'risk X' is a risk, and 'reducing risk X' is a field.
There is the (meta-)risk that you harm a field (the 'harming field Y' risk).
They're studying that (meta-)risk here, in an attempt to reduce it. The article is thus squarely in the 'reducing risk Z (of harming field Y (of reducing risk X)))' field.
Your misunderstanding of it poses certain risks, that this comment attempts to reduce, with a concomitant risk of failure, but that gets a bit complicated.
> They are talking about 'reducing extinction risk' being a field of study. And the risks of doing damage to a that new field with early research.
Then this is an unfortunately named field to introduce first, given that the article is about 'risks' which are not 'fields'