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- Published:
- Massimo Tavoni ORCID: orcid.org/0000-0001-5069-47071,2,3,
- Pietro Andreoni1,2,3,
- Matteo Calcaterra ORCID: orcid.org/0000-0001-9465-20821,2,3,
- Elisa Calliari3,4,
- Teresa Deubelli-Hwang4,
- Reinhard Mechler4,
- Stefan Hochrainer-Stigler4 &
- …
- Leonie Wenz ORCID: orcid.org/0000-0002-8500-15685,6
(2024)Cite this article
-
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Subjects
- Climate change
- Climate-change impacts
- Environmental economics
A loss and damage (L&D) fund has been established to support particularly vulnerable developing countries. L&D funding needs, entitlements and necessary contributions can be quantified using climate economics coupled with historical responsibility principles; for the year 2025, total L&D funding needs are estimated to be US $395 [128–937] billion.
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Acknowledgements
P.A. and M.C. acknowledge support from European Union’s Horizon Europe research and innovation programme under grant agreement No 101056873 (ELEVATE). M.T. acknowledges funding from the European Union ERC Grant project No 101044703 (EUNICE). R.M. and T.D. acknowledge support from the Zurich Flood Resilience Alliance.
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Authors and Affiliations
Department of Management, Economics and Industrial Engineering, Politecnico di Milano, Milan, Italy
Massimo Tavoni,Pietro Andreoni&Matteo Calcaterra
RFF-CMCC European Institute on Economics and the Environment, Milan, Italy
Massimo Tavoni,Pietro Andreoni&Matteo Calcaterra
CMCC Foundation, Euro-Mediterranean Centre on Climate Change (CMCC), Milan, Italy
Massimo Tavoni,Pietro Andreoni,Matteo Calcaterra&Elisa Calliari
Systemic Risk and Resilience (SYRR/ASA) Group, International Institute for Applied Systems Analysis (IIASA), Laxenburg, Austria
Elisa Calliari,Teresa Deubelli-Hwang,Reinhard Mechler&Stefan Hochrainer-Stigler
Complexity Science department, Potsdam Institute for Climate Impact Research (PIK), Potsdam, Germany
Leonie Wenz
Mercator Research Institute on Global Commons and Climate Change (MCC), Berlin, Germany
Leonie Wenz
Authors
- Massimo Tavoni
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- Pietro Andreoni
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- Elisa Calliari
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- Teresa Deubelli-Hwang
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- Reinhard Mechler
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- Stefan Hochrainer-Stigler
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- Leonie Wenz
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Contributions
M.T. conceived the article. M.T. and P.A. developed the model for quantifying L&D. All authors reviewed the literature and wrote the paper.
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Correspondence to Massimo Tavoni.
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Nature Reviews Earth & Environment thanks Melanie Pill, Zoha Shawoo, Joyce Kimutai, and the other, anonymous, reviewer(s) for their contribution to the peer review of this work.
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Tavoni, M., Andreoni, P., Calcaterra, M. et al. Economic quantification of Loss and Damage funding needs. Nat Rev Earth Environ (2024). https://doi.org/10.1038/s43017-024-00565-7
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DOI: https://doi.org/10.1038/s43017-024-00565-7
