QUESTION

Hard

Environment & Ecology

Prelims 2016

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

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Explanation

Statement 1 is Incorrect: TEEB was launched in 2007 by Germany and the European Commission following a proposal by the G8+5 Environment Ministers (Potsdam meeting). While the TEEB office is hosted by the United Nations Environment Programme (UNEP), the initiative is not hosted by the IMF or the World Economic Forum.

Statement 2 is Correct: TEEB is a global initiative that focuses on drawing attention to the economic benefits of biodiversity. It aims to highlight the growing cost of biodiversity loss and ecosystem degradation by bringing together expertise from science, economics, and policy.

Statement 3 is Correct: TEEB follows a tiered approach to help decision-makers recognize, demonstrate, and capture the value of ecosystem services and biodiversity. This helps in integrating these values into policy-making and economic accounting.

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