Strategic workstream (b) of the current five-year workplan of the Warsaw International Mechanism Executive Committee (WIM ExCom) focuses on enhancing cooperation and facilitation in relation to non-economic losses (NELs).
Non-economic losses refer to a broad range of losses that are not easily quantifiable in financial terms or commonly traded in markets. These losses are additional to the loss of property, assets, infrastructure, or agricultural production and revenue that can result from the impacts of the adverse effects of climate change. Non-economic losses may affect individuals (e.g. loss of life, health, or mobility), society (e.g. loss of territory, cultural heritage, indigenous or local knowledge, or societal or cultural identity) or the environment (e.g. loss of biodiversity or ecosystem services).
Work facilitated by WIM ExCom on this workstream
The WIM ExCom has been undertaking a range of activities, including under strategic workstream (b) of its five-year rolling workplan.
The Expert Group on Non-economic losses helps execute the work of the WIM ExCom in guiding the implementation of the Warsaw International Mechanism in an advisory role.
