Negotiators at the UN Biodiversity Conference are poised to hold last-minute talks ahead of a vote on new global conservation targets for 2030.

Delegates from countries and territories around the world are participating in COP15, which opened in the Canadian city of Montreal on December 7 and is due to end on Monday.

The agenda includes how to restore species on the brink of extinction, how to protect wildlife, and whether to set a target of conserving at least 30 percent of the Earth's land and oceans.

Developing countries want a new fund to be established for conservation programs. But developed nations insist that existing funding mechanisms be used.

A similar disagreement came to light at the UN climate change conference, or COP27, in Egypt last month.

At the time, developed nations made concessions to developing countries, agreeing to set up a new fund to help vulnerable states cope with climate disasters.

But developed nations that are hoping to avoid further financial contributions are increasingly cautious this time.

A compromise proposal has emerged to create a new fund dedicated to biodiversity protection inside an existing funding framework designed to support conservation initiatives in developing countries.