LOSS AND DAMAGE
[Option 1: (paragraphs 65-65septies)
65. Recalls decisions 2/CP.19 and 2/CP.20 on the Warsaw International Mechanism for Loss and Damage a**ociated
with Climate Change Impacts;
65bis. Invites all Parties to reduce the risk of and address loss and damage a**ociated with the adverse effects of climate
change;
65ter. Encourages all Parties to strengthen early warning systems and comprehensive risk management planning for
both extreme and slow onset events a**ociated with the adverse effects of climate change;
65quater. Decides that the Warsaw International Mechanism will, following its review in 2016, continue to serve as the
mechanism for loss and damage;
65quinquies. Requests the Executive Committee of the Warsaw International Mechanism, which guides the
implementation of the functions of the Warsaw International Mechanism, to develop guidance for a
comprehensive approach to climate risk management;
65s**ies. Also requests the Executive Committee to establish, as part of its work plan, a clearing house for risk transfer
that serves as a repository for information on insurance and risk transfer that serves as a repository for
information on insurance and risk transfer, in order to facilitate Parties' efforts to develop and implement
comprehensive risk management strategies;
65septies. Further requests the Executive Committee to complement, draw upon the work of and involve, as
appropriate, existing bodies and expert groups under the Convention, as well as that of relevant organizations and
expert bodies outside the Convention, to enhance understanding, coordination and cooperation with regard to
displacement, migration and planned relocation in the context of climate change, where appropriate, at the
national, regional and international levels;]
[Option 2: (paragraphs 65-65quinquies)
65. Encourages Parties to develop early warning systems and risk management plans for both extreme events and
slow onset events and to communicate them to the secretariat as part of their national communications, in
accordance with the modalities and procedures to be developed and adopted by the Conference of the Parties;
65bis. Agrees that, as part of its work, the Warsaw International Mechanism for Loss and Damage a**ociated with
Climate Change Impacts shall develop guidelines for a comprehensive approach to climate risk management;
65ter. Establishes a financial technical panel under the Warsaw International Mechanism, which shall explore
approaches for:
(a) Establishing regional and subregional pools to support regional and subregional risk transfer schemes;
(b) Providing support for microfinance initiatives;
(c) Exploring finance for slow onset events;
65quater. Decides to develop interim modalities and procedures for the operation of a climate change displacement
coordination facility, which shall:
(a) Assist in developing arrangements for emergency relief;
(b) Assist in providing organized migration and planned relocation;
65quinquies. Establishes under the Warsaw International Mechanism a clearing house for risk transfer, which shall:
(a) Provide a repository for information on insurance and risk transfer;
(b) Assist Parties in developing risk management strategies and finding the best insurance schemes;
(c) Facilitate financial support for rehabilitation;]