China-US doing progress on Climate Change -> Should UNFCCC be scare about this?

After years of deadlock negotiations in the multilateral debates about climate change, China and US are doing good progress through bilateral meetings as can be seen here. That´s certainly good for the environment, but how does this make the the international organisms leading the climate change negotiations specially the United Nations Framework Convention on Climate Change (UNFCCC), look?

What do you think? US-China making progress in Climate Change will support the global agreement that is being seek at the Conference of the Parties (COP)  for Paris, 2015? Or will it show that multilateral negotiations are too slow and ineffective taking the climate change impetus to other mechanisms such as these bilateral sessions?