Financial arrangements for addressing losses and damages: A disaster risk reduction primer
In this report, a preliminary framework is offered for understanding existing loss and damage finance arrangements from a DRR perspective and identifying gaps in coverage at the national level, using examples from low- and middle income countries to show where these need to be strengthened and scaled up.
The report proposes a national loss and damage finance framework for extreme weather events and for slow-onset processes based around the following concepts:
- Risks can be avoided or un-avoided and they may, in certain circumstances, be unavoidable;
- Loss and damage can be economic or non-economic;
- Loss and damage can be direct (immediate) or indirect (knock-on effects), requiring different types of finance;
- The volumes of finance needed will increase over time.
