As of today, we have used up all the Earth’s resources for 2016

According to the Global Footprint Network, Monday, August 8, 2016, humanity has consumed all the resources that the planet can renew in a year. This date  marks the Earth Overshoot day.

The day is declared every year by Global Footprint Network, a nonprofit research group that focuses on sustainability. The first Earth Overshoot Day was in Oct. 2006. It’s been creeping up the calendar ever since, landing on Aug. 19 in 2014, and just last year, reaching Aug. 13. The earlier Earth Overshoot Day falls, the more rapidly we’ve been using the planet’s natural resources.

The exact date of Earth Overshoot Day is determined by a simple formula. Global Footprint Network takes the planet’s biocapacity (pdf), or the amount of natural resources available, divides it by humanity’s ecological footprint, or how much of the planet’s resources we use up, and then multiplies it by the days in a year.