Floods affect more people globally than any other type of natural disaster and cause some of the largest economic, social and humanitarian losses. As part of the unavoidable impacts of climate change, the number of floods worldwide is set to increase.

The Zurich Flood Resilience Program is an innovative initiative that includes Zurich Insurance, Wharton Business School, International Institute of Applied System Analysis, International Federation of Red Cross and Red Crescent Societies and Practical Action to look at the role of financing in building resilience to floods in communities that need it the most. So far, the initiative has mobilized an initial investment of USD 35.6 million in four developing countries (Indonesia, Mexico, Nepal and Peru) to implement flood-resilience and create community-based solutions, such as risk financing mechanisms.

This project won the Momentum for Change award in 2014, under the Financing for Climate Friendly Investment pillar. Momentum for Change is an initiative spearheaded by the UN Climate Change secretariat to shine a light on the enormous groundswell of activities underway across the globe that are moving the world toward a highly resilient, low-carbon future. Momentum for Change recognizes innovative and transformative solutions that address both climate change and wider economic, social and environmental challenges.  The Financing for Climate Friendly Investment pillar recognizes successful and innovative climate-smart activities. This focus area is implemented in partnership with the World Economic Forum.

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