Humanity's resource security is at stake.
Taking into account the latest scientific data, Global Footprint recalculates each year the date of the "day of the exceedance" for the past years since this "ecological deficit" began to emerge in the early 1970s.
"If indeed we depend on the material world, and if indeed we are depleting our natural capital while the social, human and built-infrastructure capital are increasing - all of which depend on natural capital to operate - the ultimate outcome sadly becomes all too clear", said Mathis Wackernagel, founder and CEO of Global Footprint Network. For the rest of the year, humanity is "living on credit".
Different countries also have different Earth Overshoot Days, depending on how ecologically-friendly they are.
"To meet our needs, today we need the equivalent of 1.7 planet", say they.
The Global Footprint Network has identified two areas in which significant improvements can be made: carbon and food. The Ecological Footprint also can be scaled for cities and even individuals with an online calculator.
A number of politicians, universities and businesses have also committed to adopting the goals of the Paris Climate Accord, following President Trump's decision to withdraw the USA from the agreement on June 1.
For example, cutting food waste could move Earth Overshoot Day back seven days by 2050. For instance, in 2007, Earth Overshoot Day fell on August 15, and in 1997, it arrived on September 30.
Just this year, China set a goal to reduce meat consumption 50 percent by 2030.
Last year, there was much optimism that the Paris Climate Agreement, signed by 200 countries committing to cut carbon emissions would begin the journey towards bringing humanity back within its limits, however, this seemed to have been thrown into jeopardy by President Trump's decision to pull the U.S. out of the deal earlier this year.
"Indeed, we need economic policies and mechanisms to be aligned with the emerging recognition of planetary boundaries if we're serious about creating a sustainable world".