The international governance framework for industrial energy efficiency consists of soft legislation and nonbinding rules, norms and action plans to coordinate strategies, policies and programmes. International agreements on specific actions and global coordination of domestic policies should benefit countries in two ways - providing domestic initiatives with the stability that comes with international legitimacy, and enabling countries to learn from each others successes and failures in designing institutions and implementing practices (Sugiyama and Ohshita 2006). Reducing the risks of climate change (a product of perhaps the worst market failure ever) is the purest example of a public good - greenhouse gas emissions from any one country affect the atmosphere in the same way as those from any other (Stern 2006). Markets also fail to supply information to evaluate energy-saving opportunities.