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The European Union has pledged 10-and-a-half billion dollars over three years to help developed nations deal with climate change. Now it’s looking to other big polluters — like the US and China — to make a contribution. The World’s Gerry Hadden reports.

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MARCO WERMAN: I’m Marco Werman and this is The World, a co-production of the BBC World Service, PRI, and WGBH in Boston. A week into the Copenhagen climate talks the European Union is putting up some money. It’s pledged $10.5 billion over three years for a short-term fund to help poor countries adapt to climate change. Up until last night the EU was wavering on any new commitments. But now that EU has agreed on a sum, it’s calling on other developed nations to contribute. The World’s Gerry Hadden reports.

GERRY HADDEN: After embarrassing days of deadlock EU members have agreed to contribute $3.6 billion a year to an emergency fund for developing countries. After the announcement the United Nations climate change chief, Yvo de Boer, said Europe’s pledge would put pressure on other big polluters such as China, India, and the United States.

YVO DE BOER: One of the things that has been holding this process back is lack of clarity on how short-term financial support is going to be provided to developing countries. And the fact that Europe has now very clearly put a figure on the table will I think be a huge encouragement to the process.

HADDEN: The stopgap fund is supposed to provide $10 billion dollars a year for three years. It’s mainly for poorer nations to improve water usage, switch to draught resistant crops, and move to renewable energy such as solar and wind. It remains to be seen who will kick in the remaining $6.4 billion needed to round out the fund. President Obama has said the US would contribute its fair share to help developing nations but so far he hasn’t specified an amount. Today European Union Commissioner Jose Barroso said the money needs to start flowing now.

JOSE BARROSO: This is so important for developing countries, especially the poorest, the most vulnerable. I think about African countries, the small island states, whose future depends on immediate action.

HADDEN: But the fund itself is already under fire from some who question whether the promised funds will be new money and buy those who say it’s simply not enough. Billionaire George Soros said the developed world is letting the planet down.

GEORGE SOROS: Ten billion dollars a year is more than nothing but not much more because of the magnitude of the problem.

HADDEN: Soros wants to see 10 times more money in the fund. Whatever the amount the short-term fund is only supposed to operate until 2012. That’s when a new long-term agreement to fight climate change kicks in. That’s the main accord being negotiated now in Copenhagen. Europe had news on the long-term front today as well. It offered a new greenhouse gas reduction target – a 30% drop from 1990 levels by 2020. Currently Europe is aiming for a 20% reduction. But today Swedish Prime Minister Fredrik Reinfeldt said the new offer would be retracted if other developed nations didn’t step up.

FREDRIK REINFELDT: We can’t solve the climate problem ourselves. European Union countries only stands for 13% of global emission. We need to have a global answer to this global problem.

HADDEN: Japan and Russian have already pledged to reduce emissions by 25% from 1990 levels. The US, historically the world’s largest producer of greenhouses gases, has offered a 17% cut in emissions by 2020. But that’s only from 2005 levels. That number disappoints other world leaders. They’re hoping President Obama will deepen America’s commitment when he arrives in Copenhagen next week. For The World I’m Gerry Hadden.

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