Official Answer Key & Detailed Solution
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Correct Answer: Option (C) — 2 and 3 only
Concept & Option Breakdown
Standard Reference VerifiedStatement 1 is incorrect: The Economics of Ecosystems and Biodiversity (TEEB) was initiated in 2007 by the environment ministers of the G8+5 countries (proposed by Germany and the European Commission) and is hosted by the United Nations Environment Programme (UNEP). IMF and the World Economic Forum are not its hosting institutions.
Statement 2 is correct: TEEB is a major international initiative aimed at drawing global attention to the economic benefits of biodiversity and highlighting the growing economic costs of biodiversity loss and ecosystem degradation.
Statement 3 is correct: TEEB outlines a three-tiered approach to guide decision-makers in recognizing value (in intrinsic, spiritual, and social terms), demonstrating value (in economic terms), and capturing value (through market mechanisms and regulations).
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