The head of the CBI warned yesterday that Britain and Europe will not meet the greenhouse gas emission and renewable energy targets set out by the European Commission last week.

According to reports in The Guardian, Richard Lambert said that while longer term emission targets for 2030 and 2050 could be reached, it was already too late to meet the proposed targets of cutting emissions by 20 per cent and ensuring the same amount of Europe's energy mix comes from renewable sources by 2020.

He added that meeting the UK target to increase the proportion of energy to come from renewables to 15 per cent by 2020 would be unfeasible and costly. "It can be done but it will cost a hell of a lot of money," he said. "I think it is not realistic."

Lambert's concerns over the Commission's targets suggest it will face a major fight if it is to get all of its proposals approved by the European Parliament and member states.

While the plans were initially broadly welcomed, the past week has seen some opposition.

The Irish government is reportedly planning a major lobbying effort to see its 20 per cent emission reduction target watered down after prime minister Bertie Ahern said the goals raised "very serious economic and social issues for Ireland".

Similarly, the Danish government, which has also been asked to deliver a 20 per cent cut in emissions, complained it had been harshly treated in the allocation of targets, while German Economy Minister Michael Glos voiced fears that the proposals would lead to major job losses.

However, Lambert insisted that despite his concerns over the 2020 targets he still felt longer term targets could be met and praised the European emissions trading scheme as the best means of delivering the transition to a low carbon economy. "It is the best show in town," he said. "Let's support it and make it better."

The CBI has been a vocal supporter of the cap-and-trade scheme, claiming that despite teething problems it should "help create the effective carbon market that firms need to plan and invest in new, greener technologies".