Incorporating local nature-based cultural values into biodiversity No Net Loss strategies

•Cultural heritage is central to people’s wellbeing in areas altered by development.•It’s importance to wellbeing revealed geographical and socio-demographic variation.•Compensation may be unfeasible as natural sites of high spiritual value are unique.•Not accounting for cultural heritage in NNL strategies can undermine wellbeing.•Considering cultural values assists with designing more equitable NNL strategies.