Wolfowitz's 'Mission Accomplished'

World Bank President Paul Wolfowitz not only clings to a job, he also seems to be reluctant to let go of an administration catchphrase.

"Mission Accomplished," announced a May 3 World Bank press release on the finance institution's involvement in the global market to combat climate change. Interestingly, the declaration appears to be every bit as premature as President Bush's banner-bedecked announcement on the USS Abraham Lincoln four years ago, that major combat operations in Iraq (strongly backed by Wolfowitz) were at an end. Projects funded by the World Bank and others in the fledgling market to control carbon dioxide emissions are steeped in controversy over effectiveness and cost, reports our Marianne Lavelle.

Even the fine print of the press release is less triumphant than its title would suggest: "In 2007, the carbon market exists, but we are still learning," says Joelle Chassard, manager of the World Bank's Carbon Finance Unit.