Earth Equity News

The Planet is Barreling Toward Ecological 'Credit Crunch'. BBC, October 29, 2008. "The planet is headed for an ecological 'credit crunch,' according to a report issued by conservation groups. The document contends that our demands on natural resources overreach what the Earth can sustain by almost a third. Living Planet Report 2008 [PDF, 48 pp] is the work of WWF, the Zoological Society of London and the Global Footprint Network. It says that more than three quarters of the world's population lives in countries where consumption levels are outstripping environmental renewal. This makes them 'ecological debtors,' meaning that they are drawing -- and often overdrawing -- on the agricultural land, forests, seas and resources of other countries to sustain them. The report concludes that the reckless consumption of 'natural capital' is endangering the world's future prosperity, with clear economic impacts including high costs for food, water and energy. The report shows the US and United Arab Emirates have the largest ecological footprint per person, while Malawi and Afghanistan have the smallest. 'If our demands on the planet continue to increase at the same rate, by the mid-2030s we would need the equivalent of two planets to maintain our lifestyles,' said WWF International director-general James Leape."