Lately, we see a diverse range of global challenges mounting, from climate change to regional conflicts. Climate change is accelerating exponentially. Regional conflicts are raging in Eastern Europe and the Middle East without any prospective way out in sight. But global institutions are too incapacitated to mitigate these worsening risks. Despite the Paris Agreement, the United Nations Framework Convention on Climate Change lacks any binding power to enforce compliance. The U.N. Security Council has the binding power but has been in paralysis due to the veto power of its five permanent members (P5). The rekindled rivalry among the P5 debilitates any action to restore peace and stability with a damning impact on the credibility of global governance. Big power rivalries also auger ill for any international efforts to fill the normative gap of emerging technologies. Technological developments in artificial intelligence, biotech, outer and cyber spaces are leaping forward, while normative efforts to minimize negative risks are moving at a snail's pace.