An ecological crunch which dwarfs the credit crunch

The Living Planet report calculates that humans are using 30% more resources than the Earth can replenish each year, which is leading to deforestation, degraded soils, polluted air and water, and dramatic declines in numbers of fish and other species. As a result, we are running up an ecological debt of $4tr (£2.5tr) to $4.5tr every year – double the estimated losses made by the world’s financial institutions as a result of the credit crisis.The problem is also getting worse as populations and consumption keep growing faster than technology finds new ways of expanding what can be produced from the natural world.

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