Listening to: St Matthew Passion: JS Bach (Leonhardt)
"The LORD saw that the wickedness of man was great in the earth" (Gen 6:5)
The LORD said "I have seen that you [Noah] are righteous before me", so the LORD saved him, his household and all those animals he takes with him (Gen 7:1)
"the waters prevailed...but God remembered Noah...and God made a wind [or 'Spirit'] blow" (Gen 7:24f)
"The LORD smelled the pleasing aroma" of Noah's sacrifice and made a covenant never to curse the ground again and to bless Noah and his sons (Gen 8:20ff).
God gave the sign of the rainbow so that when Noah was no longer around he would "see it and remember the everlasting covenant"
Fulfilled in the righteous man who drowned in God's wrath, was remembered by the Father, was saved by the Spirit, made an pleasing sacrifice to the Father who then gave us the sign of baptism which he sees and remembers the covenant he made with his Son.
... or something like that.