Global economic development brings competing influences on public health. On the one hand, the increase in per capita wealth reduces susceptibility to environmental pollutants, primarily through access to health care in poorer nations. On the other hand, economic growth through industrialization generally increases the emissions of those same pollutants unless a different path to economic development than the one in richer nations is followed. This chapter explores a potential solution to what may only be an apparent but not actual conflict by developing a quantitative methodology for calculating economic growth’s net impact on public health and the co-benefits of greenhouse gas reductions that simultaneously reduce exposure to particulate matter. The assessment shows that co-benefits of decarbonization are significant, with GDP growth in non-Annex I nations carrying its own large health benefit. The question also is raised of whether differences in the spatial resolution of global economic, decarbonization, and particulate risk models have implications for conclusions on co-benefits.