Zurich alliance sees 'moral imperative' to act on climate risks

Global failures to mitigate and adapt to the climate crisis are causing massive losses and costs to vulnerable communities around the world, a report from the Zurich Flood Resilience Alliance says.

“There is a moral imperative to act in solidarity with those who are suffering now and to develop an approach that will protect generations to come,” a Falling Though the Gaps research report released by the alliance says.

The report, which includes case studies in Bangladesh, Indonesia and Nepal, says adaptation information is lacking in many cases and risk transfer measures, including insurance, are limited by financial, technical and political factors, leading to low update.

Where people are moving and being moved out of flood zones, or where sea level rise is displacing people to new locations, sparse evidence is found of support and rehabilitation schemes.

The report says that “at a minimum” developed nations should make good on the commitment to provide $US100 billion ($149 billion) of climate finance per year, with 50% for adaptation, and with a focus on grants not loans.

Investments should be locally led to enhance the resilience of climate-vulnerable communities, it says.

Lessons from shock-responsive social protection, weather-indexed insurance, and similar schemes should be assimilated and used by national and international agencies to create or strengthen comprehensive and social protection programs and, where appropriate, well-designed insurance schemes, the report proposes.

The need for improved data and information is also highlighted as part of efforts to address the issues.

“While much more evidence is needed at the national, subnational, and community level to fully understand the scale and scope of losses and damages, it is urgent that we mobilise concrete, practical action and formulate effective policies in the face of rising climate-related risks and impacts,” the report says.

The Zurich Flood Resilience Alliance was launched in 2013 and includes humanitarian, non-government organisations, research and private sector partners.