A U.N. biodiversity conference aims to address a simple problem: "We are destroying life on Earth," said the head of the U.N. Environment Program.

The world cannot afford to allow nature's riches to disappear, the United Nations said on Monday at the start of a major meeting to combat losses in animal and plant species that underpin livelihoods and economies. The U.N. cited the worst extinction rate since the dinosaurs vanished 65 million years ago, saying it's a crisis that needs to be addressed by governments, businesses and communities.

A U.N.-backed study this month said global environmental damage caused by human activity in 2008 totaled $6.6 trillion, equivalent to 11 percent of global gross domestic product. [ FOX NEWS ]