The United Nations Framework Convention on Climate Change (UNFCCC) negotiation process on climate finance has become the dead horse that climate negotiators will not stop flogging. Twenty years of effort has brought very limited action. Developing countries stubbornly insist on being compensated by those responsible for causing the problem. Progress on climate finance has been slow to non-existent. The negotiation process appears to be broken. The UNFCCC process is in need of a radical re-think. Substantive results on dealing with the climate change problem could be achieved if the focus was on issues for which cooperation and collective action are possible.