HSBC issues an alarming warning that Earth is running out of the resources to sustain life..scared yet??

https://www.businessinsider.com.au/hsbc-warns-earth-is-running-out-of-resources-for-life-2018-8?r=US&IR=T

One of the world’s largest banks says the planet is running out of resources and warns that neither governments nor companies are prepared for climate change.

The world spent its entire natural resource budget for the year by August 1, a group of analysts at HSBC said in a note that cited research from the Global Footprint Network(GFN).

That means that the world’s citizens used up all the planet’s resources for the year in just seven months, according to GFN’s analysis.

“In our opinion, these findings and events show that many businesses and governments are not adequately prepared for climate impacts, nor are they using natural resources efficiently,” the HSBC analysts said in the note.

Many banks and asset managers have started factoring climate risks into their decision-making – a move spurred in part by former New York City Mayor Michael Bloomberg. But it’s far less common to see multinational banks sound the alarm about climate change so explicitly in their equity research.

To calculate Earth’s natural resource budget, GFN considers the demand for natural resources – which includes food, forests, and marine products – as well as humans’ effects on the environment from factors like carbon emissions. The combined total is designed give a comprehensive picture of humanity’s global footprint.

Earth Overshoot Day, the point in a year at which we use up a year’s worth of resources, has been steadily moving forward in time since GFN first started tracking it. In 1970, we “overshot” Earth’s resource budget by only 2 days – Overshoot Day fell on December 29, according to HSBC. That date has been pushed up by almost five months since then.

HSBC’s note also warned about extreme events resulting from heat, including the wildfires in Scandinavia and broken temperature records around the world.

“As scientists work on attribution analysis for specific events – the general consensus is that climate change is making these events more likely to occur and more severe,” HSBC said.

The predicted effects of climate change are starting to become real.Wildfires have torn through California in recent years, and they’re part of a worsening trend related to rising global temperatures. Other consequences include increased frequency of hurricanes andflooding, melting ice sheets, and greater numbers of heat waves.

Recent studies have shown that global temperatures by the year 2100 could be up to 15% higher than the highest projections from the Intergovernmental Panel on Climate Change.

According to HSBC, extreme events have severe economic and social costs.

“In our view, adaptation will move further up the agenda with a growing focus on the social consequences,” the analysts said.

https://www.businessinsider.com.au/what-is-earth-overshoot-day-2018-why-earlier-than-ever-2018-7

Earth Overshoot Day, which marks the moment our demand for natural resources exceeds what the planet can renew, falls on August 1 this year – the earliest it has ever been.

When calculating Earth Overshoot Day, the nonprofit Global Footprint Network considershow much food and other natural resources can grow in a year as well as how much carbon Earth can sequester. According to the nonprofit, resources are being consumed 1.7 times faster than they can regenerate. In other words, we would need 1.7 Earths to accommodate our current consumption levels.

Due to significant population growth, our consumption of renewable natural resources has exceeded the planet’s ability for renewal since the 1970s.

Food waste also plays a large role in the ecological footprint – a measure of the amount of natural resources needed to sustain a population at its current level. Roughly 33% of the food produced worldwide, or about 1.3 billion tons, is wasted or lost each year. In the United States, about half of the food produced goes to waste.

———–

“Earth Overshoot Day, which marks the moment our demand for natural resources exceeds what the planet can renew, falls on August 1 this year – the earliest it has ever been.”

lol..”overshoot day”..what the fuck does that mean?

“Recent studies have shown that global temperatures by the year 2100 could be up to 15% higher than the highest projections from the Intergovernmental Panel on Climate Change.”

yeah right..please..

“To calculate Earth’s natural resource budget, GFN considers the demand for natural resources – which includes food, forests, and marine products – as well as humans’ effects on the environment from factors like carbon emissions. The combined total is designed give a comprehensive picture of humanity’s global footprint.”

the models never lie!

401

~ by seeker401 on September 6, 2018.

5 Responses to “HSBC issues an alarming warning that Earth is running out of the resources to sustain life..scared yet??”

  1. […] HSBC issues an alarming warning that Earth is running out of the resources to sustain life..scared y… üzerinden […]

  2. Not while we’re wasting more than we all need.

  3. As long as we’re not running out of paper we’ll be ok, eh bankers?
    No shortage of heroin either! Funny how that ecapade in the 19th century isn’t mentioned in their Wikipedia page!

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