The world is on track to lose an estimated $39 trillion in economic value by 2050 due to the rapid destruction of wetlands, according to a major report released Tuesday by the Convention on Wetlands.

Since 1970, approximately 22% of the world’s wetlands have disappeared, the report found, marking the fastest rate of decline among all ecosystems. These include both freshwater wetlands, such as rivers, lakes, and peatlands, as well as coastal systems like mangroves and coral reefs.

The loss is driven by multiple pressures, including land-use change, pollution, expanding agriculture, invasive species, and the worsening effects of climate change, such as rising sea levels and prolonged droughts.

“The scale of loss and degradation is beyond what we can afford to ignore,” said lead author Hugh Robertson.

Wetlands provide essential services, ranging from water purification and flood regulation to carbon storage—functions that are increasingly critical in the context of intensifying tropical storms and global warming. They also underpin major sectors including fisheries and agriculture, and offer important cultural benefits.

So far, 411 million hectares of wetlands have been lost—an area roughly equal to half a billion football fields. One in four of the remaining wetlands is now considered degraded.

The report called for global investment of between $275 billion and $550 billion annually to protect and restore these ecosystems, warning that current funding levels are significantly inadequate.

Its release precedes next week’s meeting of the Convention’s 172 member states in Victoria Falls, Zimbabwe. The triennial summit will review progress under the international agreement, signed in 1971, to safeguard wetland habitats. However, the attendance of all signatories, including the United States, China, and Russia, remains uncertain.

While Africa, Latin America and the Caribbean face the most severe losses, wetland deterioration is also accelerating in Europe and North America. Restoration projects are ongoing in countries such as Zambia, Cambodia and China, the report noted.