AR5 provided an extensive discussion of the costs to human and natural systems associated with climate risks. It recognised the challenges which long time frames, uncertainty and the differing values held by stakeholders create for the monetisation of losses. The AR6 SROCC built on the discussion of cultural values-typically also difficult to monetise-through a consideration of cultural ecosystem services and cultural forms of valuation, with cases from high mountain areas and polar regions . AR6 expands this discussion of multiple forms of valuation in several ways. It considers regulation and litigation as mechanisms for promoting the consideration of both monetisable and non-monetisable losses in
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report