SINGAPORE – Global talks get under way on Wednesday that aim to strike a deal to arrest the rapid decline of nature on land and in the oceans, with the planet undergoing its greatest loss of species since the dinosaurs died out.

Delegates from nearly 200 nations are attending the United Nations’ COP15 biodiversity conference in Montreal, Canada, from Dec 7 to 19. The UN hopes the meeting will end with agreement on ambitious goals and targets to halt and reverse the dangerous loss of species, which are under threat from the triple crises of climate change, biodiversity loss and pollution.

Widespread and growing damage to ecosystems, from rainforests to coral reefs, threatens humanity and the global economy, the UN says. That is because nature provides essential “services” such as flood protection, carbon sequestration, clean water, pollination for crops, and water catchments for rivers.

A 2019 report by the Organisation for Economic Cooperation and Development said these ecosystem services are worth up to US$140 trillion (S$189 trillion) – greater than the global gross domestic product.

COP15 is regarded as the last chance to halt and reverse the decline of nature. The talks are being held under the Convention on Biological Diversity (CBD) and chaired by China.

Dr David Cooper, deputy executive secretary of the CBD, said that if humanity does not take action in this decade, the repercussions from accelerating biodiversity loss will be very significant. 

“If we’re removing those ecological functions that underpin so many human needs – food, clean water, clean air – then we’re in trouble,” he told The Straits Times from Montreal, where the CBD secretariat is located.

The conference was meant to be held in Kunming, China, but was shifted to Montreal because of China’s zero-Covid-19 policies.

Dr Cooper said the risk of pandemic diseases will increase as humanity continues to encroach on ecosystems.

“And if we don’t protect our forests and mangroves and peatlands, then we’re going to be accelerating the climate crisis.” 

That is because these ecosystems, along with the oceans and soils, soak up huge amounts of carbon dioxide, the main greenhouse gas. Without these natural carbon sinks, the world would be a lot warmer and the climate impacts much worse.

Earlier this year, a report by the related United Nations Convention to Combat Desertification said up to 40 per cent of the planet’s land area is degraded, such as by deforestation and erosion, affecting half the people alive today and threatening food security.

A separate 2019 report by the UN’s biodiversity science panel said a million species are threatened with extinction, and that the current rates of extinction are the highest since the dinosaurs were wiped out 65 million years ago.

COP15 aims to set 22 new targets to bring nature back from the brink this decade. A key goal is to conserve at least 30 per cent of the land and oceans by 2030 – up from 16 per cent and about 10 per cent, respectively, now.

This goal looks achievable, with backing from more than 100 nations in the intergovernmental High Ambition Coalition for Nature and People. But only Thailand and the Philippines are among the supporters from Asean.

COP15 also aims to agree on new sources of finance to fund conservation and tackle the tricky issue of eliminating or repurposing of harmful subsidies and other incentives, such as government funds to support the fishing and agriculture sectors.

Investments into protecting and better managing the world’s ecosystems need to reach US$384 billion a year by 2025, more than double their current levels, the UN said in a report last Thursday. This could be partly met by repurposing an estimated US$500 billion in annual government subsidies or incentives that are harmful to nature. Fossil fuel subsidies are hundreds of billions of dollars more.

Dr Cooper said that while COP15 might achieve agreement on the 2030 conservation targets, potential sticking points remain on the flow of financial resources, fully addressing the drivers of biodiversity loss, and enshrining the rights of indigenous communities, which own and manage large areas of biodiverse forests and other key areas.  

And even if COP15 ends in a comprehensive agreement, will it be ambitious enough? “Is it going to be enough to actually bend the curve of biodiversity loss?” he added.

Conservation group WWF International said a good outcome from COP15 will help address climate change, pandemics, global food security and other threats.

“Nature is declining at an unprecedented rate and we have already lost half of the forests, half of the coral reefs, 80 per cent of the wetlands,” Mr Marco Lambertini, director general of WWF International, told a media briefing, describing Montreal as “an unmissable chance” to secure an ambitious global biodiversity agreement.

Setting new targets for COP15 could also help South-east Asia’s efforts to protect nature and fight climate change.

South-east Asia is home to the third-largest rainforest basin in the world, and is also rich in coastal habitats such as mangroves, said Professor Koh Lian Pin, director of the National University of Singapore’s (NUS) Centre for Nature-based Climate Solutions.

“Achieving the aims of the CBD will not only help to protect the diverse and unique wildlife in our region, but also ensure that these carbon-rich natural habitats continue to help in the global effort to tackle climate change,” he said.

Failure means growing risks for Asia, with the negative impacts of nature destruction and biodiversity loss felt especially by poor communities, said Associate Professor Roman Carrasco from the NUS Department of Biological Sciences. These include declining fisheries and crop failures, as well as physical threats such as increased floods and landslides.

“South-east Asia is of paramount importance for global terrestrial and aquatic biodiversity conservation. A new set of goals to conserve and restore nature will be critical for our region to preserve its unique natural riches. In addition, healthy ecosystems will strengthen the resilience of our region against climate change, boosting our food security and economies,” he said.