Home Publications policy brief Accounting for Non Economic Loss & Damage changes perspective of L&D as a whole

Accounting for Non Economic Loss & Damage changes perspective of L&D as a whole

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Adverse impacts induced by climate change is already occurring and manifesting in the form of losses and damages which are expected to accelerate as climate change worsens and tipping points in eccological systems are reached. Failure to address climate-driven loss can trap populations in a state of vulnerability.

Such kinds of losses and damages can be either economic or non-economic in nature. Economic losses and damages can be measured using market prices. In contrast, non-economic loss and damage (or ‘NELD’) refers to a broad range of harmful impacts that are not so easily quantified, especially in financial terms. This makes it difficult to evaluate the non economic nature and the intensity of the losses and damages faced by frontline communities.


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