Brazil to start calculating green GDP
Forests, fossil fuels, fields used in farming, and mineral reserves should be taken into in calculating a country's green GDP.
President Michel Temer signed the law that stipulates the calculation of the green GDP, the so-called “national ecological heritage.” The piece of legislation was made public today (Oct. 18).
The United Nations (UN) recommends that forests, fossil fuels, fields used in farming, and mineral reserves should be taken into in calculating a country's green GDP.
To make comparisons between countries possible, both national and international initiatives are to be considered, in a way that is compatible with environmental economic ing systems worldwide.
Under the new law, the methodology to be used must be debated with society as well as public institutions, including the National Congress, before a system of environmental economic s can be officially adopted in Brazil.
The president vetoed the item stipulating that the Inclusive Wealth Index, created by the UN, should be taken into consideration in calculating the green GDP. The Brazilian Institute of Geography and Statistics (IBGE), charged with the country's GDP, will also be calculate its green counterpart. The law also mandates that the new index should be published on a yearly basis, if possible.
Translated by Fabrício Ferreira
Fonte: Brazil to start calculating green GDP
