The chapter centres on how NATO, the only and sole military alliance of a global nature, has evolved institutionally in its responses to emerging threats in the post-Cold era. Methodologically, the chapter is based on a discourse analysis of the strategic concepts adopted by NATO in this period. With the disappearance of the Cold War strategic setting, NATO and the allies have gradually developed new sets of policies, based on a process of securitisation and the ensuing conceptualisation of various issues defined either as threats, risks or merely challenges. This evolution has led to a gradual transformation in NATO frameworks, which was supported by collective identity building as well. To the extent the allies could build a collective identity via a process of securitisation, NATO has become more attentive and involved institutionally in this realm. Thus, for NATO’s preparedness to better counter emerging threats of all sorts, academic studies utilising social constructivism should also be encouraged, which underscore the importance and role of constructing collective identities.