Local Action Groups (LAGs) are partnerships between public and private entities in rural areas. They bring together municipalities, businesses, and community groups to define a shared vision for local development. LAGs use Local Action Plans to manage funds from the European Union and promote sustainable development. This collaborative approach fosters innovation and empowers local actors. It strengthens the public sphere, businesses, and the community, leading to new partnerships and development models that capitalize on local resources and opportunities. This contribution examines the case of the Tirreno-Eolie LAG, exploring how the Management Plan (MP) can be used to achieve sustainable development. The research examines how the plan’s strategies contribute to achieving economic growth, social inclusion, and environmental protection. The defined strategies, like long-lasting corporate governance, circular economy concepts, and biodiversity programs, all support economic growth through sustainable practices. Actions focused on environmental awareness and infrastructure renovation foster social inclusion and environmental protection. While these findings are preliminary, they suggest the MP acts as a tool for collaborative governance, potentially leading to achieving all three pillars of sustainability. The LAG’s experience with Environmental Governance (EG) serves as a potential guideline for other regions seeking collaborative management of their local territory and environment.