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The Paris Agreement reaffirmed the Warsaw International Mechanism for Loss and Damage as the main vehicle under the UNFCCC process to avert, minimize and address loss and damage associated with climate change impacts, including extreme weather events and slow onset events. The Paris Agreement also requested what is named the Fiji Clearing House for Risk Transfer that serves as a repository for information on insurance and risk transfer, in order to facilitate the efforts of Parties to develop and implement comprehensive risk management strategies.

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