Hello and welcome to Business Daily from the BBC with me, Manuel Saaragos.

Coming up, the economics of deforestation in the Amazon.

The challenge is that the Amazon is providing benefits for the whole world,

but the people who actually live their day-to-day lives and own that land are not being compensated for that.

As fires once again destroyed vast tracts of the world's biggest forest, with dire consequences for climate change,

we hear what economics can do to save trees there, provided politics doesn't get in the way.

There were huge billboards thanking Jai Belshinararo, you know, big landowners, farming communities.

They, of course, are happy with the push to develop the Amazon economically.

That's all here in Business Daily from the BBC.

So this used to be rainforest, and now it's a soybean farm.

And in the back, you can see the Amazon rainforest, and this is it.

This is the whole problem.

This is where the farming industry is bumping up against nature

and the fear is it will consume nature all together.

The BBC's Nomia Iqbal reporting from the Amazon rainforest in Brazil last year.

It's not just soybean farms. There are also cattle ranches destroying the environment there

as trees are cut down and land is burnt

to clear it for agriculture. In fact, fires in Brazil's Amazon have surged this year. That's

according to the Brazilian Space Agency, INPE, which monitors what's happening on the ground.

And IMPE has also warned that the Amazon's rate of deforestation has increased in recent years

under the government of right-wing President Zhao Bolsonaro.

It matters to all of us because the Amazon is often called the lungs of the world.

...