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.
Answer & explanation
Answer: (c) 2 and 3 only
TEEB is a global initiative, housed in UNEP (not in the IMF or the World Economic Forum), that draws attention to the hidden economic value of nature and gives decision-makers an approach to recognise, demonstrate and capture that value. So statements 2 and 3 are correct and 1 is not.
- ✗ 1. UNEP hosts the TEEB Office (in Geneva since March 2011). The IMF and the World Economic Forum are not its hosts.
- ✓ 2. TEEB seeks to draw attention to the invisibility of nature in the economic choices that governments and businesses make.
- ✓ 3. TEEB's structured approach to valuation helps decision-makers recognise the benefits of ecosystems, demonstrate their values in economic terms and, where suitable, capture those values in decisions.
Remember · TEEB (The Economics of Ecosystems and Biodiversity): a UNEP-hosted global initiative to make nature's values visible - recognise, demonstrate, capture. Not an IMF or WEF body.
Sources
- UNEP: The Economics of Ecosystems and Biodiversity (TEEB) ↗ “a structured approach to valuation that helps decision-makers recognize the wide range of benefits provided by ecosystems and biodiversity, demonstrate their values in economic terms and, where appropriate, capture those values in decision-making”
- UNEP: TEEB Approach and Timeline (March 2011 entry) ↗ “March 2011 UNEP hosts the TEEB Office TEEB finds its institutional home at the United Nations Environment Programme in Geneva, Switzerland and sets up an office to manage day-to-day operations and communications activities. … The TEEB initiative seeks to draw attention to the invisibility of nature in the economic choices we make across the domains of international, national, and local policy-making, public administration, and business.”
Question and answer: UPSC's official GS Paper I (2016, Series A) — paper ↗ · answer key ↗. Explanation: Minimalist IAS, checked 30 Sept 2026 (how we verify). ·