A critical component of the Global Green New Deal is the necessity of reducing the carbon dependency of the world economy.

As indicated in box 2.1, although the greenhouse gas intensity of the world economy may have declined from 1990 to 2005, overall global emissions have risen. They are projected to rise even further over the next twenty-five years, with fossil fuel energy use continuing as global populations increase, the world economy grows and poorer economies develop. Thus, reviving economic growth in today's carbon-dependent world economy will simply contribute to both the rising demand for and combustion of fossil fuels and increased GHG emissions.

In 2005 the top ten emitters of GHGs were either rich economies (e.g. the United States, the European Union, Japan and Canada) or large emerging market economies (e.g. China, Russia, India, Brazil, Mexico and Indonesia). Together, the top emitters accounted for over 70 percent of the world's total GHGs (see box 2.1). By 2030, however, this situation is likely to have changed. Emissions from energy sources alone will more than double for the developing world, increase by nearly 30 percent in transition economies and rise by 17 percent in the OECD. By 2030 developing economies will account for more than a half of the world's GHG emissions from energy use, and China's share could be close to a third. Other large emerging market economies, such as India and Russia, will also continue to contribute significantly to global emissions.