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

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Q: 27 (IAS/2016)
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.

question_subject: 

Ecology

question_exam: 

IAS

stats: 

0,174,114,19,24,174,71

keywords: 

{'ecosystems': [0, 0, 1, 2], 'biodiversity': [2, 0, 2, 9], 'economics': [0, 0, 0, 1], 'global initiative': [0, 0, 0, 1], 'world economic forum': [0, 1, 2, 4], 'economic benefits': [0, 0, 0, 1], 'initiative': [2, 0, 1, 23], 'decision': [1, 1, 1, 2], 'teeb': [0, 0, 0, 1], 'value': [0, 0, 1, 0], 'approach': [0, 0, 0, 2]}

The Economics of Ecosystems and Biodiversity (TEEB) is a global initiative that focuses on making visible the economic benefits of biodiversity. It strives to help decision-makers recognize, demonstrate, and capture the values of ecosystems and biodiversity, which allows them to consider these benefits when making policies. This is encapsulated in statements 2 and 3, making option 3 the correct choice.

Statement 1, however, is incorrect. TEEB is hosted by the United Nations Environment Programme (UNEP), but it is not hosted by the International Monetary Fund (IMF) or the World Economic Forum. These organizations may align with TEEB in their environmental goals, but they do not host the initiative.

So, in summary, TEEB is a UNEP-hosted initiative that emphasizes the economic benefits of biodiversity and provides a frame of reference for policymakers to consider these benefits in decision-making. This is why statements 2 and 3 are correct, and option 3 (2 and 3 only) is the correct answer.