With reference to an initiative called ‘The Economics of Ecosystems and Biodiversity (TEEB)’,

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.

(a)

1 and 2 only

(b)

3 only

(c)

2 and 3 only

(d)

1, 2 and 3

Answer:

(c)

Explanation

The initiative on ‘The Economics of Ecosystems and Biodiversity’ (TEEB) is an important partner in implementing the CBD programme of work on incentive measures, and in particular its work on valuation. This major international initiative, funded by the European Commission, Germany, United Kingdom, Norway, the Netherlands and Sweden, and managed by the United Nations Environment Programme as part of its Green Economy Initiative (GEI), seeks to draw attention to the global economic benefits of biodiversity, to highlight the growing costs of biodiversity loss and ecosystem degradation, and to draw together expertise from the fields of science, economics and policy to enable practical actions moving forward. Members of the TEEB Advisory Board include the Executive Director of UNEP, the Executive Secretary of the CBD and the Director General of IUCN, amongst others. Tikdam: