Overdraft notice

Image via WikipediaEarth's Overdraft Notice

The Global Footprint Network has announced that Earth Overshoot Day is fast approaching:

This Saturday, we will reach Earth Overshoot Day: the day when human demand on nature surpasses what nature can renewably supply...as of August 21st, humanity will have demanded an amount of ecological resources equivalent to what it takes nature 12 months to produce. From now until the end of the year, we will meet our needs by liquidating stocks and accumulating greenhouse gasses in the atmosphere.

According to the Global Footprint Network humanity crossed a threshold three decades ago when we stopped being able to live off of nature's interest -- "consuming resources and producing carbon dioxide at a rate lower than what the planet was able to regenerate and reabsorb each year" -- and started living beyond nature's capacity. They call this gap between human demand and nature's supply "ecological overshoot" (a concept that was devised by the UK-based new economics foundation).

Problem with this overdraft? No returned checks or bank fees - the penalty for overdawing is much more "expensive."