Ecological Debt Day
Ecological Debt Day is also known as “Earth Overshoot Day“.
The Ecological debt date refers to the calendar date in which the total resources consumed by humanity will exceed the capacity for the Earth to generate those resources that year.
It is arrived by dividing the world biocapacity, the number of natural resources generated by the earth that year, divided by the world Ecological Footprint, humanity’s consumption of the Earth’s natural resources for that year, and multiplied by 365. It is shown in the following formula:
World biocapacity ÷ World Ecological Footprintx365 = Ecological Debt Day
The first Ecological Debt Day was observed on December 19, 1987.
Latest Ecological Debt Day was observed on August 21, 2010.
Before that date, humanity’s consumption of the Earth’s natural resources was outweighed by the Earth’s ability to regenerate its resources in that particular year.
How does it work?
In 2010, August 21 was seen as the Ecological Overshoot Day or Ecological Debt Day. This means that the from that day onwards till the end of year, the humanity enters deficit spending .
Who decides the Ecological Debt Day?
The New Economics Foundation (NEF), which is an independent British think-tank, marks the Ecological Debt Day.