While Rudd earlier called on international negotiators to forge ahead with "fresh political momentum" in the lead-up to the meeting, he predicted the road ahead is likely to be "rough and bumpy."
Rudd said both developed and developing countries need to work together to form an agreement that would deliver "a decent outcome for the planet."
"This is serious stuff. The clock is ticking. There is no time to be wasted," Rudd told reporters in Sydney.
Gore was more optimistic about a successful outcome at the climate change conference in Copenhagen in December.
"I hope that the other leaders around the world will take up Prime Minister Rudd on his suggestion that heads of state meet personally and really grapple with a solution to the political impasse globally," Gore said.
He said progress has already been made at the Group of Eight summit held last week in Italy, while recent legislation passed in the U.S. House of Representative is awaiting approval by the Senate.
The Nobel Peace Prize recipient also praised Australia's Carbon Pollution Reduction Scheme, which is facing staunch opposition in the Senate.
The Australian scheme would require businesses to offset their emissions by purchasing carbon pollution permits.
The pair agreed the impact of climate change would be felt most severely in Australia, the driest continent on earth.
"No nation is more vulnerable to the impact scientists have predicted and no nation has greater renewable energy resources and a greater capacity to develop alternative sources of energy," Gore said.
Australia has a wealth of renewable energy sources, including solar power, geothermal technology and wind farms.
"Our challenge is to make maximum use of them (renewable energy sources) and also to be maximally active globally on bringing about reduction of greenhouse gas emissions," Rudd said.