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<p>The EU Emissions Trading System (EU ETS) does not provide research funding. The
terms of the Withdrawal Agreement mean that the UK will continue to participate in
EU Programmes financed by the 2014-2020 Multiannual Financial Framework until their
closure.</p><p>The UK is the first major economy to legislate for net zero emissions
by 2050. The Government’s Clean Growth Strategy sets out how we want to make sure
that the UK continues to reap the benefits from the transition to a low carbon economy.</p><p>The
Government is investing over £3 billion to support low carbon innovation in the UK
between 2015 and 2021, to ensure that the UK continues to grasp the economic opportunities
of the global shift to a low carbon future, and have committed to raise total research
and development investment to 2.4% of GDP by 2027.</p><p>This is already benefiting
clean growth innovation – for example the £505 million BEIS Energy Innovation Programme,
which aims to accelerate the commercialisation of innovative clean energy technologies
and processes.</p>
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