Irrespective of ongoing climate policy efforts, residual risk from climate change impacts remains in all countries for all plausible scenarios and could result in losses and damages. Climate change impacts are already being observed, and atmospheric greenhouse gas concentrations from past emissions will inevitably lead to a certain level of additional impacts. In response to this risk, GIZ’s Global Programme on Risk Assessment and Management for Adaptation to Climate Change (Loss and Damage) (GP L&D) has developed a climate risk management (CRM) framework to avert, minimise, and address losses and damages.
The GP L&D’s CRM framework is a risk-based, iterative approach to managing climate-related risks, taking into consideration social, economic, non-economic, institutional, biophysical and environmental aspects. It understands measures related to mitigation, climate change adaptation, disaster risk reduction, and risk finance and insurance as complementary parts of the same toolbox. In order to attain the smartest mix of measures for a given situation, it links tried-and-tested measures with innovative instruments and transformational approaches in a comprehensive and integrated way.