In an effort to maximize their national interests, states strategically choose to go into bilateral or multilateral negotiations, engage in forum-shopping to find rules that best suit their aims and form various types of coalition. For the promotion of sustainability, it is necessary to institutionalize rules, norms and agreements that restrict some of the freedom of self-interested states. It is not always a bad thing for states to restrict their own freedom through institutions, because international institutions among states can enhance the prospect of cooperation by decreasing transaction costs and uncertainties, avoiding moral hazard through monitoring, and raising the cost of deception (Keohane, 1984). A central question for global governance concerning the management of international coordination, therefore, is the degree of centralization: the extent to which states delegate their authority by creating informal or formal institutional structures, rules and procedures for decision-making, and voluntary or mandatory agreements.