Posted by: Dr Pano Kroko Churchill | August 20, 2013

Been a Sad Day…

Today is one of the saddest days of the year, because it is Earth Overshoot Day.

The day that humanity has exhausted all nature’s resources for one year.

It’s a day that comes earlier and earlier each year.

So from today until December 31st, everything we collectively consume is an overuse.

August 20 is Earth Overshoot Day 2013, marking the date when humanity exhausted nature’s budget for the year. We are now operating in overdraft. For the rest of the year, we will maintain our ecological deficit by drawing down local resource stocks and accumulating carbon dioxide in the atmosphere.

Just as a bank statement tracks income against expenditures, Global Footprint Network measures humanity’s demand for and supply of natural resources and ecological services. And the data is sobering. Global Footprint Network estimates that in approximately eight months, we demand more renewable resources and C02 sequestration than what the planet can provide for an entire year.

In 1993, Earth Overshoot Day—the approximate date our resource consumption for a given year exceeds the planet’s ability to replenish—fell on October 21. In 2003, Overshoot Day was on September 22. Given current trends in consumption, one thing is clear: Earth Overshoot Day arrives a few days earlier each year.

Earth Overshoot Day, a concept originally developed by Global Footprint Network partner and U.K. think tank new economics foundation, is the annual marker of when we begin living beyond our means in a given year. While only a rough estimate of time and resource trends, Earth Overshoot Day is as close as science can be to measuring the gap between our demand for ecological resources and services, and how much the planet can provide.

Throughout most of history, humanity has used nature’s resources to build cities and roads, to provide food and create products, and to absorb our carbon dioxide at a rate that was well within Earth’s budget. But in the mid-1970s, we crossed a critical threshold: Human consumption began outstripping what the planet could reproduce.

According to Global Footprint Network’s calculations, our demand for renewable ecological resources and the services they provide is now equivalent to that of more than 1.5 Earths. The data shows us on track to require the resources of two planets well before mid-century.

The fact that we are using, or “spending,” our natural capital faster than it can replenish is similar to having expenditures that continuously exceed income.

In planetary terms, the costs of our ecological overspending are becoming more evident by the day.

Climate change—a result of greenhouse gases being emitted faster than they can be absorbed by forests and oceans—is the most obvious and arguably pressing result.

No long term capital left here.

No value Investor would withstand this loss…

It simply is an economic nightmare.

A real bankrupcy because the Environmental Debt can never be repaid.

Been a Sad freaking day…

Yours,

Pano

PS:

But there are other results much more immediately damaging.

Our shrinking forests, the massive species loss, fisheries collapse, higher commodity prices for staple foodstuffs, and maladies of the political spectrum from civil unrest, to massive climate migration and civil wars are all upon is mow.

And this is just to name a few of the nasty nightmares resulting from Climate Change, because desertification, despeciation and the ecosystem collapse resulting in environmental and economic crises we are experiencing are symptoms of a much larger looming catastrophe to come…

Humanity is simply using more than what the planet can provide.


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