Most of the work on loss and damage has focused on estimating the economic costs of climate change impacts, such as the US$50 billion worth of losses and damages from Hurricane Sandy in the USA. In a similar fashion, non-economic loss and damage has also been converted into market-based economic damage using contingent valuation and other techniques. These measurement efforts undermine the real value of certain items and are inherently problematic. It is important to recognise that not all loss and damage can, or even should, be converted to economic values alone. ECO agrees with environmental economists that some loss … Continue reading It’s not just the economics, stupid!