Australia will set up a A$100 million a year carbon capture research institute aimed at fighting climate change and becoming the world hub for the technology

Prime Minister Kevin Rudd said that he would seek international backing for the institute at an address to the United Nations General Assembly in New York next week.  "We, the government, want this global carbon and storage institute in Australia to be the global go-to place across the board for clean coal technologies and their application. That is the ambition. … So we will be providing up to $100 million a year to fund this global carbon capture and storage institute." he said.

The new institute would start out in Australia with the objective of helping meet the G8 commitment to have at least 20 industrial scale carbon capture and storage projects in operation by 2020. UK Prime Minister Gordon Brown had already offered support, Mr Rudd said.

Currently, there are five pilot carbon capture and storage projects worldwide, including one at Otway in Victoria. "A lot of good work is going on out there, but it’s not very coordinated," Mr Rudd said.