Clean coal power generation will not be commercially worthwhile unless the carbon price reaches $60 a tonne.

The government's global carbon capture & storage institute also said that under the existing conditions carbon would take more than 20 years to hit a level of $60 a tonne.

Speaking his mind, CEO of Global CCS Institute Nick Otter, said, "The CO2 price now is not capable of taking the technology forward."

As per the institute's new audit, just 7 out of more than 200 clean carbon projects are active all over the globe.

At the time of launching the institute in April, Kevin Rudd said that coal would remain a key source of power generation for many decades to come.

The EU is also working hard to cut down Carbon emissions. The EU is committed to a 20 per cent carbon reduction on 1990 levels by 2020.