We are running down our natural capital. Each year ends with the Earth having less forest, less biodiversity, less healthy soil and water, fewer fish in the sea, more pollution of our fresh water and more greenhouse gases blanketing the planet, heating it and destabilising the climate.

Listen to this article 9 min Listen to this article 9 min Earth Overshoot Day is the date when humanity's demand for the Earth's resources and services exceeds what the Earth can supply in a given year.

The Global Footprint Network calculates the date each year by comparing the resource demand of individuals, governments and businesses against Earth's capacity for biological regeneration.

advertisementDon't want to see this? Remove adsThis year's Earth Overshoot Day falls on 1 August 2024, which means that humanity is currently using nature 1.7 times faster than our planet's ecosystems can regenerate. It is like using 1.7 Earths.

This tells us we are not "living on our income" but running down our natural capital. Each year ends with the Earth having less forest, less biodiversity, less healthy soil and water, fewer fish in the sea, more pollution of our fresh water and more greenhouse gases blanketing the Earth, heating it and destabilising the climate.

By running down our natural capital, we pass on a weakened and less resilient planet to the generations that follow us. In other words, we are making future generations pay for our extravagance.

In 1971, Earth Overshoot Day fell...