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.

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YESPYQ · Accepted Answer

Correct answer: 2 and 3 only. The Economics of Ecosystems and Biodiversity (TEEB) was launched by Germany and the European Commis- sion in 2007. It is a global effort to raise awareness of the eco- nomic advantages of biodiversity. TEEB’s objective is to raise at- tention to the rising costs associated with biodiversity loss and ecosystem degradation and to bring together experts in science, economics, and policy to facilitate actionable solutions. Statement 1 is incorrect: It is an international initiative, launched by Germany and the European Commission. The sec- ond phase of the TEEB study is hosted by the United Nations Environment Programme (UNEP) with support from a number of other organizations. Statement 2 is correct: It is an international initiative to draw attention to the global economic benefits of biodiver- sity. Its principal objective is to mainstream the values of biodi- versity and ecosystem services into decision-making at all levels. Statement 3 is correct: Its objective is to highlight the growing cost of biodiversity loss and ecosystem degradation. It follows a

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