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.

Regarding 'The Economics of Ecosystems and Biodiversity (TEEB)': 1. It is an initiative hosted by UNEP, IMF and World Economic Forum. This statement is incorrect. TEEB is an initiative primarily hosted by the United Nations Environment Programme (UNEP) and was initiated in response to a proposal from the G8+5 leaders at their 2007 Potsdam meeting. It is not directly hosted by the IMF or World Economic Forum. 2. It is a global initiative that focuses on drawing attention to the economic benefits of biodiversity. This statement is correct. TEEB aims to highlight the economic benefits of biodiversity and ecosystem services, as well as the growing costs of biodiversity loss and ecosystem degradation. 3. It presents an approach that can help decision-makers recognize, demonstrate and capture the value of ecosystems and biodiversity. This statement is correct. TEEB develops a framework and methodology to help integrate the values of nature into decision-making at all levels – national, local, and business. Therefore, statements 2 and 3 are correct.