Q: With reference to an initiative called ‘The Economics of Ecosystems and Biodiversity (TEEB)’, which of the following statements is/are correct
a) 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.
b) It presents an approach that can help decisionmakers recognize, demonstrate and capture the value of ecosystems and biodiversity. Select the correct answer using the code given below.
The correct answer is 2 and 3 only.
The Economics of Ecosystems and Biodiversity (TEEB)
- It is an international initiative that draws attention to the global economic benefits of biodiversity. Hence statement 2 is correct.
- The TEEB study was initiated by Germany and the European Commission in response to a suggestion made by the G8+5
- Environment Ministers in Potsdam, Germany, in 2007.
- The project’s goal was to provide global research on the economics of biodiversity loss.
- The UNEP, IMF, and World Economic Forum do not host it. Hence, Statement 1 is not correct.
It tries to achieve this goal by using a structured approach to valuation that assists decision-makers in recognizing the wide range of benefits offered by ecosystems and biodiversity, demonstrating their economic values, and suggesting ways to capture those values in decision-making where appropriate. Hence statement 3 is correct.
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