Loss and damage associated with the adverse impacts of climate change is not an apprehension for the future, it has become a reality for the countries that are exposed to unprecedented extreme weather and climatic events triggered by changing climate. These events are causing both human and economic losses especially in the LDCs and developing countries. The economic losses from weather and climate-related disasters have increased significantly, estimated from a few US$ billion to above 200 billion annually from 1980 to 2010 (IPCC, 2012), also causing higher fatality rates, especially in developing countries. It’s a manifested injustice to the developing countries especially on its poor.

The dramatic increase in the frequency and intensity of disasters associated with the observed and unprecedented rise in global temperature is narrowing the options and feasibility to adapt to unpredictable and frequent changes and to recover from the costs and shocks of economic, human, social, and cultural losses.