Protected area downgrading, downsizing, and degazettement (PADDD) is a common occurrence. Although PADDD is expected to weaken biodiversity protection, PADDD offsets and new unrelated protected areas (PAs) could help restore representation of biodiversity features to the reserve network affected by PADDD. Globally, we analyzed 16 territories with terrestrial PADDD and 4 territories with marine PADDD from 2011 to 2020. Our objective was to evaluate whether PADDD offsets and new PAs could restore the PAs, key biodiversity areas (KBAs), ecoregions, and threatened amphibian, mammal, bird, and reptile species ranges where PADDD had occurred. In our studied territories, offsets of PADDD were rare (enacted in 3 [19%] terrestrial territories and one [25%] marine territory). One territory had PADDD losses that were compensated fully by PADDD offsets in terms of area coverage and ecoregions represented. All other territories failed to achieve compensation goals. In territories affected by PADDD, PADDD offsets and new PAs partially restored area representation (63%) and KBA coverage (57%). However, only 38% of ecoregion representation and 20%, 33%, 31%, and 21% of threatened amphibian, mammal, bird, and reptile representation, respectively, were restored. Overall, we found a large shortfall in PADDD offsets, even when unrelated PAs were included in the calculus. There is an urgent need to expand PADDD offsets and PAs to advance biodiversity conservation and achieve the Global Biodiversity Framework's 30×30 target. Future planning of newly enacted conservation areas needs to prioritize biodiversity conservation and consider the purpose of restoring reserve networks affected by PADDD, rather than solely focusing on areal targets.