The version I read about said that evil American capitalists can buy polluting coal plants in China.
The deal is that an American company buys the polluting Chinese coal plant from the Chinese and is credited with X number of carbon credits to continue operating its CO2 producing business.
The Chicoms, after getting paid off to stop producing CO2, dismantle the coal plant. Then the Chicoms rebuild the coal plant down the road to wait for the next buyer.
In turn, the evil American capitalists raise their rates on consumers to pay for buying the scam Chicom coal plant. So in the end, Americans see huge tax and goods increases that drain them of capital.
Economists at Wharton calculate this will cost each American family another $2,000 annually and throw millions of people out of work.
You might invest in throw-away Chinese coal factories to offset your family's increased cost of living expenses, but I'd guess the IRS will consider it a tax evasion scheme. The Marxists really, really want their pound of flesh from you on this scam.
Welcome to the brave new soviet world of global warming.