Work starts on Gulf 'green city'

Here.

Excerpts:

Abu Dhabi has started to build what it says is the world's first zero-carbon, zero-waste car-free city.
...
The project is supported by global conservation charity, the WWF.
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Abu Dhabi will invest $4bn of equity in the project and borrow some of the rest, Masdar said.

"We are creating an array of financial vehicles to finance the $22bn development," Masdar chief executive officer Sultan al-Jaber told Reuters news agency.

"We will monetise all carbon emission reductions... Such innovative financing has never been applied to the scale of an entire city."

In my humble opinion, this project has "fiasco" written all over it. That part in bold sounds ominous to me--I wonder what that actually means?