Climate change is already negatively affecting the lives and livelihoods of poor men and women. Yet it is estimated that less than a tenth of climate funds to date have been spent on helping people in vulnerable countries adapt to the impacts of climate change. The poor are losing out twice: they are hardest hit by climate change they didn't cause, and they are being neglected by funds that should be helping them. Climate finance can and must be made to work from the bottom up, particularly for women smallholder farmers. Starting with the formal establishment of a new Global Climate Fund, decisions on climate finance governance need to set a new direction for a post-2012 era. This paper presents a vision for a new Fund and broader finance system that is effective in meeting the scale of developing country financing needs, and is widely considered - by governments and civil societies - to be legitimate in its decision-making.