According to an annual study, global carbon emissions increased significantly in 2007, with developing nations like China and India now responsible for more than half of the world's carbon dioxide output. The Global Carbon Project's report reveals that carbon dioxide emissions from human activities have been growing at a rate four times faster since 2000 compared to the 1990s, despite efforts to reduce emissions under the Kyoto Protocol. The burning of fossil fuels has been a major factor contributing to this increase. The report also predicts that India will soon surpass Russia to become the world's third largest emitter of CO2. The executive director of the Global Carbon Project noted that for the first time, developing countries are now emitting more carbon into the atmosphere than developed nations. He stated to Reuters that China is now the leading emitter of emissions, accounting for 60 percent of all growth in emissions. The United States followed as the second largest emitter. The International Council for Science, which oversees national academies of science, supports the project. Professor Barry Brook from the University of Adelaide in Australia warned that the rapid increase in emissions could lead to quicker global warming than previously projected, with CO2 concentrations possibly reaching 450 ppm by 2030 rather than 2040. At the current moment, the level of CO2 is just slightly above 380 parts per million. Regardless of the exact date, reaching 450 ppm of CO2 will result in a 2 degrees Celsius increase in global temperature, leading to a series of disastrous consequences. The Global Carbon Project was established in 2001 to study changes in the Earth's carbon cycle, including both man-made and natural emissions, as well as how carbon is absorbed by sinks like oceans and forests. Canadell, a member of the project, stated that they analyze data from CO2 samples collected worldwide and national emissions reported to the United Nations. He highlighted the significant increase in emissions between 2000 and 2007, which was unprecedented and occurred despite international efforts to combat climate change. Currently, only 37 wealthy nations are bound by the Kyoto Protocol, the primary global agreement aimed at addressing global warming, to reduce emissions starting in 2008. However, the first phase of Kyoto is set to end in 2012 and does not require developing countries to limit their emissions. The United Nations is leading negotiations to extend Kyoto beyond 2013 and develop a solution that encourages all countries to commit to reducing CO2 and other greenhouse gas emissions. A recent report has labeled this situation as a "wake-up call," noting that atmospheric CO2 levels reached 383 parts per million in 2007, a 37 percent increase from pre-industrial levels and the highest level in the past 650,000 years. The report also stated that the annual growth rate of atmospheric CO2 was 2.2 ppm in 2007, up from 1.8 ppm in 2006. Professor Matthew England, joint director of the University of New South Wales Climate Change Research Centre, stated that the recent data regarding increasing carbon dioxide emissions should serve as a significant alert to industry, business, and politicians. Canadell mentioned that the credit crisis is likely to reduce emissions growth, but emphasized that the economic downturn will only lead to a slight decline in emissions unless major countries like China, India, Russia, and Japan suffer as much as the United States.