The attached report contains the outcome of the discussion on the financial outlook and funding challenges for UNEP held at the 9th Annual Subcommittee of the CPR, which took place from 24 to 28 October 2022. Under the agenda item Financial Outlook and Funding Challenges for UNEP, the funding of UNEP was – for the first time – discussed as a standalone agenda item under the auspices of the CPR annual subcommittee. The overall objective of this session was to increase the understanding of UNEP’s funding situation, challenges and opportunities, and to agree on joint action to address them. Further to the Chair’s Summary of the meeting, this is the more detailed report of the dialogue and recommendations which the Secretariat was requested to prepare.