The treaty has been described as “the most important ocean protection agreement in four decades”. It aims to protect 30% of the world’s oceans – 11 square kilometers – by 2030 and will provide a legally binding mechanism to protect the high seas – areas beyond national jurisdictions, more than 200 nautical miles away from the coast. A group of more than 50 countries, known as the High Ambition Coalition, pledged last year to protect 30 percent of the planet’s land and seas by 2030. But without an agreement, those commitments have no legal basis on the high seas, which cover nearly half of the earth’s surface and account for two-thirds of the world’s oceans. The latest negotiations lasted two weeks and failed to reach an agreement despite progress made in the last 48 hours. Conservation groups have warned that the latest failure of talks meant time is running out to protect the world’s oceans and marine biodiversity. A further round of negotiations will be necessary and unless an emergency meeting is convened, the treaty is unlikely to be finalized in 2022, Greenpeace said. “Time is up,” Greenpeace’s Laura Meller said in a statement. “Failure to reach a treaty in these talks puts the livelihoods and food security of billions of people around the world at risk. “Members of the High Ambition Coalition and countries like the US have moved too slowly to find compromises, despite their commitments,” he said. The World Wide Fund for Nature said it was concerned that a delay in reaching a global treaty would “further erode the declining health of the oceans”. “The high seas play a vital role in supporting fisheries, providing habitat for hundreds of thousands of species and mitigating the effects of climate change,” WWF said in a statement. “Much progress has been made in the draft text, with provisions ensuring that we move away from the current situation where the high seas are open to all, towards shared management and collective responsibility, but the diplomatic deal is not done until everything is agreed.” Subscribe to Guardian Australia’s Morning Mail Our Australian morning news email breaks down the key national and international stories of the day and why they matter Privacy Notice: Newsletters may contain information about charities, online advertising and content sponsored by external parties. For more information, see our Privacy Policy. We use Google reCaptcha to protect our website and Google’s Privacy Policy and Terms of Service apply. WWF International director-general Marco Lambertini said other UN member states should support the treaty. “The high seas epitomize the tragedy of the commons,” he said. “Because they ‘belonged’ to no one, they were treated with reckless impunity. We need a common governance mechanism for our ocean to ensure that no one’s waters become everyone’s waters – and everyone’s responsibility.” Jessica Battle, senior global ocean governance and policy expert at WWF, said in a statement: “These delays have real consequences for people and nature. “We call on leaders and the United Nations to do the work necessary to get a treaty done as a matter of urgency,” Battle said. “The ocean can’t wait.” The Australian Associated Press contributed to this report.