Nature's 'budget' used up

In just over seven months, humanity has used up a full year's allotment of natural resources such as water, food and clean air -- the quickest rate yet, according to a new report.

The point of "overshoot" was officially reached on Monday, said environmental group Global Footprint Network -- five days earlier than last year.

"We continue to grow our ecological debt," said Pascal Canfin of green group WWF, reacting to the annual update on Sunday.

"From Monday August 8, we will be living on credit because in eight months we would have consumed the natural capital that our planet can renew in a year."

The gloomy milestone is marked every year on what is known as Earth Overshoot Day. In 1993, the day fell on October 21, in 2003 on September 22 and last year on August 13.

In 1961, according to the network, humankind used only about three-quarters of Earth's annual resource allotment. By the 1970s, economic and population growth sent Earth into annual overshoot.

"This is possible because we emit more carbon dioxide into the atmosphere than our oceans and forests can absorb, and we deplete fisheries and harvest forests more quickly than they can reproduce and regrow," the network said in a statement.