There is evidence that, without strong risk management and adaptation, losses and damages will continue to affect the poorest vulnerable populations, potentially creating poverty traps  . Research has started to develop global inventories on losses and damages, including on intangible effects , and engaged with the practice community for data collection. Practice has provided guidance to report on losses and damages in countries NDCs . Yet, systematic risk assessments of climate-related losses and damages including adaptation limits  have remained scarce . Thus, many vulnerable countries lack comprehensive data at scale of risk management including on economic  and non-economic losses and damages , thus hampering effective risk management . Van den Homberg and McQuistan  propose a losses and damages inventory also to be used to monitor how technologies may shape risks as well as adaptation limits. While early warning and other risk reduction options as well as risk retention considerations are being discussed, L&D dialogue has strongly focused on risk finance for residual risks, particularly through the donor-supported provision of public insurance systems .
IPCC
Climate Change 2022: Impacts, Adaptation and Vulnerability
IPCC Report