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 A cross-sectional study was conducted among 338 randomly selected coastal fishers and other coastal fishery actors from 11 coastal districts of southern Bangladesh. Results Findings revealed that more than 90% of the participants lived within 3.5 kilometres of the coastal zones and had to struggle against at least three moderate to highly severe CCI disasters, including recurring floods, waterlogging, and cyclones, in the past five years. Using ECLAC (United Nations Economic Commission for Latin America and the Caribbean) methodology following DaLA (damage, loss, and need assessment), it was found that yearly Bangladesh has faced economic penalties of nearly BDT 23.606 billion [≈ $224.82 million; (housing: $137.36 million; commercial & livelihoods: $87.46 million); (physical assets: $153.45 million; and financial: $71.38 million)] due to CCI disasters for only one million households of coastal fishers and other coastal fishery actors. The penalties for the same population have also included receiving loans totaling nearly BDT 6.117 billion (≈ $58.25 million) from money lenders or Mahajons per year to recover household expenditure shortfalls and compensation due to CCI disasters. The disastrous CCI incidences such as repeated cyclones and floods, moderate to high severity of disaster, and ≥ 11 days’ longevity of the disaster were significantly associated with the damage and loss of physical and financial assets (i.e., living house, fisheries, livestock, poultry, and penalty to the work-day lost) and also significantly associated with the requirement of receiving loans recurrently from money lenders (p = < 0.05). Conclusion The implementation of coastal management, including the establishment of climate-resilient housing and commercial infrastructure for the studied population, could minimize household-level partial damage and loss. Moreover, the generation of alternate income sources in different IGA (income-generating activity) trades during off-fishing seasons has the potential to protect coastal and marine fishermen's livelihoods.