Showing posts with label Australian. Show all posts
Showing posts with label Australian. Show all posts

Sunday, October 17, 2010

Consumption outstrips Earth's production

Credit: Adam Morton

HUMANS are churning through the Earth's resources at 1.5 times the rate that nature can replace them - and the over-consumption rate is worsening.

The Living Planet Report, by environment group WWF, estimates that the Earth has enough productive land and sea for each person to use 1.8 hectares to draw the resources they need. In 2007, the average person used 2.7 hectares.

Scientists call this a state of ''ecological overshoot'' - extracting resources at a faster rate than the natural world can replace them.

The report says it is possible to over-consume - for example, to log more wood from a forest than re-grows each year, or harvest more fish from an ocean than can be replenished - but only for so long.

''The analogy I like to use is that if this is a bank we are not living off the interest that the Earth is providing us, we are drawing down on the principal,'' says WWF Australia chief executive Dermot O'Gorman.

''That is undermining not just the environmental sustainability of this planet, but the economic and emotional sustainability of the planet in the short-term.''

The largest chunk of the global ecological footprint is greenhouse gas emissions, which have increased 35 per cent since the first Living Planet Report in 1998.

The 2010 report says local exhaustion of natural resources was already happening in some places, citing Newfoundland's collapse of cod stocks.

It says although people can shift to new areas when a natural resource is spent, current consumption rates mean those resources will eventually also run out.

On current projections for population growth, consumption and climate change, the world will be using the equivalent of two planets' renewable resources a year by 2030.

Produced with the Zoological Society of London and the Global Footprint Network, the report includes three main indicators to monitor the state of the planet.

The Living Planet Index, which tracks nearly 8000 populations of more than 2500 animal species, found a decline in biodiversity of nearly 30 per cent between 1970 and 2007. Biodiversity loss was most severe in the tropics and in poorer countries.

The Water Footprint of Production index found 71 countries were experiencing water stress.

Credit: Adam Morton

Saturday, October 16, 2010

First-timers oblivious to home saver plan

MANY Australians haven't even heard of a Federal Government scheme that's supposed to help first time buyers into the housing market, let alone joined it, a survey has found.

An online poll by mortgage broker Loan Market found 46 per cent of respondents weren't aware of the $1.2 billion First Home Saver Accounts (FHSA) scheme that was launched two years ago to help young people save for a home deposit.

The scheme was set up to assist more than 700,000 people within the first four year years of its launch in October 2008, but fewer than 20,000 accounts have been opened, according to Loan Market chief operating officer Dean Rushton.

"Clearly this scheme has not been as successful as hoped," Mr Rushton said.

"Despite the 2010 budget announcement by the Federal Government of draft laws to boost the flexibility of the scheme, it clear from our survey results that prospective home-buyers are unaware of the FHSA or still find it too complicated."

Latest Australian Bureau of Statistics data showed that just 15.5 per cent of new home loans that were committed in August were for first home buyers, the smallest proportion since July 2004.

Under the FHSA, the Government contributes 17 per cent on the first $5500 of individual contributions made each year.

Savings are required to be kept in the scheme for four years.

The survey found that of the 400 respondents, 29 per cent thought the four-year time-frame was too long, 18 per cent said the scheme lacked flexibility and 7 per cent said it was too complicated.

"It's time to admit that the First Home Saver Account has failed and needs some significant panel beating," Mr Rushton said.


Credit: News.com.au Image credit: Google