Currently, between one-third and two-thirds of marine species may be undescribed, and previous estimates of there being well over one million marine species appear highly unlikely. More species than ever before are being described annually by an increasing number of authors. If the current trend continues, most species will be discovered this century.

Some people despair that most species will go extinct before they are discovered. However, such worries result from overestimates of how many species may exist, beliefs that the expertise to describe species is decreasing, and alarmist estimates of extinction rates. We argue that the number of species on Earth today is 5 ± 3 million, of which 1.5 million are named. New databases show that there are more taxonomists describing species than ever before, and their number is increasing faster than the rate of species description. Conservation efforts and species survival in secondary habitats are at least delaying extinctions. Extinction rates are, however, poorly quantified, ranging from 0.01 to 1% (at most 5%) per decade. We propose practical actions to improve taxonomic productivity and associated understanding and conservation of biodiversity.

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B iodiversity and the many ecosystem functions and services it underpins are undergoing significant and often rapid changes worldwide 1. A range of global initiatives and policy frameworks, including the Convention on Biological Diversity (CBD) and Sustainable Development Goals (SDGs), have aimed to reduce this change and to halt the loss of biodiversity, with limited progress to date 2. Appropriately gauging the impact of such policies or the progress toward international biodiversity goals has a key requirement: the availability of information on the status and trends of biodiversity in a form that is easily understood, timely, scientifically rigorous, standardized, relevant, global and representative of species populations across taxa and regions over time. Such information is particularly crucial in assessments, such as those carried out by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) 3 , and is needed to construct 'indicators' , which are aggregate measures that often address specific conservation targets 4,5. Underpinning such metrics are core, essential measurements known as EBVs, which capture key constituent components of biodiversity change 6,7 , akin and complementary to the 'essential climate variables' supporting climate change assessment and policy 8. Facilitated by the Group on Earth Observations Biodiversity Observation Network (GEO BON, http://geobon.org) and related efforts, the biodiversity science and observation community is now engaging in an effort to conceptualize and formulate these essential biodiversity components to enable more focused, integrated, and effective biodiversity monitoring in support of assessment and policy within a unified framework. This study represents the formal outcome of a process undertaken from 2015 through 2018 by the founding members of the GEO BON Species Populations Working Group 9 , which includes the authors of this Perspective, charged with providing the formal definitions, conceptualizations and recommendations addressing species distribution and abundance EBVs. Changes in species distribution and abundance affect all biodiversity facets 10 , including the loss of potentially significant traits and functions 1,11 and associated ecosystem consequences 12,13. Patterns of spatial distribution and changes to these patterns inform us about the commonness, rarity and potential extinction risk for species 14-16 , determine the national and regional stewardship of species and are key to ensuring effective monitoring 17 , protection 18,19 and population

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