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Former Climate Change Officer, Sustainable Development and Climate Change Department, Asian Development Bank
Rexel Abrigo supported key adaptation-related activities, including the implementation of ADB’s climate risk management framework. He was also part of the team that mainstreamed climate change adaptation in the project development process for South Asia, and implemented several capacity building activities there. He has a Master of Science degree on Environmental Science and Management.
Several national and regional initiatives address the risks of loss and damage associated with climate change impacts.
Countries need to build capacity and develop financial solutions for different climate risks, including those that can better address slow-onset events.
Contingency finance is a risk retention approach for addressing loss and damage associated with climate change impacts.
The lack of a dedicated financial mechanism to address climate-related loss and damage underscores the need for innovative ways to address this funding gap.
A financial instrument to help governments finance disaster relief and post-disaster reconstruction without over-stressing their fiscal budgets
Various financial schemes have been developed to cover some of the risks of loss and damage associated with climate change impacts.
Risk reduction, retention, and transfer are risk management approaches that can be used to address loss and damage associated with climate change impacts.
Work has just started in defining and addressing the loss and damage from climate change that cannot be prevented by mitigation and adaptation efforts.