loss and damage definition

loss and damage means the negative effects of climate variability and climate change that people have not been able to cope with or adapt to;
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loss and damage means negative effects of climate-related stressors that occur despite efforts to reduce or prevent greenhouse gas emissions and adapt to climate change.
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loss and damage refers to the consequences of climate change that go beyond what people can adapt to, or when options exist but a community does not have the resources to access or utilize them. At COP27, a historic agreement was reached on a fund to help poorer countries face the harm caused by climate change. However, questions remain over who would contribute, who would benefit, and whether it will do enough. Estimated annual adaptation needs, according to the United Nations Environment Programme’s (UNEP) Adaptation Gap Report 2022 could cost developing countries USD160-340bn by 2030 and USD315-565bn by 2050 if climate change accelerates. Recent Pledges Towards Loss & Damage Finance At COP27 Belgium - to provide EUR2.5mn in loss and damage funding for Mozambique Austria - to allocate EUR50mn over the next four years to fund loss and damage in the world’s most vulnerable countries Ireland - committed EUR10mn to the Global Shield Initiative New Zealand - committed NZD20mn to loss and damage globally Canada - announced CAD24mn would be dedicated to the “needs and priorities of developing countries” Germany - to provide EUR170mn to the Global Shield Against Climate Risks initiative* * A fund dedicated to providing climate risk insurance and prevention support for at-risk countries. Source: Various reports Promise To Keep 1.5°C Alive…But Fossil Fuels? The final deal reiterated the promise set by the 2015 Paris climate agreement to keep overall global warming from rising more than 1.5°C compared to pre-industrial era of the 1800s. But to reach the loss and damage deal, some felt that the COP27 agreement had compromised on tougher commitments to limit global warming to 1.5°C. It also drew criticism for not doing more to rein in climate-damaging emissions, both by setting more ambitious national targets and by scaling back use of fossil fuels such as coal, oil and natural gas. Climate Emissions Are Still Rising Too Fast According to the Emission Gap Report 2022 from the UNEP, emissions are only expected to fall around 10% by 2030 in a best case scenario. To keep warming to the crucial threshold of 1.5°C, emissions would need to fall 45% below 2010 levels by 2030. Still, not all countries are keeping to their promises. In 2021, China, the US, the EU27, India, Russia and Japan remained the world’s largest CO2 emitters. Together they account for 49.2% of global population, 62.4% of global GDP, 66.4% of global fossil fuel consumption and 67.8% of global fossil CO2 emissions. All s...
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More Definitions of loss and damage

loss and damage. The Hirer shall indemnify SMPCC for the cost of replacing keys or any item lost, and the cost of repair of any damage done to any part of the property including the surroundings or the contents of the building, which may occur during the period of the hiring and as a result of the hiring. The Hirer shall not interfere in any way with the switchboard, electricity or gas fittings, meter fittings or fixtures on the premises. It is the responsibility of the Hirer to ensure that the electricity supply is appropriate for any equipment used and that any equipment used will not endanger, overload or damage the electricity supply, circuits, wiring, plugs, sockets, switchboards or other equipment. INSURANCE: Sight of the Hirer’s Insurance Certificate is required, when appropriate. The Hirer acknowledges that the loss of any items left unattended is not covered by SMOPCC’s insurance cover.
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loss and damage has the meaning given in clause 12.1;
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Related to loss and damage

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Overhead Damage means any damage to the Vehicle or to any third-party property that is caused by:

  • Cover Damages means, with respect to any Delivery Shortfall, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.

  • Direct Damage has the meaning given to it in clause 26.2;

  • Insured Damage means that part of any damage occurring to the Leased Premises of which the entire cost of repair is actually recovered by the Landlord under a policy of insurance in respect of fire and other perils from time to time effected by the Landlord, or for which the Landlord has self-insured under Section 9.1 herein.

