The Committee on Development Effectiveness met to consider the Independent Evaluation Group (IEG) evaluation entitled Biodiversity for a Livable Planet: An Evaluation of World Bank Group Support for Biodiversity, Fiscal Years 2010–24 and the World Bank management response.

The committee welcomed the evaluation and commended IEG for delivering a comprehensive and timely report. Members noted its strategic relevance, particularly its pertinence to the Climate Change Action Plan. Several members recognized the evaluation as a valuable input to inform the future direction of the Climate Change Action Plan and broader climate and biodiversity efforts. They also emphasized that biodiversity should remain a central consideration across all World Bank Group operations, with particular attention to the synergies between climate and biodiversity.

Members expressed strong support for all IEG’s recommendations and highlighted that this evaluation demonstrates the critical role of biodiversity in sustaining a livable planet. They noted biodiversity’s contributions to food security, soil and human health, marine and crop productivity, livelihoods, and jobs. However, most members acknowledged that biodiversity loss remains significant and must be urgently addressed. Members stressed the importance of strategic engagement with Indigenous Peoples and local communities to achieve sustainable and equitable conservation outcomes. Members also emphasized the benefits of pursuing “win-win” approaches that simultaneously support biodiversity conservation and development objectives. They called on the Bank Group to replicate and scale up biodiversity-positive production models, particularly in agriculture, fisheries, and other value-added sectors, such as tourism. They underscored the need for stronger accountability mechanisms in biodiversity financing and operations and appreciated the evaluation’s examples of tailored financial solutions, such as blue bonds and wildlife bonds, to promote biodiversity conservation.

They requested further insights from management on the Bank Group’s experience with these instruments and their potential for scaling. Furthermore, members highlighted that the Bank Group’s role as a Knowledge Bank should include drawing on best practices and prioritizing bottom-up learning from individuals, communities, and local governance structures.

Members agreed with IEG and management that addressing biodiversity challenges requires coordinated action across the World Bank, the International Finance Corporation, and the Multilateral Investment Guarantee Agency. While management’s agreement with IEG’s four recommendations was appreciated, members emphasized the need for specificity in the implementation plan to operationalize the recommendations, including resources, staffing, clear timelines, and concrete actions.