Zurich launches climate resilience alliance

A new alliance has been formed by Zurich Insurance Group and its corporate foundation, the Z Zurich Foundation, to support climate adaptation and help build resilience.

The Zurich Climate Resilience Alliance aims to assess current levels of resilience within vulnerable communities and implement appropriate solutions to climate hazards, and is committed to addressing systemic barriers that hinder resilience-building efforts.

The new alliance evolves from the Zurich Flood Resilience Alliance launched in 2013. Zurich said this strategic shift reflects the urgent need for adaptation efforts that address the escalating impact of climate change.

“The urgency of climate adaptation has never been more apparent. Rising global temperatures are causing devastating consequences, disproportionately affecting those without adequate resources to adapt and build resilience,” said Zurich.

The Alliance unites a diverse group of humanitarian organisations, NGOs, research partners and the private sector. It comprises the same nine members as previously – Zurich Insurance Company, Concern Worldwide, the International Federation of the Red Cross and Red Crescent Societies, Mercy Corps, Plan International, Practical Action, the International Institute for Applied Systems and Analysis, the London School of Economics and the Institute for Social and Environmental Transition International.

Gregory Renand, head of the Z Zurich Foundation, said: “Since 2018, the Alliance’s initiatives have positively impacted the lives of over three 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 $1.25bn. 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.”

Zurich noted that 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. “Despite these growing threats, the potential for climate adaptation to mitigate impacts on vulnerable communities remains largely unrealised. Insufficient investment in preparedness, risk reduction and recovery has resulted in increased loss and damage following each disaster,” said the insurer.

It added that long-term, sustainable resilience to climate hazards, such as floods, storms, heatwaves and wildfires, can only be achieved through genuine collaboration with affected communities. The Alliance is committed to working together with communities to assess current resilience levels and introduce the most appropriate solutions to climate hazards, Zurich explained, adding that each Alliance programme is uniquely designed to address the needs of the community it serves.

Zurich said the launch of the Alliance marks a significant step in the journey to address the climate change crisis. “By broadening its focus and strengthening its work on community collaboration and systemic change, the Alliance aims to create a world where vulnerable communities are not just resilient but thriving in the face of climate hazards,” it said.

Linda Freiner, chief sustainability officer, Zurich Insurance Group, said: “I am delighted to see this evolution. 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.”