We face an ecological credit crunch far greater than the global financial crisis, warn leading environmental groups.
In the latest , , the and the say the Earth鈥檚 natural resources are being depleted so quickly that the equivalent of two planets would be required to sustain current lifestyles by the mid-2030s.
鈥淲e are acting ecologically in the same way as financial institutions have been behaving economically 鈥� seeking immediate gratification without due regard for the consequences,鈥� says Jonathan Loh of the Zoological Society of London, comparing the cost of human pollution, deforestation, over-fishing and land conversion to the recent credit crunch.
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鈥淭he consequences of a global ecological crisis are even graver than the current economic meltdown,鈥� he says.
鈥楤old action鈥� needed
The report finds that more than three quarters of the world鈥檚 population lives in countries whose consumption levels are outstripping environmental renewal. It warns that reckless consumption of 鈥渘atural capital鈥� is endangering the world鈥檚 future prosperity, with clear economic impacts, including high costs for food, water and energy.
WWF鈥檚 international director-general James Leape says world leaders must put ecological concerns at the top of their agenda and ensure the environment is factored into all decisions about consumption, development, trade, agriculture and fisheries management.
鈥淚f humanity has the will, it has the ways to live within the means of the planet, but we must recognize that the ecological credit crunch will require even bolder action than that now being mustered for the financial crisis,鈥� he says.
Emissions from fossil fuels are among the top culprits for placing excessive demands on the planet cited by the three environmental groups. Yet, these could be regulated by a successor to the Kyoto protocol, due to be agreed by member nations of the UN at the end of 2009.
The report鈥檚 conclusions echoed those of the UN Environment Programme鈥檚 fourth (GEO), published a year ago.
Planetary debt
According to the Living Planet Report, the world鈥檚 global environmental 鈥渇ootprint鈥� now exceeds the planet鈥檚 capacity to regenerate by 30%. Last year鈥檚 GEO-4 report said the human population needs 1.4 Earths to sustain the average lifestyle.
In 2002, WWF and its Living Planet Report partners found that humanity was overusing the Earth鈥檚 resources by 20% and that we would need two planets by 2050 (see Humanity鈥檚 massive overdraft with Earth).
The Global Footprint Network records the date humans go into planetary debt each year by using up the resources that Earth can regenerate in one year. In 2008, 鈥溾�� came on 23 September.
According to the latest report, the US and China have the largest national footprints. The picture is different, though, when China鈥檚 population of 1.3 billion is taken into account: per capita, the US and Australia rank among the five countries with the largest footprints, along with the United Arab Emirates, Kuwait and Denmark.
The lowest five nations are Bangladesh, Congo, Haiti, Afghanistan and Malawi. The only regions to remain within their 鈥渂iocapacity鈥� are non-EU Europe, Africa, Latin America and the Caribbean.
