Eco ‘credit crunch’ warning - October 29, 2008
The World Wide Fund for Nature has released the latest of its Living Planet reports, where it rounds up just how badly we’re messing up the Earth. To give it a bit of edge, this year’s report is being compared to the financial crisis.
“The recent downturn in the global economy is a stark reminder of the consequences of living beyond our means. But the possibility of financial recession pales in comparison to the looming ecological credit crunch,” says James Leape, director general of WWF International (report pdf / press release).
The populations of 1,313 vertebrate species are tracked by the WWF’s Living Planet Index. Over the past 35 years these species have declined by a third. At the same time the report warns that our “global footprint” is now 30% bigger than the Earth’s capacity to regenerate.
“If our demands on the planet continue at the same rate, by the mid-2030s we will need the equivalent of two planets to maintain our lifestyles,” says Leape.
Below the fold: reaction from around the world.
The BBC says the report shows we’re heading for an “ecological credit crunch”. The US and the UAE are the most to blame, with the largest ecological footprint per person. Those living in Malawi and Afghanistan can feel pleased with having the smallest footprint.
The Daily Telegraph notes that the average Chinese person “has an ecological footprint equivalent to 2.1 hectares per person while an American needs 9.4 hectares and a Briton 5.3 hectares to support their lifestyle”. It also has a long-winded opinion piece from comedian and environmentalist Alistair McGowan.
CTV news notes:
About half of Canada's ecological footprint was the result of carbon released from transportation, heating and electricity production, which all contribute to climate change. The report also found Canada has the 12th largest water footprint, with the average Canadian consuming more than two million litres of water annually.
Australian newspapers are particularly fretful:
Nation of bigfoots: Australia falls in green ranking – The Age
Eco bigfoot no myth - just look in the mirror – SMH
Australians ranked among world's worst eco-offenders – The Australian
Image: NASA
Comments
While we all knew Australians were bad, I'm stunned at the rating giving to New Zealand!
And it's funny how everyone has it in the neck for the US, but look at who's ranked first and third.
Posted by: rpg | October 29, 2008 11:40 PM
What really is a credit crunch?
A credit crunch (also known as a credit squeeze or credit crisis) is a reduction in the general availability of loans (or credit) or a sudden tightening of the conditions required to obtain a loan from the banks. A credit crunch generally involves a reduction in the availability of credit independent of a rise in official interest rates. In such situations, the relationship between credit availability and interest rates has implicitly changed, such that either credit becomes less available at any given official interest rate, or there ceases to be a clear relationship between interest rates and credit availability (i.e. credit rationing occurs).
We are currently facing a severe one globally.
Posted by: Florentin Fonche | April 23, 2009 03:06 PM