Observing that there is not enough public money to invest in the biodiversity needs of the world, Rachel Kyte, World Bank Vice President for Sustainable Development, said new approaches are needed to finance nature conservation efforts.
The World Bank has a long track record in mobilising resources and its role now is in innovating and bringing in new financial mechanisms, she said.
"In an era of diminishing public expenditures for biodiversity conservation, we need innovation, communication and effective partnerships.
"We are seeing more and more examples of partnership that cross the boundaries between the public, private and non-government spheres to bridge public financing gaps and to deliver effective conservation on the ground," she said.
She was speaking at a side event organised at the ongoing UN Convention on Biodiversity on