In Baku, Azerbaijan, the so-called "finance COP" was a disappointment. Now, the UN's framework convention on climate change (UNFCCC) is facing a credibility crisis.

The current talks “simply cannot deliver the change at exponential speed and scale, which is essential to ensure a safe climate landing for humanity,” a number of influential figures, including former U.N. Secretary General Ban Ki-moon, wrote in a letter to the United Nations as the Baku summit was underway.

The world approved a bitterly negotiated climate deal Sunday but poorer nations most at the mercy of worsening disasters dismissed a $300 billion a year pledge from wealthy historic polluters

It’s not near the full amount of $1.3 trillion that developing countries were asking for, but it’s three times a deal of $100 billion a year from 2009 that is expiring.