Climate change exacerbates extreme weather events like heatwaves and flash floods, leading to loss and damage (L&D) for vulnerable communities worldwide. Given that the global average temperature has already increased by more than 1.1°C from the pre-industrial period and the speed of increase is unbroken, it is almost certain that the severity and scope of climate change impacts will escalate in the coming years. The concept of L&D is particularly important to low-income and Small Island Developing States (SIDS) that are disproportionately affected by climate change while having contributed only marginally to the problem. Moreover, these nations often lack the resources to adapt to the effects of climate change, making them more susceptible to severe L&D. Consequently, any approach to L&D must include both mitigation and adaptation (including comprehensive risk management strategies) to reduce future L&Ds effectively.