What is the earth-overshoot day and what would happen if it got closer to new years day?

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What is the earth-overshoot day and what would happen if it got closer to new years day?

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Basically there is a limited amount of resources on Earth, some of which are restored each year, overshoot was chosen as a way of representing how much damage we are doing to the environment by indicating when we have basically used up this year’s resources, the shorter the time it takes to reach overshoot the more damage we are doing.

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