Magnitude and Risk of Livelihood Asset Damage due to Climate Change-Induced Disasters of the Coastal Fisher of Bangladesh

Abstract Objective The purpose of this study was to assess the magnitude and risk of livelihood asset damage due to climate change-induced disasters for the coastal fishermen of Bangladesh. Method Using a random sampling technique, a cross-sectional study was conducted among 338 coastal dwelling fishers and other coastal fishery actors from 11 coastal districts. A pretested, semi-structured questionnaire was used to collect data following the face-to-face interview method. Data were analyzed using SPSS (Statistical Package for Social Sciences). Results Findings revealed that more than 90% of the participants lived within 3.5 kilometers of the coastal zones and had to struggle against at least three (range: 1–8) moderate to highly severe CCI disasters, including recurring floods, waterlogging, and cyclones, within the last five years. Consequently, 92% of C&MFs have lost livelihood assets, including physical and financial assets (living houses, fisheries, household livestock, and poultry). It was found that each C&MF (coastal and marine fishermen) household is recurrently losing an average of 9183 BDT annually in only three physical assets. Consequently, only about 0.6 million registered C&MFs are losing around 5,509 million BDT (equivalent to about $64.81 million US dollars) annually in Bangladesh. Thus, every one million HH of coastal and marine fishermen and other coastal fishery actors face financial losses of 9183 million BDT (equivalent to about $108.04 million) every year only in three physical assets. Each million C&MF households, on the other hand, borrows approximately 7301 million BDT (equivalent to $85.89 million) per year to cover household expenditure shortfalls caused by insufficient income and physical asset damage caused by CCI disasters. Conclusion Climate-resilient livelihoods, such as improving technological fishing skills to increase fish production and generating alternate income sources in different IGA (income-generating activity) trades during off-fishing seasons, have the potential to save C&MF's living standards and thus mitigate the negative effects of CCI disasters on the national economy.