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Australia's new global institute designed to clean up coal has won substantial backing from world leaders in their attempt to reduce greenhouse gas emissions.
The leaders of the G8, meeting in Italy this week, agreed that developed countries should cut emissions by 80 per cent by 2050, 20 per cent higher than Australia's commitment.
Australia is also aiming for a minimum five per cent reduction by 2020, which can be lifted to 25 per cent, depending on international outcomes.
Mr Rudd says those targets are 'entirely appropriate'.
'(They) are entirely consistent with the global mainstream,' he told ABC Radio from Italy where he is attending the Major Economies Forum.
The forum is aiming to kickstart negotiations on a new global climate pact that will be negotiated at UN talks in Copenhagen at the end of the year.
That pact will depend on China and India coming on board, Mr Rudd said.
'The critical missing element in this equation is what commitments will be taken up by the major emerging economies.'
The bulk of future greenhouse gas emissions would come from the major emerging economies, he said.
A new global institute, established by Australia to speed up the development of carbon capture and storage technology, would also help developing countries manage emissions.
Meanwhile, Australia's new global institute designed to clean up coal has won substantial backing from world leaders in their united attempt to reduce greenhouse gas emissions.
US President Barack Obama stood alongside Kevin Rudd as the prime minister launched Australia's Global Carbon Capture and Storage Institute (GCCSI) on the world stage after crunch talks on climate change with leaders from 15 other nations in L'Aquila, Italy.
The project, which the federal government announced in April, has been backed by 22 developed and developing countries for its ability to play a key role in reducing the world's reliance on coal to drive electricity.
Mr Obama told reporters at a joint press conference with Mr Rudd the leaders at the Major Economies Forum (MEF), which was held on the fringes of the G8 summit, had resolved to join forces to drive the development of clean carbon technologies.
'Our goal is to double the research and development investment we need to bring these technologies to market to achieve our long-term energy and emissions goals,' Mr Obama said.
'A number of countries have already agreed to take the lead on developing particular technologies, including solar.
'Australia, for example, is creating a new centre ... (which) I think points to the ability for us to pool our resources in order to see the technological breakthroughs that are going to be necessary in order for us to solve this problem.'
The main role of the Canberra-based GCCSI will be promoting large-scale research programs on how carbon emissions from coal-fired power stations can be captured and buried underground to help make coal more greenhouse-friendly.'
