The COVID-19 pandemic plus the underlying trends of worsening inequality and climate crisis have forced business leaders to question how they operate: who they serve and how they create value for these constituents. Leaders are increasingly recognizing that for a business to succeed over the long term, it must provide profitable solutions that positively affect all stakeholders. This fundamental approach to decision-making in the boardroom – connecting value creation and stakeholder outcomes – lies at the heart of stakeholder capitalism. This report puts forward recommendations for companies to achieve effective stakeholder governance to assist them in dealing with the impact that stakeholder capitalism might have.