This seventh edition of the Financing the United Nations Development System report arrives at a moment when the UN system is facing unprecedented challenges. Climate change, the effects of the COVID-19 pandemic, increasing inequality, and armed conflicts are placing inimitable demands on the multilateral system. For the international community, then, it is Time to Meet the Moment through quality financing of multilateral approaches to development. Only then can a shared aim of promoting prevention, mitigation, resilience building and emergency preparedness be met. Mobilising the quality, unearmarked multilateral finance needed to address these challenges calls for clarity and transparency. Towards this end, the financial data explored in Part One of this report aims to demystify the complex funding dynamics of the UN development system and how they feed into financing flows for the 2030 Agenda for Sustainable Development. Building on this, in Parts Two and Three the report presents a comprehensive selection