Sustainability is a multifaceted concept, particularly within the realm of higher education. In this context, it is linked to the role that Higher Education Institutions (HEIs) play in advocating for sustainable practices aligned with the UN sustainable development goals. Conversely, it also pertains to the adoption of sustainable approaches within HEIs own activities. This paper deals with a very specific aspect of sustainability-related practices in higher education, that of governance models and how that influences and determines the overall sustainability of a Higher Education Institution. Based on the exemplary case study of FilmEU, one of the new “European Universities” promoted and funded by the European Commission, we argue that the design of more participatory and distributed governance models is essential for the overall sustainability of HEIs and a catalyzer of sustainable practices across higher education.