This report addresses the urgent issue of already occurring and future climate-related losses and damages. It approaches climate-related losses and damages from a risk management perspective. It explores how climate change currently is and in the future 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, heavy 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 and 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.

The report was largely completed before the release of the report by Working Group I (WGI) of the Intergovernmental Panel on Climate Change (IPCC) as part of its Sixth Assessment Report (AR6). Nevertheless it was informed by the same (and some more recent) research literature that is assessed in the WGI report. This report also benefited throughout a year-long project, from advice and bespoke inputs on specific issues from leading climate change scientists. It has also been able to draw on a wide range of expertise, both of research (e.g. economics, social science) and senior-level policy, finance and disaster risk and recovery experts from international organisations, national governments and think tanks. A series of workshops bringing together policy and science communities and a High Level Advisory Group established to provide input and feedback on the development of this report have been particularly valuable in ensuring that the report was informed by a diverse set of perspectives and expertise.

This report is aimed at policy makers responsible for exploring and assessing potential actions to reduce and manage the risks of losses and damages from climate change. Many key insights also apply more widely across society including on environment and disaster risk management and for ministries such as finance, infrastructure, water and agriculture that increasingly need to consider the adverse impacts of climate change. The report distils information and enhances understanding of some important issues regarding these risks. In so doing, it hopes to inform (international and domestic) political and public dialogue, and to stimulate action indirectly through stakeholders in the private sector and civil society.

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