Definition 1
Compound Climate Disaster means simultaneous or successive extreme weather or climate events with severe environmental, economic or social consequences [that occur over [a short time/ [●] years].
Definition 2
Compound Climate Disaster means:
(a) two or more extreme weather or climate events occurring simultaneously or successively;
(b) combinations of extreme weather or climate events with underlying conditions that amplify the impact of those events; or
(c) combinations of weather or climate events that are not themselves extremes but lead to an extreme weather or climate event or impact when combined.
Drafting notes and guidance
Extreme weather events are defined as weather that is unseasonal, unexpected, unusual or severe in comparison to historical weather distribution for a particular area.
In climate science, compound events can be:
- Two or more extreme events occurring simultaneously or successively;
- Combinations of extreme events with underlying conditions that amplify the impact of the events; or
- Combinations of events that are not themselves extremes but lead to an extreme event or impact when combined.
For a party (for example, an insured policyholder) to be affected by a compound climate disaster, they (or relevant aspects of their business) must be situated within the exact location that the extreme weather event(s) occurred.