Page - 102 - in Loss and Damage from Climate Change - Concepts, Methods and Policy Options
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102 T.Schinkoet al.
Fig.4.9 Conceptualising risk layering. SourceBasedonMechler et al. (2014)
a layer for infrequent catastrophicevents,wherepublic and international assistance
is decisive, and (iv) a very rare, high risk layer,whichwill require assistance from
international climate fundingsources (seeFig.4.9).
Weargue that risk layeringcanbeavaluable tool todefine theLossandDamage
riskandoptionsspaceforeconomicormarket-basedlossesanddamages,whichcan
bequantifiedandcosted.Employingaclimaterisklens,afocusonlossdistributions
isappropriateas itprovides informationonthewhole riskspectrumandnotonlyon
expected or average losses.Average annual (or expected) lossesmaydiffer greatly
compared topotential lossesof lowprobability events, e.g. forBangladeshaverage
losses associatedwith cyclone hazard are estimated to be around 0.5 billionUSD,
while a 500year event is gauged to cause losses 40 times higher (UNISDR2015).
In addition, the risk layering approach canhelp determine the increase or decrease
of climate-related risks, and disentangle the increase according to the underlying
driversof risk—hazard,exposureandvulnerability.Thishas important implications
for theprioritisationof instrumentswithin theoptions space.
Asoneexample,Fig.4.10providesresultsfromanapplicationoftherisklayering
approachtothefiscalimplicationsoffloodriskinBangladesh,thedominantclimate-
related risk in the country (based onMechler et al. 2014; Mechler and Bouwer
2015;Hochrainer-Stigler et al. 2016) (for amoredetaileddiscussionof the caseof
Bangladesh see thechapterbyHaqueet al. 2018).Thequantitative riskassessment
Loss and Damage from Climate Change
Concepts, Methods and Policy Options
- Title
- Loss and Damage from Climate Change
- Subtitle
- Concepts, Methods and Policy Options
- Authors
- Reinhard Mechler
- Laurens M. Bouwer
- Thomas Schinko
- Swenja Surminski
- JoAnne Linnerooth-Bayer
- Publisher
- Springer Open
- Date
- 2019
- Language
- English
- License
- CC BY 4.0
- ISBN
- 978-3-319-72026-5
- Size
- 16.0 x 24.0 cm
- Pages
- 580
- Keywords
- Environment, Climate change, Environmental law, Environmental policy, Risk management
- Categories
- International
- Naturwissenschaften Umwelt und Klima