The global economy has embarked on a new phase of growth and development in the new millennium. The current phase of globalisation has had recent beginnings but already signs of its impact have become visible. These are apparent from the trends in income distribution, trade, environmental pollution, and so on. But what is most noticeable about these trends, particularly in relation to environmental degradation, is the extreme disparity on a global scale. We shall discuss these trends in disparity shortly and relate them to the crux of the matter, that is, environmental sustainability.