Hmm, so which is it? Are the world’s developed countries falling short in their commitments to fight global climate change, or are they charging forward with initiatives despite the world’s economic woes?

A bit of both, apparently. The Deutsche Bank Group’s DB Advisors today released research showing that governments around the globe are stepping up the pace of new climate change regulations, despite the financial downturn. The study points to 250 new regulations that have been adopted over the past eight months to spur renewable energy development and climate change mitigation.

In the US alone, green initiatives recently received a $106 billion (US) boost as part of President Obama’s new American Recovery and Reinvestment Act of 2009, DB Advisors notes.

“Globally, policy remains a key driver for investment returns in both public and private markets,” said Mark Fulton, Global Head of Climate Change Investment Research at DB Climate Change Advisors. “We believe this trend towards greater regulation and stimulus spending will provide crucial support to climate change industries during the current global economic downturn, helping to offset the impact of weaker debt markets over time.”

To which a recent article in the Guardian UK might respond: “Show me the money.” The piece, titled, “Rich nations failing to meet climate aid pledges,” states that, of the $18 billion that wealthy countries have promised poorer countries to help them adapt to global warming, less than $0.9 billion has actually been dispersed.

Too little effort — and funds — too late? We might soon find out, considering how much more quickly the effects of climate change are making themselves felt.

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