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

Statement 1 is incorrect. While TEEB is a well-respected initiative, it's not directly hosted by UNEP, IMF, and the World Economic Forum. Germany and the European Commission launched it in response to a proposal by G85 Environment Ministers. Statement 2 is correct. TEEB's primary goal is to highlight the economic value of biodiversity and ecosystems. It aims to move beyond traditional economic models that often overlook the significant contributions that nature makes to human well-being. Statement 3 is correct. By providing tools and methodologies, TEEB empowers decision-makers to consider these values when making choices that impact the environment.