On this theme, a COP23 meeting is scheduled for November, which will also be held in Bonn to discuss financial instruments and instruments to deal with the risks of loss and damage “with an emphasis on innovative instruments/systems”. This is the first mention of “loss and damage” in a UNFCCC document – tabled by @AOSISChair 1991 #SB46 t.co/pLdRZZ5R3K pic.twitter.com/AJ0OnsuLZN first, which emerged decades ago as a relatively obscure plea for small island states, recognition of losses and damages as the third pillar of international climate policy after mitigation and adaptation. But turning the concept of loss and damage into something more tangible for countries that bear most of the burden of extreme weather or rising seas has proved more fragile. Comment: Managing the “loss and damage” caused by climate change This carbon letter article provides a comprehensive overview of the most important conditions for negotiations on losses and damage. The UNFCCC has defined losses and damage to include damage caused by sudden events (climate disasters such as cyclones) and slow processes (such as sea level rise).  Losses and damage can occur in both human systems (such as livelihoods) and natural systems (such as biodiversity), while research and policy focus on human impact.  In the area of loss and harm suffered by human systems, a distinction is made between economic and non-economic losses. The main difference between the two is that non-economic losses include things that are not often traded in the markets.  As loss and evil begin to take shape as a concept, the way in which it must be managed remains a much more delicate problem that needs to be resolved. Areas of action on losses and damages in the Paris Agreement.
Source: The United Nations Convention in 1991, at the time of the development of the United Nations Framework Convention on Climate Change (UNFCCC), the Alliance of Small Island States (AOSIS) – a group of negotiations of nations facing some of the worst risks of climate change – stressed the need to address losses and damage to vulnerable countries. The group proposed the creation of an international insurance pool that could, for example, compensate victims of the expected sea level rise. While it is difficult to fix a dollar value on damage, economic models suggest that climate change, as early as the 20th century, caused hundreds of billions of billions of dollars of damage worldwide due to crop loss, rising seas and more extreme weather conditions. However, it took another 16 years to include losses and damages in a formally negotiated UN text. As part of the improvement of accommodation measures, the 2007 Bali Action Plan called for: some legal experts have even proposed that the paragraph on liability and compensation contained in the Paris text be so vague that it does not completely prevent liability and compensation.