‘Climate compatible development’ increases prospects for policy processes that contribute to development, climate change adaptation and mitigation. This paper looks at the complex political economy of climate compatible development in Ghana’s artisanal fisheries sector. It focuses on two contentious policy areas where there is potential for climate compatible development, namely the subsidized premix fuel provided to artisanal fishermen, and mangrove protection. Using case studies, the paper emphasizes the need to conceptualize climate compatible development as a process which is dynamic across space and time, such that potential for triple win outcomes is fluctuate to vary according to changing circumstances. It also argues that it is is necessary to recognize that pressures from a number of actors, including those at the grass roots, may demand short term improvements to current problems rather than aspiring to triple win outcomes in the long term, creating a major challenge for climate compatible development.