Interesting comment on the International Emissions Trading Association (IETA) green bond / carbon credits proposal from the Institute for Agriculture and Trade Policy (IATD).
IATD is concerned that the IETA proposal would transform global climate finance from what they call "a public fiduciary duty" of developed countries, to a new source of developing country debt to private creditors. Mind you this may happen anyway, given that Copenhagen Accord signatories are already saying the bulk of funding will have to come from the private sector - which will mean debt.