Page - 12 - in Loss and Damage from Climate Change - Concepts, Methods and Policy Options

12 R.Mechler et al. areenablers/disablersforadaptationplanningandimplementation,adaptationlimits havebeendefinedbyKlein et al. (2014) as loci atwhich adaptation actions canno longerguaranteekeyactorobjectivesorsystem’sneedscannolongerbeachievedin thepresenceofintolerablerisks(Dowetal.2013).Theselimitscanbehard(meaning adaptive technologies and actions are not physically feasible), or soft (technology and/orimportantsocio-economictrade-offsaffectprioritiestoday,yet thereispoten- tial for overcoming limits in the future) (see also chapter byvandenHomberg and McQuistan2018). 1.3.2 LossandDamage in theContextofClimate andDisasterRiskManagement InL&Ddiscussions,riskmanagementapproacheshavereceivedincreasingattention. Climate riskmanagement has become thewidely acceptedmethodological frame- workforassessingpotentialimpactsanddevisingstrategiesforadaptation.TheIPCC (2014a,p5.)defines riskas: Thepotential forconsequenceswheresomethingofvalue isatstakeandwhere theoutcome isuncertain, recognizing thediversityofvalues.Risk is often representedasprobabilityof occurrenceofhazardouseventsor trendsmultipliedby the impacts if theseeventsor trends occur.Risk results fromthe interactionofvulnerability, exposure, andhazard. IPCC’sSpecialReportonExtremeEvents(SREX2012)andtheIPCC5thAssess- mentReport (IPCC2014b)defineclimateriskmanagement(CRM)asanintegrative Fig.1.3 Riskasa functionofhazard, exposureandvulnerability. Sources IPCC(2012,2014a)