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{{#Badges: Show badges| CoalSwarm|Navbar-cleancoal}}The '''Global Carbon Capture and Storage Institute ''' was announced in September 2008 as a global initiative by the Australian Prime Minister, [[Kevin Rudd]] and the Resources Minister, [[Martin Ferguson]]. Announcing that the Australian government would invest $100 million a year in the institute, Rudd stated that a global plan on climate change "must deal with carbon capture and storage. Unless we deal with coal we are not dealing with a core part of the challenge." Rudd claimed that CCS had the potential to capture nine billion tonnes of carbon by 2050 which would represent approximately 20 per cent of the total reduction required to limit atmospheric greenhouse gas levels at 450 parts per million. "We have got to crack the whip and make it happen," Rudd stated.<ref>[http://www.smh.com.au/news/environment/global-warming/rudds-100m-climate-hq/2008/09/19/1221331158264.html "Rudd's $100m climate institute"], ''Sydney Morning Herald'', September 19, 2008.</ref> <ref>[http://pandora.nla.gov.au/pan/79983/20081112-0133/www.pm.gov.au/media/Interview/2008/interview_0486.html "Press Conference with the Minister for Resources, Energy and Tourism, Martin Ferguson"], Parliament House, Canberra, 19 September 2008.</ref>