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 ✓ UPSC's answer
- (d) 1, 2 and 3
Why the answer is (c)
• TEEB (2007) is a global initiative hosted by UNEP, launched by the G8+5 and the European Commission, that draws attention to the economic benefits of biodiversity and the costs of its loss (statement 2).
• It offers a structured approach to help decision-makers recognise, demonstrate and capture the value of ecosystems and biodiversity in policy (statement 3).
• Statement 1 is wrong: the IMF and WEF are not its hosts.
• Hence 2 and 3 only, option (c).
Why the other options are wrong
- (a) 1 and 2 only
- Statement 1 is wrong: IMF and WEF do not host TEEB.
- (b) 3 only
- Statement 2 is also correct: it highlights economic benefits of biodiversity.
- (d) 1, 2 and 3
- Statement 1 is wrong.
Asked in the GS Paper I of the UPSC Civil Services Preliminary Examination 2016, held on 7 August 2016. Question and answer key: Union Public Service Commission. Explanation: UPSC Answer Check.