PrepCom 3 is set to expand on discussions on a draft of the outcome document of the upcoming Fourth Financing for Development Conference.

The meeting at UN headquarters will set the stage for negotiations to reform the architecture of the international financial system in a push for global tax justice.

The nearly USD 700 million Work Program approved focuses heavily on chemicals and waste at a time when the GEF hopes to prove to the multilateral community it has the capacity to serve as the financial mechanism for a global plastics treaty and that it could play a significant role in realizing the vision of the Global Framework on Chemicals.

Despite long hours of difficult negotiations and progress on streamlining ideas and trying to bridge the gap between countries, delegates could not reach agreement on a new treaty to end plastic pollution. They agreed to suspend the session and reconvene in 2025.