The Compendium on Comprehensive Risk Management Approaches – Volume 2 provides policymakers with a comprehensive framework for integrating risk-informed decision-making into climate action. It synthesizes the latest developments in climate risk management and outlines responses to losses and damages that have occurred. Case study examples from diverse regions illustrate how tailored interventions can strengthen resilience against hazards such as droughts, floods, heatwaves, and rising sea levels. The Compendium describes the main components of the comprehensive risk and response management framework, namely pre-emptive action, contingency arrangements, managing impacts, transformative action and governance. It also provides information on how specific risk management tools within the framework might be used to address the four primary forms of loss and damage, referred to as “loss and damage signatures” in the Compendium Volume 2. These signatures align with the climate-related representative key risks of the IPCC, describing a combination of a specific type of potential or materialized loss and the particular hazard responsible for it.
The Compendium Volume 2 was prepared under the plan of action of the Technical Expert Group on Comprehensive Risk Management (TEG-CRM) of the Warsaw International Mechanism Executive Committee. The Munich Climate Insurance Initiative, a member of TEG-CRM, led the technical work to develop this volume of the Compendium. The second volume builds on the first by incorporating recent developments in science, policy and practice, recognizing that loss and damage have become more pronounced in recent years.
