If everybody in the world lived like the average EU citizen, nature's annual resources budget would be used up by tomorrow, and we would need 2.8 planets to meet our needs, according to a new report by the World Wide Fund for Nature (WWF) and the Global Footprint Network.

The report says the EU uses up almost 20% of the Earth's bio-capacity although it comprises only 7% of world population.

It adds that none of the EU's 28 member states have implemented sustainable consumption policies.

The report comes as EU leaders gather in the Romanian town of Sibiu to set the EU’s course for the next five years.

Climate protection is among the priorities, but views on concrete action differ between countries, influenced by their dominant industries.

Taoiseach Leo Varadkar will be attending the informal European Council summit, which will be chaired by the Council President, Donald Tusk.

The European Commission has been pushing for the EU to become climate neutral by 2050 through reducing carbon emissions that will otherwise boost the Earth's average temperature.

The WWF report says the EU's smallest and richest country, Luxembourg, was also the one which used up renewable resources the fastest. Just 46 days into the year, on 16 February, it had consumed its full share of the Earth's resources, it said.

The report says Ireland had used its annual share of nature’s resources by 27 April.

"If everybody in the world had the same ecological footprint as an average EU resident - emitting as much carbon, consuming as much food, timber and fibres, and occupying as much built up space - 10 May would be the date by which humanity would have used as much from nature than our planet can renew in a whole year," the report said.

"For the rest of the year, humanity would have to live off depleting the natural capital of the Earth," it said.