The biggest problem I have with trading CO2 emissions is this: it is primarily a cash flow system to make Eastern Europe and possibly Africa more wealthy, and does not provide incentives to produce more efficient technology in manufacturing and other industries that do contribute to the CO2 emissions. The Kyoto Accord would never work in its current format or in this format. The only diffeerence is that the Kyoto agreement never addressed China or emerging markets while this one does. Only by allowing the markets with businesses and some public sector define, distribute, and develop the new technologies to burn coal and oil cleaner, alternative fuels, and new engineering codes would go farther, faster, and better than this proposal can ever hope to accomplish.
like to add.. all donar aid be restricted to countries of vital strategic importance. IE iraq, afganistan, and any other government under threat to collapse under pressure from islamic extremism... well thats a few dozen any ways itself..