A think tank called the Global Footprint Network calculates the planet's overshoot day every year to show how humans are using up Earth's resources faster than they can be replenished.
According to their calculations, humans have already used up all of the Earth's renewable resources for the year. Each year since then has seen it arrive earlier and earlier, with August 1, 2018 - today - marking the earliest it's ever arrived.
"Operating in this reality requires creativity and innovation, and companies must rise to the challenge by looking at how to manage natural resources differently, how to measure them more accurately, and how to develop products and processes that use them more efficiently", said Susan Uthayakumar, President, Schneider Electric Canada.
According to the GFN, "One year is no longer enough to regenerate humanity's annual demand on the planet, even using conservative data sets".More news: NVIDIA announces GeForce Gaming Celebration ahead of Gamescom 2018 with spectacular surprises
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For the rest of the year, we're pushing Earth farther than it can go. "But fires are raging in the Western United States and in Cape Town, South Africa, residents have had to slash water consumption in half since 2015". GFN said it takes 14 times more land to produce a ton of beef than a ton of grain, while pork production requires 1.9 times more.
They include reducing driving in cities, replacing vehicle trips with public transport, walking and biking, cutting carbon from energy production, reducing food waste by half, making diets more sustainable, and reducing the number of children families have.
We keep growing in numbers and it's a controversial thing to tell families not to have children, but the report says that if every other family had one less child, the date would move back 30 days by 2050. The EF per person in China also fell by 0.8 percent. To do so, it uses 15,000 data points collected by the United Nations for each country starting with 1961.
The Breakthrough Institute argued that the entire overshoot is actually human emissions of carbon beyond what the ecosystem can absorb.