Climate finance is vital to help poor and most vulnerable countries cope with the adverse effects of climate change, but it is still a hotly debated issue at the international level. At the15th Conference of the Parties (COP15) to the United Nations Framework Convention on Climate Change (UNFCCC) in Copenhagen and COP16 in Cancun, developed countries pledged to provide precise amounts of new and additional resources, with a balanced allocation between adaptation and mitigation, to address the needs of developing countries. This policy brief investigates key flaws in existing international climate agreements as well as the consequences of excessive climate finance fragmentation. It also highlights the progress made at COP17 in Durban and the work that still remains to be done.