(BSS/AFP) - Nations are not on track to meeting a historic pledge to protect 30 percent of the world`s land and oceans by 2030, a new study said Wednesday.

The findings follow a similar assessment by the United Nations and come ahead of a global summit in Armenia where nations will review progress toward the biodiversity targets.

The "30x30" goal was the centrepiece of a landmark pact reached in 2022 by nearly 200 nations that was informally dubbed the "Paris Agreement for nature".

But rhetoric had not been followed by action, said a report by environmental groups Campaign for Nature and Together for the Ocean.

"Governments have already demonstrated that rapid progress is possible, but the world is not yet on track to achieve 30 percent coverage," Campaign for Nature director Brian O`Donnell told reporters.

If governments delivered their commitments in full, the amount of land and inland waters designated as protected or conserved could reach 27 percent by 2030, the report said.

But oceans might only reach 12 percent coverage by the end of the decade.

In a statement last month, the Convention on Biological Diversity, the UN treaty that oversees the global nature goals, also warned that countries were off track.

- Missing money -

Money for conservation is one of the biggest barriers.

The report`s authors estimated that between $100 billion and $180 billion was needed every year to reach the 2030 target -- but annual spending lagged at roughly $24 billion.

"The gap is particularly stark for the ocean, where approximately $16 billion is needed annually but only an estimated $1.8 billion is currently spent," the report said.

Much of the funding would be needed in developing countries, which host many of the world`s richest ecosystems but lack the means to properly defend these biodiversity hotspots.

O`Donnell said governments would need to dig deeper into their budgets but could also legislate to require that polluting industries -- such as fossil fuel and mining companies -- contribute to conservation.

"They`re not going to do that voluntarily," he said.

He said the 30x30 goal "remains achievable" but not without a big lift.

"We don`t want to sugarcoat this and say, this will not be without a challenge," he said.

The biodiversity pact committed nations to halting and reversing nature loss by 2030, including by meeting the 30x30 target, cutting pollution and restoring ecosystems.

The UN biodiversity summit in Yerevan, starting October 19, is the first time nations will address the progress shortfall and discuss how to get the targets back on track.