Question

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 ecosystem and biodiversity.

• A. 2 only
• B. 2, 3
• C. 1, 3
• D. All

Answer 1

Answer:

B. 2, 3

The Economics of Ecosystems and Biodiversity (TEEB)

• The Economics of Ecosystems and Biodiversity (TEEB) is a global initiative that aims to assess the economic value of ecosystems and biodiversity and integrate this information into policy and decision-making processes.
• It was launched in 2007 by the European Commission and has since been supported by various international organizations, including the United Nations Environment Programme (UNEP) and the World Bank.
• It seeks to highlight and quantify the economic value of ecosystems, biodiversity, and the services they provide to human societies.
• By emphasizing the economic aspects of biodiversity, TEEB aims to promote a better understanding of how the conservation and sustainable use of natural resources can lead to economic prosperity and human well-being.
• TEEB works to ensure that decision makers including government officials or community stakeholders, recognize the critical role that ecosystems and biodiversity play in supporting human well-being and economic activities.
• By emphasizing the various services and benefits provided by ecosystems, TEEB helps raise awareness about the intrinsic value of nature.