With reference to an initiative called “The Economics of Ecosystems and Biodiversity (TEEB)” which of the following statements is/are correct?
- It is an initiative hosted by UNEP, IMF and World Economic Forum.
- It is a global initiative that focuses on drawing attention to the economic benefits of biodiversity.
- 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.
[UPSC Civil Services Exam – 2016 Prelims]
(a) 1 and 2 only
(b) 3 only
(c) 2 and 3 only
(d) 1, 2 and 3
- The Economics of Ecosystems and Biodiversity (TEEB) is a global initiative focused on “making nature’s values visible”.
- Its principal 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.
- The Economics of Ecosystems and Biodiversity is an international initiative which draws attention to the global economic benefits of biodiversity. Hence statement 2 is correct.
- It is not hosted by UNEP, IMF and World Economic Forum.