It does mean that the climate financing debate should now explicitly tackle carbon trading. Here's a nine-minute video - http://www.storyofcapandtrade ... Patrick Bond
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Thanks for posting this cartoon. I only saw excerpts on Democracy Now. I'd recommend it to anyone who hasn't seen it, as a refresher course on what cap and trade means, and what the only option talked about in the US actually involves.
Think about how well C and T fits with the entire US neoliberal worldview. Now consider this stupid fraud of a 100 billion dollar fund run through the World Bank. I have to wonder not only about money going to private companies in developing countries, but also the rules for bidding for this money. Certainly there would be the usual neoliberal list of demands on the state's own structure, which translated means more privativization. But now think about a natural resource like water, land, minerals, with some of these holdings held or heavily managed by the developing country and how the rules for applying for this WB eco-fund, and how all that works to further neoliberalization ends.
This whole idea dovetails right into Obama's design for US public education policies. Make the money tight, make the rules brutal, and force unwanted `reforms'. Naomi Klein called this blackmail. I don't know if this falls under what David Harvey called accumulation by dispossession, but that phrase certainly captures the main idea.
Oh, yeah and last but not least, what is the WB doing with its own funds, playing the exotic financial markets like Harvard did?
CG