This paper discusses the strengths and weaknesses of the ecological footprint as an ecological accounting method, points out research needs for improvement of the analysis, and suggests potential new applications. The paper identifies ten new applications of the tool to make it applicable at various geographic scales and for a number of analytical and didactic purposes. Then nine methodological improvements are suggested that could refine the currently applied method, making assessments more sensitive to a larger number of ecological impacts. It concludes that many crucial questions pertinent to building a sustainable society can be addressed by current ecological footprint research. By making the method more complete, this tool could evolve from being largely of pedagogical use to become a strategic tool for policy analysis.