The ocean is home to most animal life on Earth. It’s also vital to human survival, regulating the climate, capturing 90 percent of the heat caused by carbon emissions, and producing 50 percent of the Earth’s oxygen. But most of the ocean is poorly regulated, amounting to a free-for-all of resource extraction — from commercial fishing to drilling for oil — that severely damages the marine ecosystems we all depend on.

Now, world governments are inching closer to the most decisive step ever to safeguard the ocean’s future. The United Nations High Seas Treaty, which was drafted last March and will take effect once 60 countries ratify it, aims to protect 30 percent of the ocean by 2030. It particularly focuses on the part of the ocean that is currently least protected, the high seas, which make up about two-thirds of the ocean and are defined as any area beyond 200 nautical miles off of a country’s coast.

The treaty intends to create “marine protected areas,” or MPAs, a legal designation that would regulate and limit the kinds of extractive activities that can happen within the high seas. Once ratified, participating governments would designate MPAs — ideally prioritizing protecting areas rich in biodiversity — and compliance would be monitored by a central body formed under the treaty.

Yet MPAs are also highly limited. Though they sound like a kind of Yellowstone in the sea, they can perhaps be better thought of as “protected in name only,” as Vox’s Benji Jones put it last year, because commercial fishing, oil drilling, and mining will still happen in these areas. Instead, MPA regulations hope to prevent the worst injustices against humans and animals, while the revenue generated from permitted activities — which could range from recreational diving and fisheries to mining and drilling — would then partially pay the management fees for these zones.

Another major goal of the UN High Seas Treaty is promoting the equitable sharing of ocean resources, such as new genetic discoveries that can help advance medicine, between high- and low-income countries. It also aims to create a more regulated ocean economy, with some nations able to pay off national debt if they agree to protect certain areas.

Some management is better than the usual way of doing business in the high seas — a lawless place where nations do not have jurisdiction, horrors like slavery on industrial fishing vessels are common, and ocean trawlers catch and often kill billions of pounds of bycatch (unintentionally captured creatures like dolphins, whales, and turtles) every year.

A deeper look, however, into the proposed management in Marine Protected Areas complicates its image as a conservation solution. The crux of it all is the trade-off between making a profit and fully protecting the ocean. We can’t have both.

There’s a lot of money to be made in exploiting the ocean in the short term. But thinking solely of short-term profit will cost us more down the line, even in purely economic terms. The ocean economy — encompassing industries like fishing, maritime shipping, and oil drilling — generates nearly $3 trillion of global GDP every year, and its worth is estimated at $24 trillion. Its stability depends on making conservation a priority now, rather than extracting more from the ocean than it can bear.

The High Seas Treaty’s 30 percent target for turning the ocean into protected areas is just a starting point if we want to conserve oceans and the future of life on Earth. But proposed regulation needs teeth. Figuring out what activities should and should not be allowed in MPAs is a broad and tough conversation about what we think the true value of the ocean is.