**3. Conclusion**

The analysis of Biennial Report data gives the possibility to get a picture of public climate finance mobilized for climate actions from EUplus. Measuring and accounting the financial flows allocated to the action against the climate change. This picture is undoubtedly partial but, however, allows making the point on changing attention of Member States and the EU to climate change.

The analysis of the Biennial Reports showed that since 2015, the push to tackle climate change through financial support in developing countries has gained momentum. The analysis also shows an increasing focus on adaptation-oriented actions, which has thus surpassed contributions to mitigation, a sign of a shift in awareness of the delay we are operating in.

While overall in EUplus mitigation used to absorb 57% of public climate finance, this percentage has dropped to 41% in the last BR in favor of a lower increase in adaptation.

In overall terms, the boost from major international commitments in 2015 led to an increase in EUplus contributions of +63% in 3BR compared with the previous pre-Paris BR (BR2) and + 10% in BR4.

Looking at the type of contribution, the bilateral part constitutes the main item, although in a detailed analysis by individual Member States, the breakdown may not be confirmed.

However, these considerations on the allocation of contributions could be challenged by the BR5 data covering the 2-year period 2019–2020. The new BR will not only give an account of whether or not the global target has been reached, but will also illustrate the impact that the COVID-19 pandemic and the subsequent health emergency have caused both in terms of the volume of investments themselves and in terms of the type of support.

The updated data will be available no later than December 31, 2022 [19], together with the annual greenhouse gas inventory for year 2020 as the first biennial transparency report (BTR1), or at the latest by December 31, 2024, if submitted as a stand-alone report.

At that time we will know whether the promises have been kept or not.

*Kept Promises? The Evolution of the EU Financial Contribution to Climate Change DOI: http://dx.doi.org/10.5772/intechopen.105541*
