Some fundamental choices that the international community must now face in order to protect and develop the seriously deteriorated (and deteriorating) world natural environment are offered. Institutional and financial guidelines for ecological conservation and development are presented. The idea of creating a multilateral institution aiming to: assess the priority needs of the earth′s ecosystem; identify the investments necessary to restore the earth′s ecological equilibrium; supervise and co‐ordinate environmental policies in member countries; and raise the needed investment funds, is discussed.