Climate change is undoubtedly one of the biggest challenges of our time. Its urgency is demonstrated time and again by the ever-increasing number of extreme weather events and natural disasters. Without a significant reduction in greenhouse gas emissions the consequences might become devastating. Because natural phenomena do not stop at national borders, climate change bears one very important characteristic: it is a global problem that needs global answers. It would be far too optimistic to hope for a voluntary commitment from national governments and global corporations to reduce emissions in order to curtail the effects of climate change. Therefore, it is high time for effective global climate governance.