Overview
The climate warming caused by human action, principally through emissions of greenhouse gases, with global surface temperature reaching 1.1°C above 1850–1900 in 2011–2020, is currently undeniable (IPCC, 2023). The Paris Agreement represents an important step, aiming to keep the increase in the global average temperature below 2 °C, in relation to pre-industrial levels, setting the limit for the temperature increase at 1.5 °C (UNFCC, 2015). In the energy sector, the GHH emissions is almost 75% of global emissions (IEA, 2021), and its matrix is made up of 83% of fossil fuels, of which oil and gas represent 56% (BP, 2021). Thus, the climate emergency requires an energy transition towards a cleaner matrix.There are many options for decarbonising the energy sector – increasing the use of renewable energies; electrification of the economy; use of emerging technologies (CCUS); use of sustainable hydrogen; offshore wind energy production; and construction of modular nuclear power plants. However, there is still enormous uncertainty regarding the promotion of these actions. Considering the challenge and complexity of regulating actions related to the energy transition, this article proposes that States adopt the model of New Transnational Governance, designed by Abott and Snidal (2009) to face this regulatory challenge. It should be noted that to adopt the New Transnational Governance model, it is necessary to understand regulation in a broader way, different from the traditional understanding, which only recognizes the legal rules originating from a nation-state in a centralized and hierarchical way, based on positivist doctrine. Regulation will be considered in this article in the context of a transnational legal order (TLO), as proposed by Halliday and Shaffer (2015). The TLO would be formed by national, international, and non-state rules, called by these authors transnational rules. Based on the new transnational governance model, all stakeholders involved in the energy transition process in the oil and gas sector – state and nonstate actors - will be able to act collaboratively, under state orchestration, and thus arrive at adequate regulatory solutions that make the energy transition possible in time to avoid disastrous consequences for humanity. The adoption of the new model of transnational governance and TLO approach for dealing with the energy transition can contribute to reaching an adequate regulation for energy transition actions in a reasonable time.
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