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LONDON (Reuters) - Britain looks set to miss a European renewable energy target and its goal of a 34 percent cut in greenhouse gas emissions by 2020 as emissions decline more slowly, a report by Cambridge Econometrics said on Monday.

"The challenge now is to ensure that the 2020 targets are met by policies that can cause emissions to fall substantially in a context of economic growth," said Paul Elkins, senior consultant at Cambridge Econometrics and the report's co-author. The UK will meet its first two carbon budgets up to 2017 due to reduced industrial output from the economic downturn.

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