Biodiversity offsets (BOs) are increasingly used as economic instruments to manage biodiversity and ecosystem services in the context of economic development. This study investigates the sustainability conditions of BOs. It focuses especially on both the timing and pricing of BOs in development-offset projects. To address this issue, a minimal time control model is proposed, allowing a dynamic and multicriteria approach to be combined through both ecological and economic targets. We rely here on no net loss (NNL) and positive net present value (NPV) goals. In particular, we focus on an offset marginal price, called offset sustainability price (OSP), which equalizes the NNL and payback times. We prove analytically how this OSP pricing corresponds to a win–win solution in terms of ecological-economic synergy. We also show that this OSP pricing can be very high compared to the project rate of return, particularly when the biodiversity loss is high. More globally, a static comparative analysis shows the extent to which the economic and biodiversity parameters impact the OSP. Finally, a numerical application related to mangroves and aquaculture in Madagascar illustrates the analytical findings. For this case study, we argue that the current BO price is underestimated.

中文翻译：

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当盈利能力通过生物多样性补偿满足保护目标时

生物多样性补偿（BO）越来越多地被用作经济工具，在经济发展的背景下管理生物多样性和生态系统服务。本研究调查了 BO 的可持续性条件。它特别关注开发抵消项目中 BO 的时机和定价。为了解决这个问题，提出了一个最短时间控制模型，允许通过生态和经济目标结合动态和多标准方法。我们在此依赖于无净损失 (NNL) 和正净现值 (NPV) 目标。我们特别关注抵消边际价格，称为抵消可持续性价格 (OSP)，它使 NNL 和投资回收时间相等。我们分析证明了这种 OSP 定价如何对应于生态经济协同效应的双赢解决方案。我们还表明，与项目回报率相比，这种 OSP 定价可能非常高，特别是当生物多样性丧失严重时。在全球范围内，静态比较分析显示了经济和生物多样性参数对 OSP 的影响程度。最后，与马达加斯加红树林和水产养殖相关的数值应用说明了分析结果。对于本案例研究，我们认为当前的 BO 价格被低估。