The biggest culprits and the biggest players in climate change seem to be the United States, the European Union, and China. With the meeting in Copenhagen of these three with everyone else who has a say and a responsibility, preliminary meetings and decisions are in full swing.

China recently unveiled a pledge to do as much as the EU does. The U.S. continues to talk big but do relatively little. The EU continues to set the pace and the tone. This week in Brussels the European Union agreed to the basis of its collective financial contribution to the coming global climate change deal. This financial contribution will go primarily to help developing nations deal with the effects of climate change.

Financial support is viewed by many experts as essential to securing the support of developing nations, basically because many view climate change as the fault of industrialized countries. Call it climate change poetic justice, klimate karma, just desserts, or even climate change welfare, the EU realizes that for everyone to work together to fight climate change, some will have to do more than others.

"The main principles of contribution should be the ability to pay and the responsibility for emissions. All countries, except the least developed, should contribute to the financing of the fight against climate change in developing countries," said EU summit draft conclusions.

EU finance experts predict that developing nations will require 100 billion euros ($140 billion) PER YEAR to cut CO2 emissions by 2020 PLUS 20-50 billion euros to deal with the impact on the climate.
What? Hundreds of billions of euros over the next few decades to deal with and battle climate change? Where is this money going to come from? The EU didn’t say anything about that part. Just how much is would cost.

Ok, so let’s say the money is found and provided- Where will the money go? Some ideas include developing drought-resistant crops or finding new sources of water. Pretty hopeful uses, but at least the EU is doing its best to think ahead and think of others. Environmentalists are predictably saying that more money and commitments are needed to make sure that the Copenhagen summit is successful on a global level. 

Failure by the EU to commit to how much it will contribute drew criticism from the World Wildlife Fund, and Joris den Blanken of Greenpeace emphasized that international preparations for Copenhagen were stalling because no one will commit to clear financial numbers. Imagine that.

Acknowledging that the EU is leading the global charge, den Blanken added, "If the EU doesn't take the first steps, then there will be no progress.”

While it is probably an off-hand comment made out of frustration, den Blanken hits on a core nerve of the international negotiations- the EU is currently both a careful and courageous leader. The fact that China is using EU numbers as benchmarks for their own commitments and goals is an encouraging sign that Asia may go with Europe in the climate change approach. Imagine if China were saying, well, the U.S. hasn’t done much, so we won’t either. While the U.S. is doing a lot more lately with Obama at the helm, we are still well behind the rest of the “developed” world in making commitments and/ or progress toward battling climate change.

And make no mistake- it is a race.

Danish Prime Minister Lars Lokke Rasmussen, whose country will host the Copenhagen global summit, was optimistic and focused.

"To let Europe drop behind would be a mistake. We should maintain leadership toward reaching an ambitious global climate agreement. In a few months, I am confident we will reach a final decision on all aspects of financing," he told reporters.

Let the Copenhagen Winter 2009 Games commence!