The need for mapping, modelling, and predicting flood hazard and risk at the global scale

The socioeconomic impacts of flooding are huge. Between 1980 and 2013, flood losses exceeded $1 trillion globally, and resulted in approximately 220,000 fatalities. To reduce these negative impacts of floods, effective flood risk management is required. Reducing risk globally is at the heart of two recent international agreements: the Sendai Framework for Disaster Risk Reduction and the Warsaw International Mechanism for Loss and Damage Associated with Climate Change Impacts. Prerequisites for effective risk reduction are accurate methods to assess hazard and risk, based on a thorough understanding of underlying processes. Due to the paucity of local scale hazard and risk data in many regions, several global flood hazard and flood risk models have been developed in recent years. More and more, these global models are being used in practice by an ever‐increasing range of users and practitioners. In this chapter, we provide an overview of recent advances in global flood hazard and risk modeling. We then discuss applications of the models in high‐level advocacy in disaster risk management activities, international development organizations, the reinsurance industry, and flood forecasting and early warning. The chapter concludes with several remarks on limitations in global flood risk models and the way forward for the future.