Biodiversity offsets are increasingly adopted to mitigate the negative impacts of development activities on biodiversity. However, in practice, there are inconsistencies in how biodiversity offsets are understood and implemented. Based on interviews with environmental practitioners, the study sought to explore the conceptual understanding of biodiversity offsets among personnel involved in the design and implementation of offset schemes in Uganda. The study employed a ‘technical use analysis’ to seek personal interpretation and operationalization of the concept of biodiversity offsets. The results revealed that the concept tends to be simplified and adjusted to individual, project, and country contexts. The respondents had varied perceptions of biodiversity offsets in practice as compared to the theoretical concept. Biodiversity offsets were classified under five terms: trade-offs, payments, substitutes, compensations, and mitigation measures. The terms were derived from perceived inability of the measure to attain no net loss, and similarities of biodiversity components and services across impact and offset sites. Biodiversity offsets were thus considered no different from ordinary environmental conservation measures, contributing nothing unique to the conservation agenda. The study concludes that widespread implementation of biodiversity offsets under prevailing perceptions will escalate biodiversity loss. The study recommends emphasis on attaining no net loss through implementing outcome-based offsets as opposed to purpose-based offsets, that require delivering of ‘no net loss’ gains prior to projects being considered biodiversity offsets.