In recent years, the richer half of the world has been demanding that developing nations with high rates of economic growth, including India, accept legally binding emissions cuts. This approach does not meet the test of fairness and equity, since those who are not responsible for the problem are being asked to share the burden equally. The principle of differentiated responsibilities was fundamental to the Kyoto Protocol, and there is no cause to review that for a new agreement. Instead, the focus must be on the absence of working arrangements to substantially fund mitigation of emissions and to help vulnerable countries adapt to the effects of climate change. A $100 billion annual fund to be available from 2020 has made no great leap, having received only pledges of aid. A smaller Green Climate Fund has set apart a mere $168 million for eight projects, some of which have run into hurdles. The negotiators at Paris thus have the challenge of crafting an agreement that incorporates all the key elements needed to attain the climate target. Fortunately, most countries including those in the global south have signalled their intention to take national actions to cut emissions. What they need is barrier-free financing and open source technologies in order to do more. Paris presents the moment, and the leaders must grasp it.