Is a Members liability open-ended?
No. All awards under the Compact are subject to financial limits, which are defined in SDRs (Special Drawing Rights), a monetary unit defined by the International Monetary Fund. Financial limits are common to many international liability systems. The limits under the Compact were established by reviewing costs for other types of environmental damage and relating those to the nature of potential damage to biological diversity. Compact Members believe these limits will prove sufficient for adequately remedying any damage caused to biological diversity and will revisit them at least every five years to evaluate whether they are or not.
