Earth Overshoot Day "compares the resource demand of individuals, governments, and businesses against what Earth can renew" according to the Global Footprint Network.
The day is determined using figures from the UN relating to usage of resources and waste production.
The 2020 Earth Overshoot Day is later that usual, but this has been noted as only a short-term improvement due to the effects of global lockdowns caused by Covid-19.
Last year, the Overshoot Day was July 29th, the date ever, suggesting humans were using the earth's resources at a faster rate than ever before in 2019.
This year's figures show that the global use of forest products has decreased by 8.4 per cent, while the global carbon footprint has also decreased by 14.5 per cent compared to 2019 figures.
The Global Footprint Network aims to encourage people to #MoveTheDay by being more conscious of the resources they use in an attempt to cause the Overshoot Day to fall later in the year.
Mathis Wackernagel from Global Footprint Network, says people should consider where their house is located in terms of access to transport and how well insulated the house is in order to lower our impact on the environment.