This chapter develops the contours of a historical materialist theory of transnational law, reviewing the elements of critical theory in immanent critique and dialectical materialist analysis of dominant theories and practices in international relations and international law. The analysis reveals deep contradictions and antinomies between dominant theories and actual practices. Antinomies between politics and economics, states and markets, public and private spheres, and hard and soft laws sustain structural separations that protect transnational corporations and corporate power from political accountability, as the latter are shielded in the domain of private politico-legal production and exchange. The chapter explores the emancipatory potential of transnational law and practice to overcome these structural separations, arguing that only a critical political economy approach to the environmental crisis can address the blind spots of corporate irresponsibility and unaccountability and reveal the commodity form of law at work in the creation of these blind spots.