With reference to an initiative called lsquo The Economics of Ecosystems and Biodiversity TEEB rsquo...........

Environment and Ecology Concept of Ecosystems

With reference to an initiative called ‘The Economics of Ecosystems and Biodiversity (TEEB)’, which of the following statements is/are correct?

1. It is an initiative hosted by UNEP, IMF and World Economic Forum.

2. It is a global initiative that focuses on drawing attention to the economic benefits of biodiversity.

3. It presents an approach that can help decision-makers recognize, demonstrate and capture the value of ecosystems and biodiversity.

Select the correct answer using the code given below.

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UPSC CSP Previous Year Paper (2016)

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1 and 2 only

3 only

2 and 3 only

1, 2 and 3

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Explanation:

‘The Economics of Ecosystems and Biodiversity (TEEB) is a global initiative, objective is to mainstream the values of biodiversity and ecosystem services into decision-making at all levels. It aims to achieve this goal by following a structured approach to valuation that helps decision-makers recognize the wide range of benefits provided by ecosystems and biodiversity, demonstrate their values in economic terms and, where appropriate, capture those values in decision-making.’

Therefore statement Statement 2 and 3 are correct.

It started from the G8+5 environment ministers since 2007. You can read more about it in the source given below. The TEEB office is hosted by the United Nations Environment Programme (UNEP).