Mobilizing and allocating finance to address the global public goods dimensions of climate change—both emissions reductions and resilience—is one of the great policy challenges of our age. Within the development and climate finance policy communities, most of the attention has focused, understandably, on how to raise the hundreds of billions of dollars that will be needed. After all, if you can’t raise it you can’t spend it. However, one major obstacle in mobilizing climate finance has been a lack of consensus on how new public climate money would be best spent.