Australia has suffered a major climate setback, losing its bid to host next year’s COP summit in Adelaide. At the same time, the Coalition has reignited Australia’s climate wars by abandoning its commitment to net zero emissions by 2050 – a reversal that resets the political debate just as the world pushes for faster decarbonisation.

In this episode, Rebecca Jones asks Bloomberg’s David Stringer to unpack what the failed COP bid means for Australia’s international standing, how the Coalition’s shift could shape the next election and what renewed climate volatility means for investment, energy transition plans and ultimately your power bill.