The interconnected triple planetary crisis which has been fueled by unsustainable production and consumption, has put the world’s economic and social well-being at risk, while undermining opportunities to reduce poverty, and improve lives and livelihoods. Tackling it calls for a stronger, more agile, innovative and forward-looking UNEP. As it currently stands UNEP reliance on tightly controlled earmarked contributions, which currently account for 80% of its financing, is hindering the ability of the organization to achieve transformational change. Such change requires a rethinking of the entire funding model to be more flexible. That is why the new thematic funds were created.