Consider the following statements in respect of The Economics of Ecosystems and Biodiversity (TEEB) initiative:
1. It involves payment for environment services and introduction of tax breaks for conservation.
2. It aims to draw attention to the global benefits of biodiversity and economic cost of biodiversity loss.

Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 and 2

Question

Consider the following statements in respect of The Economics of Ecosystems and Biodiversity (TEEB) initiative:
1. It involves payment for environment services and introduction of tax breaks for conservation.
2. It aims to draw attention to the global benefits of biodiversity and economic cost of biodiversity loss.

Which of the statement(s) given above is/are correct?
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 and 2

ONLiNE UPSC · Accepted Answer

The Economics of Ecosystems and Biodiversity (TEEB) is a global initiative that highlights the economic value of biodiversity and ecosystem services while emphasizing the costs of biodiversity loss.

Statement 1 is correct: TEEB promotes economic incentives for conservation, including payment for ecosystem services (PES) and tax benefits to encourage environmental protection.

Statement 2 is correct: TEEB aims to make policymakers and businesses aware of the global benefits of biodiversity and the economic consequences of biodiversity loss by integrating ecological and economic perspectives.

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Economics of Ecosystems and Biodiversity (TEEB) initiative

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M Question 1	⏱ 0
Consider the following statements in respect of The Economics of Ecosystems and Biodiversity (TEEB) initiative: 1. It involves payment for environment services and introduction of tax breaks for conservation. 2. It aims to draw attention to the global benefits of biodiversity and economic cost of biodiversity loss. Which of the statement(s) given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 and 2