This portfolio review is a report for the World Conservation Congress in Barcelona in October 2008. It provides an update on previous reviews of the Bank’s biodiversity portfolio, which focused on specific ecosystems (forests, mountains, marine ecosystems) and themes (protected areas) as well as previous overviews of the whole portfolio. It includes information on some of the most recent highlights of the portfolio, particularly those projects and programs that emphasise biodiversity-climate change linkages. This portfolio update incorporates both stand-alone biodiversity projects and biodiversity-related sectoral projects - e.g a hydropower project in Lao PDR, an irrigation project in Iran, and a ship-generated waste management project in the Eastern Caribbean - that clearly describe and include biodiversity activities.