Published: Saturday 04 July 2015

At least 10 per cent of the world's environmental heritage, can be found in Brazil, according to the government officials. Brazil has recently estimated its environmental worth in economic terms. It is the first country in the world to do so. The government-owned Brazilian Institute for Environment and Renewable Resources ( ibama ) reported that the total financial value of Brazil's biodiversity is us $2.072 trillion, which is roughly four times the annual gross domestic product. A total of seven ecosystems were studied in the long-term.

According to the government officials, knowing the financial value of the environment will help in integrating environmental accounting with traditional accounting systems. It will also help the government to calculate and charge compensation from pharmaceutical companies which are exploiting Brazil's rainforest resources to develop drugs. At present the companies are not paying any compensation for exploiting the forests. The study surveyed those areas with are rich in biodiversity, including the Amazon rainforest, world's largest wetlands, the Pantanal, and the Atlantic rainforest, world's most threatened ecosystem.

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