Adelaide will not be the venue for next year’s COP climate summit, as the Australian federal government has been unable to resolve its impasse with Turkey, a competing bidder.

According to 9News, Australian officials have admitted that COP31 will not take place in the South Australian capital as initially hoped.

It is reported by 9News that while discussions are ongoing to ensure a role for Pacific nations, Turkey is expected to secure the position as the host country.

The conference was anticipated to attract nearly 50,000 participants to Adelaide for a fortnight of discussions and seminars.

In preparation for the event, both federal and state governments had already invested millions of dollars, including forming a specialized police squad to handle security arrangements.

This afternoon, Treasurer Jim Chalmers assured that Australia will maintain its involvement in the summit, irrespective of where it is ultimately held.

“We are trying to get the best outcome here for the planet and for the global economy and regardless of where it is held, we will continue to play a leadership role in that,” he said.

COP31 was predicted to cost Australia more than $1 billion, but would have brought South Australia close to half of that in economic revenue.

It’s unclear whether the millions already spent can be used for another major event in Adelaide.