Australia will pledge to double investment in clean energy research and development as part of a 20-nation program to be announced in Paris.
Prime Minister Malcolm Turnbull will join US President Barack Obama and other leaders in launching Mission Innovation at the UN climate summit on Monday.
As part of the plan, Australian government investment in clean energy research and development by 2020 will rise to about $200 million.
The plan involves 20 countries representing 80 per cent of global clean energy research and development budgets, each promising to double their spending over five years.
An independent private initiative known as the Breakthrough Energy Coalition - spearheaded by Bill Gates and involving 28 investors - will invest in early stage energy companies that emerge from the research programs of Mission Innovation countries.
A White House statement said the pace of innovation was falling far short of what is needed to stem emissions growth.
The participating countries include Australia, Brazil, Canada, Chile, China, Denmark, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Norway, Saudi Arabia, Sweden, the United Arab Emirates, the United Kingdom and the US.
Investors involved in the deal include Virgin, Facebook and Amazon.
The countries have also committed to regularly reporting on their progress towards the goals they have laid out as part of Mission Innovation.
Other countries may be invited to join.
The details of Australia's spending is expected to be laid out in next week's innovation statement.
