The staggering economic toll of climate change on Bangladesh’s aquaculture has been revealed for the first time in a new study published in Climate Risk Management.
Research finds a staggering US$140 million in losses from 2011 to 2020, a figure that highlights the vulnerability of this key economic sector in Bangladesh to climate change.
“Our findings are not just numbers; they represent the livelihoods of thousands dependent on aquaculture,” said Dr Rumana Hossainn, WorldFish scientist and lead author on the research.
”The financial losses we’ve identified underscore the urgent need for investment in Climate Information Services which could be a game-changer for our aquaculture industry.”
Resetting the balance
The WorldFish Center and CGIAR backed study, ’Economic valuation of climate induced losses to aquaculture for evaluating climate information services in Bangladesh’, further highlights the value of tools such as Climate Information Services (CIS).
It estimates that if CIS can offset even 10% of climate-induced damage to aquaculture, its value could be up to US$14 million a year to the industry.
CIS are services that provide targeted and timely information about climate patterns and trends in advance, helping aquatic food systems,policy makers and fisher and fish farmer communities make informed decisions to adapt to climate change.
To reach its finding, the study used an innovative data analysis method, merging online newspaper data with government and satellite datasets to provide a comprehensive view of the climate-related losses faced by the aquaculture industry which could serve as a model for estimating the financial impact of climate change in other data-scarce contexts
Dr Hossainn said that the studies findings emphasise CIS’s potential in not just mitigating risks but also in significantly contributing to the sector’s economic stability and growth.
