Conceptual Paper: Analyzing Climate-Induced Financial Risks in the Langkawi Fishing Sector

Abstract

This proposed research addresses the pressing concern of climate change's impact on Langkawi's fishing industry. While the research is yet to be conducted, it offers a blueprint for comprehending the complex relationship between climate change and the financial health of this vital sector. Its central aim is to conduct a comprehensive examination of the financial risks that climate change poses, providing valuable insights for decision-making and strategic planning. The research design employs a structured approach encompassing quantitative analysis, time series assessments, scenario modelling, and spatial analyses, all tailored to effectively address the research objectives. Anticipated outcomes include quantifying climate-induced financial risks, identifying influential climate variables, and proposing potential adaptation strategies for the industry. The findings, once realized, are poised to directly inform policy development, benefiting policymakers, industry stakeholders, and local communities. This knowledge will support the creation of adaptive strategies and policies that enhance the sector's resilience in the face of climate change. Recognizing potential limitations and challenges, including data availability and quality, the validity of assumptions, and the inherent uncertainty in modelling future climate scenarios, this research proposal will evolve into a comprehensive research endeavor. Its overarching goal is to empower informed decisions that mitigate risks and foster the sustainability of Langkawi's fishing sector in an era of climate change. The insights and recommendations emerging from this study offer the potential to positively impact Langkawi's community while contributing to broader discussions on environmental and economic sustainability.