Implementation Gap between the Theory and Practice of Biodiversity Offset Multipliers

Emerging policies worldwide require biodiversity gains as compensation for losses associated with economic development, seeking to achieve “no net loss” (NNL). Multipliers – factors by which gains are larger than associated losses – can be crucial for true NNL. Here, we review the theoretical literature on multipliers. Then, we collate data on multipliers implemented in practice, representing the most complete such assessment to date. Finally, we explore remaining design gaps relating to social, ethical, and governance considerations. Multiplier values should theoretically be tens or hundreds when considering, for example, ecological uncertainties. We propose even larger multipliers required to satisfy previously ignored considerations – including prospect theory, taboo trades, and power relationships. Conversely, our data analyses show that multipliers are smaller in practice, regularly