Consumption of resources is rising rapidly, biodiversity is plummeting and just about every measure shows humans affecting Earth on a vast scale. Most of us accept the need for a more sustainable way to live, by reducing carbon emissions, developing renewable technology and increasing energy efficiency.

Gland, Switzerland: The world is heading for an ecological credit crunch as human demands on the world's natural capital reach nearly a third more than earth can sustain.

That is the stark warning contained in the latest edition of WWF’s Living Planet Report, the leading statement of the planet’s health. In addition global natural wealth and diversity continues to decline, and more and more countries are slipping into a state of permanent or seasonal water stress.

“The world is currently struggling with the consequences of over-valuing its financial assets,” said WWF International Director-General James Leape, “but a more fundamental crisis looms ahead -- an ecological credit crunch caused by under-valuing the environmental assets that are the basis of all life and prosperity.”