The Australian state of Victoria is going ahead with its first petroleum exploration tenders in seven years in an attempt to head off looming gas supply risks as production from existing fields declines.

Vulcan Energy Resources Ltd. secured a A$3.9 billion ($2.5 billion) financing package for a lithium project in Germany that will use geothermal power.

Australia warned it’s in danger of missing its 2035 climate targets without deeper pollution cuts, which in turn threatens the nation’s ambitions to reach net zero by mid-century.

Australia is set to pass a landmark bill that will overhaul its environmental laws after Prime Minister Anthony Albanese’s government secured support from the left-wing Greens party on the last sitting day of parliament for the year.

Well, at least one important decision has been squared away at COP30. After a game of chicken over who would host next year’s climate talks, Turkey has prevailed over Australia. The latter will still have a role, though, and today’s newsletter breaks down how things will work. Protip: Book your hotel now.

Turkey is set to host the flagship United Nations climate change conference next year, beating Australia following a protracted contest between the two countries.