He hopes with grassroots support from land owners, residents, Otakou runaka and other organisations, the concept could be promoted to local and national government.
However, there was a catch, he said. New Zealand was not a partner to the Unesco biosphere reserve programme and would need to become one before the peninsula idea could go ahead.
It was something he planned to take up with the Government, Mr Peat said.
Mr Peat, a former regional councillor and peninsula resident, first proposed a scenario outlining greater protection of the landscape of the peninsula, including stronger protection values, at the Yellow-eyed Penguin Trust symposium last October, promoting the idea of achieving World Heritage status.
Since then, the Dunedin City Council had bought the Harbour Cone farm.
He now believed the biosphere concept would be more suitable for the peninsula because it was about finding a balance between human use and nature in a defined area whereas, in New Zealand, World Heritage status applied to areas still largely natural or minimally developed
or modified, he said.
"A biosphere reserve . . . is about enhancing nature where people live and work and recreate.
"And it could work on Otago Peninsula.''
There were more than 500 biosphere reserves in the world, in 105 countries, with Australia having 15, including Melbourne's Mornington Peninsula.
But to be successful on the peninsula, the impetus needed to come from the grassroots, he said.
He suggested the first step could be working towards Mainland Island status, which would enable protection of flora and fauna through pest control measures, such as eradicating possums.
Also, more protective land-use measures could be advocated during the next review of Dunedin City Council's district plan, he said.
"There needs to be a set of landscape protection rules that keeps subdivision development, houses, buildings and other structures away from the expanses of farmland, the clean skylines and the cliff edges with water views in the direction of Chile.''
At the recent Otago Peninsula Trust annual meeting, he told members the basis existed for international recognition of Otago Peninsula "if we get ourselves organised''.
"Such a reserve would do more than enhance natural values: it would promote a general greening of the peninsula.''
The concept of international recognition for the peninsula was warmly received by trust members, he said.