Zurich creates alliance to accelerate climate resilience

Insurance firm Zurich has turned what was previously its Flood Resilience Alliance into a new Climate Resilience Alliance gathering NGOs, research partners and the private sector to accelerate climate adaptation.

The alliance is comprised of Zurich Insurance Company, Concern Worldwide, the International Federation of the Red Cross and Red Crescent Societies (IFRC), Mercy Corps, Plan International, Practical Action, the International Institute for Applied Systems and Analysis (IIASA), the London School of Economics (LSE)and the Institute for Social and Environmental Transition International (ISET) – the same members as the Flood Resilience Alliance.

It will focus on assessing current levels of resilience within vulnerable communities and implementing appropriate solutions to climate hazards.

Read also: Climate resilience approaches (and budget considerations) for CSOs

Urgent need for adaptation efforts

Zurich says the shift from flood to climate resilience “reflects the urgent need for adaptation efforts that address the escalating impact of climate change” after 2023 was the hottest year on record, with a significant rise in the frequency and intensity of storms, flash floods and other climate-related hazards.

Severe storms cost insurers a record US$60 billion last year, and climate organisations are urging companies and governments to ramp up their investment in climate adaptation – or risk losing billions more.

"Since 2018, the Alliance’s initiatives have positively impacted the lives of over 3 million climate-vulnerable people across more than 350 communities worldwide, from the Philippines to Zimbabwe to Mexico and points in between. The advocacy work of the Alliance influenced an increase in resilience spending of more than US$1.25 billion. Now, we are expanding our focus beyond floods to tackle additional climate hazards such as heatwaves, wildfires, and storms. This broadened scope reaffirms our unwavering commitment to creating a more resilient future for vulnerable communities around the globe," said Gregory Renand, Head of the Z Zurich Foundation.

Zurich’s Linda Freiner: ‘Our work is far from over’

The Flood Resilience Alliance was launched in 2013 by then programme manager Linda Freiner, who has since been named Zurich’s Chief Sustainability Officer.

"Over the past decade, Alliance members have made significant strides in addressing the climate crisis, showcasing the power of collaboration and innovation. However, our work is far from over. The urgency of the climate crisis requires that we accelerate our collective efforts, leveraging the lessons learned and the collaborations forged to drive even greater impact. The next decade is crucial, and I am confident that together, we can achieve the ambitious goals necessary to secure a sustainable future for generations to come," Freiner said upon announcing the new Climate Resilience Alliance.

Read CSO Futures’ interview of Zurich Chief Sustainability Officer Linda Freiner