"Continued ecological deficit spending will have severe economic consequences," said GFN Executive Director Dr Mathis Wackernagel.
"Resource limitations and ecosystem collapses would trigger massive stagflation with the value of investments plummeting, while food and energy costs skyrocket."
Chinese citizens have an average ecological footprint which is around 2.1 global ha (hectares) per person whilst US citizens each require an average of 9.4 global ha and UK citizens 5.3 ha to support their lifestyles. In the Congo people have an average footprint of just 0.5 global ha per person - but face a future of declining natural resources from deforestation and increased demands from a rising population and export pressures.
The new water footprint measures show up the significance of water traded in the form of commodities with, for example, a cotton T-shirt requiring 2,900 litres of water in its production. On average, each person consumes 1.24 million litres - about half an Olympic swimming pool - of water a year, but this varies from 2.48 million litres per
person a year in the US to 619,000 litres per capita annually in Yemen.
The report finds that around 50 countries are currently facing moderate or severe water stress and the number of people suffering from year-round or seasonal water shortages is expected to increase as a result of climate change.
The Living Planet Index, compiled by ZSL, which was released earlier in the year, shows a nearly 30 per cent decline since 1970 in nearly 5000 measured populations of 1,686 species. These dramatic losses in our natural wealth are being driven by deforestation and land conversion in the tropics and the impact of dams, diversions and climate change on freshwater species. Pollution, over-fishing and destructive fishing in marine and coastal environments are also taking a considerable toll.
"We are acting ecologically in the same way as financial institutions have been behaving economically - seeking immediate gratification without due regard for the consequences," said ZSL co-editor Jonathan Loh.
"The consequences of a global ecological crisis are even graver than the current economic meltdown."
The report suggests some key "sustainability wedges" which if combined could stabilise and reverse the worsening slide into ecological debt and enduring damage to global support systems. For the single most important challenge - climate change - the report shows that a range of efficiency, renewable and low emissions "wedges" could meet projected energy demands to 2050 with reductions in carbon emissions of 60 to 80 per cent.
David Norman, director of campaigns at WWF said: "We humans have been very good at creating problems - but we can be equally good at solving them. A sustainable world is not an unachievable goal. As the world looks to restore its economies we must build in long term environmental as well as economic sustainability."
