Abstract:

Aims: Within nature reserves governed by a public finance–dominated institutional framework, biodiversity offsetting has emerged as a market-based instrument that offers an innovative solution to the persistent funding tension between conservation and development. Drawing on the analytical perspectives of natural capital theory and institutional economics, this study systematically examines the theoretical foundations and operational mechanisms of biodiversity offsetting. The objective is to clarify the internal logic and practical pathways for establishing biodiversity offset markets, thereby contributing to the development of sustainable operational models and long-term strategies for nature reserves. 

Methods: This study employs an integrated analytical framework that combines natural capital theory with institutional economics to systematically explore the theoretical underpinnings and operational mechanisms of biodiversity offsetting. 

Results: The findings indicate that biodiversity offsetting, as a market-based instrument for reconciling conservation and development objectives, has evolved into a critical pathway for the monetization of natural assets and has provided valuable reference frameworks for international practice. The establishment of biodiversity offsetting mechanisms within protected areas can effectively promote the realization of value from biodiversity offset products. 

Conclusion: The realization of biodiversity offsetting value in protected areas can be achieved through the application of robust scientific cost–benefit analysis frameworks, the targeted development of biodiversity offset products, and the construction of dedicated trading platforms. Moreover, fostering the deep integration of biodiversity offsetting mechanisms with the sustainable development goals of protected areas is essential for ensuring their long-term viability.

Key words: nature reserves, biodiversity offsetting, theoretical framework, operational mechanisms