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main periods: The first period ("forerunners") spans from the 1970s to 2010. During this time, the theoretical foundations were established, and following the publication of the Brundtland Report (1987), the first green financial instruments and the first targeted research emerged. The establishment of the Green Climate Fund (2010) was followed by the second period ("early phase") spanning 2010-2021 and includes eras of carbon, environmental, and climate finance.

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