TEEB stands for The Economics of Ecosystems and Biodiversity.
It is a high-profile three-year study exploring the economic value of nature, backed by the United Nations and funded by the European Union, Germany, the UK, Netherlands, Norway and Sweden.
Through a series of reports drawing on expertise from around the world, TEEB aims to reveal the economic value of nature to help governments, communities and business better manage their impacts on the environment.
The final TEEB Report, entitled Mainstreaming the Economics of Nature: A synthesis of the approach, conclusions and recommendations of TEEB, was presented at the UN's COP10 summit on biodiversity on 20 October in Nagoya, Japan.
It concluded that the economic cost of damage to ecosystem services amounts to between $2tn and $5tn (£1.3tn and £3.2tn) a year.
Each of the TEEB reports are aimed at different parts of society: TEEB-D0 is targeted at ecologists and economists; TEEB-D1 is aimed at international and national policy makers; TEEB-D2 is for local governments; TEEB-D3 is targeted at business; and TEEB-D4 is for citizens.
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