Humanity will soon define a new era for nature – one that seeks to correct decades of underwhelming responses to the global biodiversity crisis. Area-based conservation efforts, which include both protected areas and other effective area-based conservation measures, are likely to extend and diversify. But persistent shortfalls in ecological representation, management effectiveness and measurable biodiversity outcomes diminish the potential role of area-based conservation in stemming biodiversity loss. Here we show how protected area expansion by governments since 2010 has had limited success in increasing biodiversity coverage, and identify four emergent issues that –if addressed – will enhance the performance of area-based conservation post-2020. We close with recommendations for a broad biodiversity agenda that maximises the potential of area-based conservation. Parties to the Convention on Biological Diversity must recognise that area-based conservation primarily focuses on local threats to species and ecosystems, and needs enhanced emphasis on biodiversity outcomes to better track and fund its contribution to global conservation efforts.