Reuters reported that the global carbon dioxide output in 2008 was 1.94 percent higher than in 2007. You can see that in 2008, the CO2 growth probably exceeded the GDP growth. Under normal circumstances, the CO2 growth may be equal to the GDP growth minus 1 percentage point or so (because of the gradually increasing "carbon efficiency" of the economy).
At any rate, such numbers make it very clear that the ideas about 20% or 80% reductions within a decade are completely unrealistic (and both 20% and 80% are qualitatively equally silly) unless a new revolutionary technology takes over the world: but the events of this unusual kind cannot be ordered by bureaucrats.
I find it likely that sometime in 30-100 years, such a breakthrough will indeed take place. But no one knows when and where this development will occur. It makes no sense to speculate about such events or include them in the short-term and medium-term planning.
The CO2 growth seems identical to the growth before the Kyoto protocol (and it has accumulated to a 40% jump since 1990) which means that the hundreds of billions of dollars - and surely trillions if you add them up - have been completely wasted even if you were imagining that modified CO2 emissions could detectably influence the climate which they can't.
It's the carbon criminals who pocket this money. The grey carbon economy is one of the big tumors parasiting on the human society.