ARTICLE 8: LOSS AND DAMAGE

Parties recognize the importance of averting, minimizing and addressing loss and damage associated with the adverse effects of climate change, including extreme weather events and slow onset events, and the role of sustainable development in reducing the risk of loss and damage. 2. The Warsaw International Mechanism for Loss and Damage associated with Climate Change Impacts shall be subject to the authority and guidance of the Conference of the Parties serving as the meeting of the Parties to this Agreement and may be enhanced and strengthened, as determined by the Conference of the Parties serving as the meeting of the Parties to this Agreement. 3. Parties should enhance understanding, action and support, including through the Warsaw International Mechanism, as appropriate, on a cooperative and facilitative basis with respect to loss and damage associated with the adverse effects of climate change. 4. Accordingly, areas of cooperation and facilitation to enhance understanding, action and support may include: a) Early warning systems; b) Emergency preparedness; c) Slow onset events; d) Events that may involve irreversible and permanent loss and damage; e) Comprehensive risk assessment and management; f) Risk insurance facilities, climate risk pooling and other insurance solutions; g) Non-economic losses; and h) Resilience of communities, livelihoods and ecosystems. 5. The Warsaw International Mechanism shall collaborate with existing bodies and expert groups under the Agreement, as well as relevant organizations and expert bodies outside the Agreement.