UPSC Prelims 2016 Q52: Environment & Ecology – Environmental Governance & Legislation
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) 2 and 3 only
Explanation
The Economics of Ecosystems and Biodiversity (TEEB)
TEEB began in 2007, after a meeting of G8+5 environment ministers at Potsdam, Germany.
It was led by the Indian economist Pavan Sukhdev.
| Statement | Verdict | Fact |
|---|---|---|
| 1. It is an initiative hosted by UNEP, IMF and World Economic Forum | Incorrect | It is hosted by UNEP; the IMF and World Economic Forum have no role |
| 2. It is a global initiative that focuses on drawing attention to the economic benefits of biodiversity | Correct | It shows the cost of losing nature |
| 3. It presents an approach that can help decision-makers recognize, demonstrate and capture the value of ecosystems and biodiversity | Correct | Recognize, demonstrate, capture are its three steps |
Key facts:
| Feature | Detail |
|---|---|
| Started by | Germany and the European Commission |
| Idea | Nature's services have economic value that markets ignore |
| India | TEEB-India Initiative on forests, wetlands and coasts |
Answer: (c) 2 and 3 only.
Why each option is right or wrong
- (a) Incorrect. Statement 1 is false; the IMF and World Economic Forum do not host TEEB.
- (b) Incorrect. Statement 2 is also true: TEEB highlights the economic benefits of biodiversity.
- (c) CORRECT. TEEB shows the economic value of ecosystems and biodiversity to decision-makers.
- (d) Incorrect. Statement 1 is false; only UNEP hosts the initiative.
Key point
TEEB (2007): started by Germany and the European Commission, hosted by UNEP, led by Pavan Sukhdev; makes the economic value of nature visible.
Remember
TEEB = UNEP-hosted study on the value of nature.
Common mistakes
- Adding the IMF or the World Economic Forum because 'Economics' is in the name.
- Thinking TEEB is a treaty; it is a study and an approach.
- Forgetting the Indian link: Pavan Sukhdev led the study.
Exam tip
Environment initiatives are hosted by UNEP, not by the IMF.
Sources
- The Economics of Ecosystems and Biodiversity — About TEEB
- Ministry of Environment, Forest and Climate Change — TEEB-India Initiative