Non-economic loss

Definition

Non-economic losses refer to a broad range of losses that are not in financial terms and not commonly traded in markets. They may impact individuals (e.g. loss of life, health, mobility), society (e.g. loss of territory, cultural heritage, indigenous or local knowledge, societal or cultural identity) or the environment (e.g. loss of biodiversity, ecosystem services)

Source

United Nations Framework Convention on Climate Change (n.d). Non-economic losses. Available at: https://unfccc.int/wim-excom/areas-of-work/non-economic-losses.

See also: Economic Loss

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