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.

Statements 2 and 3 are correct because TEEB is a global initiative designed to make the economic values of nature visible by providing a structured approach for decision-makers to recognize, demonstrate, and capture the value of ecosystem services. Statement 1 is incorrect because, while the initiative is hosted by UNEP, it was launched by Germany and the European Commission, not the IMF or World Economic Forum. The core concept being tested is the economic valuation of biodiversity and its integration into mainstream policy-making to prevent environmental degradation.