Talk on energy has been a contentious one in all climate talks. It has been the source of climate challenge and also a key to climate change solution. So far, energy production through fossil fuels—coal, oil and gas—has been one of the major sources of greenhouse gas emission contributing to the global climate change. They account for over 75% of global greenhouse gas emissions and nearly 90% of all carbon dioxide emissions which have a catastrophic effect on the life on earth. Climate change has cross-border ramifications; it has a deep impact on life system across the globe. Developed and developing countries fight and indulge in politics as to the use of kind of energy, and access to resources. They blame each other as to the nature, cause and impact of climate change. Recognising the requirement of access to resources by all countries, especially developing countries, for the achievement of sustainable social and economic development, and to control greenhouse gas emission the United Nations Framework Convention on Climate Change (UNFCCC) 1992 came with the idea of “common but differentiated responsibilities” and called for all necessary action among the nations including technology transfer to countries dependent upon fossil fuels. But the desired energy transition has not happened so far putting the future of the planet to risk. Further, the process of globalisation and privatisation has added on to the problem by unregulated promotion of private corporations who flagrantly violate environmental norms with impunity across the globe. In the light of the above, this chapter aims at looking into a shift in the approach towards governance of global energy and orient it towards a common globalised perspective in contrast to the present nation-state perspective.