World consumption plunges planet into 'ecological debt'

Consumption exceeds Earth’s annual ‘biocapacity’ today amid warnings of dependence on overseas food and energy

Rich consumers are still voraciously gobbling up the world’s resources, despite the worst recession in a generation, with their appetite pushing the planet into “ecological debt” from today , according to a report by think-tank the new economics foundation.

This “ecological debt day” marks the point in the year when consumption around the world exceeds the Earth’s annual “biocapacity”

Andrew Simms, nef’s director, said the deep recession had delayed this “ecological debt day” by only 24 hours compared with last year, when it fell on 24 September. He warned that as G20 leaders gather in Pittsburgh to discuss global finance, there is a risk that the world economy will be kick-started again, without learning the lessons of the “consumption explosion”.

“Debt-fuelled over-consumption not only brought the financial system to the edge of collapse, it is pushing many of our natural life support systems toward a precipice. Politicians tell us to get back to business as usual, but if we bankrupt critical ecosystems no amount of government spending will bring them back,” he said.

Guardian