Bosco Peters, talking good sense as usual, makes some excellent points about the pointlessness of the Anglican Covenant:
The issue is homosexuals. The Covenant is not about homosexuals but is the touted solution. So we will sign the Covenant, which says absolutely nothing about homosexuals, on the now-public understanding that in signing it we are actually signing not what the Covenant says but our own “solution” to the homosexual issue. And for good measure: part (d) in contradiction to what the Covenant actually does say.
Part D articulates the following power grab:
that the Primates Meeting, being responsible for Faith and Order, should be the body to oversee the Anglican Communion Covenant in its implementation (Anglican Communion Covenant Section 3.1.4.IV and South-to-South Encounter, Fourth Trumpet, 21).
The Southeast Asians are pushing an outlandishly authoritarian new governing system for the Communion. Plain and simple. The document doesn't say what they want it to, so they are pretending that it does.