The lack of consensus on global governance is meaningful in the light of the growing denial for multilateral solutions. In such a context, cross-border challenges such as environmental damage and the production of energy often associated with it may be better tackled through domestic and/or bilateral solutions. This is not to mention, of course, the possibility of establishing informal arrangements with more than two parts. Regardless of the format, however, there is enough evidence that decentralization rather than multilateral coordination has become the trend in the field. The panel explores the political and economic trade-offs that decentralized solutions to address climate change while balancing it with the growing demand for energy from both emerging and established markets. International organizations still matter for both, yet supplemented by informal interstate arrangements and national-based responses.