According to Earth Overshoot Day, The world spent its entire natural resource budget for the year as of August 1st, 2018. Earth Overshoot Day, is the calculated illustrative calendar date on which humanity’s resource consumption for the year exceeds Earth’s capacity to regenerate those resources that year.
The HSBC released a statement declaring that environmental efforts by companies and governments were inadequate given the alarming pace of climate change. The multinational bank’s CSR initiatives focus heavily on projects in the field of environmental sustainability, gearing them more towards sustainability.
The Forbes says this move as a major shift over the past year. Earth Overshoot Day is calculated by Global Footprint Network and is a campaign supported by dozens of other nonprofit organizations.