From 7 to 11 September, the capital of Azerbaijan will host Climate Week 4 — a regional climate week under the UN Framework Convention on Climate Change. At the same time, Baku Climate Action Week 2026 will take place under its auspices, bringing together representatives from governments, business, financial institutions, investors, green technology developers, the scientific community and international organisations.
According to the organisers, the business agenda will focus on how to translate climate commitments into concrete projects, investments and technological solutions. Participants will discuss sustainable finance, low-carbon development, climate adaptation, sustainable infrastructure, renewable energy and the circular economy.
The programme will aim to foster regional and international cooperation; establish new partnerships and attract investment; strengthen the involvement of young people, women, the academic community, civil society and local communities; develop green skills and climate education; promoting the principles of the circular economy and Zero Waste as key tools for a just transition and sustainable development.
$450 billion a year: the cost of climate risks
According to Oxu.az, which cites the Financial Times, annual global losses from climate change could reach $450 billion in ‘a typical year’ in the coming years, and even more in catastrophic years. Two years ago, damage from natural disasters reached $320 billion, according to UN estimates. The rise in losses is linked, amongst other things, to urban sprawl and the increase in the number of properties and infrastructure in areas prone to natural hazards.
Meanwhile, Swiss Re’s research division reports that global insured losses from natural disasters in the first half of 2026 amounted to $42 billion. The main cause of these losses was severe convective storms, primarily in the US, followed by winter storms in the US and Europe.
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