BSR | ADVANCING THE SDGs THROUGH COLLABORATION Lessons Learned from the Program 1 Striking the right balance The framework is particularly useful in the between participation context of business-led collaborations, in which and decision-making: companies can decide whether to open the collaboration and governance seats to other Good governance is a fundamental aspect of stakeholders. For example, the Sustainable collaboration as it enables successful partnerships, Coconut Partnership makes decisions via a fair decision-making, and transparency about steering committee made up of industry/ the roles and responsibilities of actors involved business members but allows participation of in collaborations. In addition, good governance diverse stakeholders in the collaboration. There creates legitimacy. Based on its work with the is no one-size-昀椀ts-all approach to governance, CoLab SDGs program, BSR has developed a and governance models need to be carefully governance framework that is based on two designed based on the vision, mission, intended factors—decision-making and participation— outcomes, and participants of the collaboration. 10 and results in four distinct governance models. BSR COLLABORATION GOVERNANCE FRAMEWORK Multi-Stakeholder Multi-Stakeholder Decision-Making & Decision-Making & AKEHOLDERS Direct Participation Representative Participation T AKING S M CISION- S DE ANIE Company Company MP Decision-Making & Decision-Making & O Direct Participation Representative Participation C DIRECT REPRESENTATIVE PARTICIPATION 10 Advancing Multi-Stakeholder Collaboration: Four Governance Models for Business | Blog | Sustainable Business Network and Consultancy | BSRFund 11