What? I mean, WHAT? Oh, it's you, Alice.

Just how surreal the business of "carbon trading" has become is illustrated by [ a ] project [...] which involves the plan by a Tata subsidiary to build one of the world's largest coal-fired power stations in the state of Gujarat. Nearly $1 billion needed to build the 4 gigawatt Mundra plant is being supplied in cheap "green loans" (WTF?) by the World Bank and the Asia Development Bank (to both of which Dr Pachauri acts as an adviser), because the plant will emit CO2 at a "lower intensity" than older power stations in India. For the same reason, the plant will also qualify for a potential $560 million in "carbon credits" under the UN's CDM scheme, which can then be sold on the world market.

If our own Government allows E.on to build a similar but much smaller coal-fired power station at Kingsnorth in Kent, however, we shall have to pay out millions of pounds through our electricity bills to buy those same "credits" which in India the UN hands out free – to help Tata build a plant which will be responsible for emitting 26 million tonnes a year of CO2, well over twice as much as Kingsnorth.

Booker

My emphasis.