C02 isn't just "going up", in historic terms it's exploding...
>....and yet, the planet cools...
Due to El Niņo...
Met Office: Myth 2: Drop in monthly global temperature means global warming has stopped
Quote: In 2007-2008 the global climate was influenced by the cold phase of this oscillation, known as La Niņa. The La Niņa began to develop in early 2007, having a significant cooling effect on the global average temperature. Despite this, 2007 was one of the ten warmest years since global records began in 1850 with a temperature some 0.4 °C above average.
The La Niņa strengthened further during early 2008 and became the strongest since 1988/89, significantly contributing to a lower January temperature in 2008, compared to recent years. In addition, global average temperature was influenced by very cold land temperatures in parts of the northern hemisphere and extensive snow cover.
January 2008 may have seem particularly cold compared to January 2007 - the warmest January on record and largely due to the warming phenomenon El Niņo - but this merely demonstrates the year-to-year natural variations in our climate.
In future, while the trend in global temperatures is predicted to remain upwards, we will continue to see inherent variability of this kind.
End Quote.
If you were talking about the longer period of cooling read this..
The Ups and Downs of Global Warming | wltx.com