  • Special Damages shall have the meaning as set forth in Section 5.07.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Consequential Loss means loss of profits, anticipated loss of profit or revenue, loss of production, loss of business opportunity, loss of or damage to goodwill or reputation, loss of use or any other similar loss, but excludes:

  • Environmental Damages means all claims, judgments, damages, losses, penalties, fines, liabilities, encumbrances, liens, costs and expenses of investigation and defense of any claim, including, without limitation, attorney’s fees, that are incurred at any time as a result of the existence of Environmental Conditions upon, about or beneath the Project Site or migrating or threatening to migrate to or from the Site, and including, without limitation:

  • Seller Damages shall have the meaning given to such term in Section 14.3.

  • Indemnified Damages shall have the meaning assigned to such term in Section 6(a).

  • Environmental Damage means any injury or damage to persons, living organisms or property (including offence to man’s senses) or any pollution or impairment of the environment resulting from the discharge, emission, escape or migration of any substance, energy, noise or vibration;

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Accidental Damage means physical damage, breakage or failure of Your Covered Equipment due to an unforeseen and unintentional event occurring either due to handling (e.g., dropping the Covered Equipment or through liquid contact) or due to an external event (e.g., extreme environmental or atmospheric conditions). The damage must affect the functionality of Your Covered Equipment, which includes cracks to the display screen that affect the visibility of the display.

  • Structural damage means a covered building, regardless of the date of its construction, has experienced the following.

  • Catastrophic Damage as used hereunder is major change or damage to In- cluded Timber on Sale Area, to Sale Area, to access to Sale Area, or a combination thereof:

  • Major Damage means damage that in the estimation of the surveyor exceeds USD

  • Loss of Limb means loss by physical severance of a hand at or above the wrist or of a foot at or above the ankle.

  • protection and indemnity risks means the usual risks covered by a protection and indemnity association managed in London, including pollution risks and the proportion (if any) of any sums payable to any other person or persons in case of collision which are not recoverable under the hull and machinery policies by reason of the incorporation in them of clause 6 of the International Hull Clauses (1/11/02 or 1/11/03), clause 8 of the Institute Time Clauses (Hulls) (1/11/95) or clause 8 of the Institute Time Clauses (Hulls) (1/10/83) or the Institute Amended Running Down Clause (1/10/71) or any equivalent provision;

  • Third Party Claims has the meaning set forth in Section 11.1.

  • Premises Partial Damage means damage or destruction to the Premises, other than Lessee-Owned Alterations and Utility Installations, the repair cost of which damage or destruction is less than fifty percent (50%) of the then Replacement Cost (as defined in Paragraph 9.1(d)) of the Premises (excluding Lessee-Owned Alterations and Utility Installations and Trade Fixtures) immediately prior to such damage or destruction.

  • Damage to Property means physical injury to or destruction of tangible property, including the loss of its use. Tangible property includes the cost of recreating or replacing stocks, bonds, deeds, mortgages, bank deposits and similar instruments, but does not include the value represented by such instruments.

  • Serious damage means any specific defect described in this section; or an equally objectionable variation of any one of these defects, any other defect, or any combination of defects which seriously detracts from the appearance or the edible or marketing quality of the fruit. The following specific defects shall be considered as serious damage:

  • Covered Damage All damages to property of the unit's owner, up to $1,475.00 in the aggregate for each Stay, that occurs during the Covered Guest's stay and that is the result of the inadvertent acts or omissions of the Covered Guest or the Covered Guest's invitee, excluding the damages listed in the conditions section above. • "Covered Guest": All registered guests and all persons booked to share the same unit of accommodations, and have paid the required plan cost. • "Stay": The stay at an iTrip unit, from the date of a Covered Guest's check-in to the date of check-out.

  • Delay Damages means the damages assessed pursuant to Section 3.2(a) hereof.

  • Indemnity Obligations means all obligations of the Company to Indemnitee under this Agreement, including the Company’s obligations to provide indemnification to Indemnitee and advance Expenses to Indemnitee under this Agreement.