, finance and the
role of technology in supporting effective risk governance processes. Drawing on experiences
from around the world, least developed countries and small island developing states
in particular, the report highlights a number of good practices and points to ways
forward.
Published on November 01, 2021Also available in: French
Least developed countries (LDCs) and Small Island Developing States (SIDS) are both
at high risk of climate-related impacts: people in LDCs might experience a 50% higher
increase in extreme heat compared to the global average; in SIDS many losses and damages
are associated with sea-level rise.
Managing uncertainty
Efforts to manage risk need to consider uncertainties in planning for actions in relation
to each of the three components of climate risk: limiting hazards, minimising exposure
and reducing vulnerabilities to those hazards.
Differing approaches
Increasing awareness of risks is key for the different actors – e.g. governments,
households and businesses – to manage their risks effectively by making appropriate
use of risk reduction, retention and transfer approaches in relation to their needs
and capacities.