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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 has been investing over £3 billion to support low carbon innovation in
the UK over the period 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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