In this paper, I bring forth a proposal on how to proceed with the Climate Negotiations after the meager results of the United Nations Climate Change Conference in December 2009 in Copenhagen. I argue that splitting continued negotiations into two separate blocks could both save time and make it more likely to ultimately reach a comprehensive treaty in Mexico City in December 2010. The first block would deal with historical emissions of greenhouse gases including a mutual debt cancellation: developed countries carbon debts vs. developing countries conventional monetary debts. The second block would deal with future emissions and how to finance adaption to climate change. Following the polluter pays -principle, I argue that the funds should be collected in proportion to the responsibility for proceeding climate change and redistributed in proportion to the needs for adaption.