Purpose The author aims to study and predict the sustainability governance performances of firms using an advanced grey prediction model. The case implication of the prediction model is also studied considering select firms in the Indian context. Design/methodology/approach The author has proposed an advanced grey prediction model, the first-entry grey prediction model (FGM (1, 1)) for forecasting the sustainability governance performances of firms. The proposed model is tested using the periodic data of sustainability governance performances of 10 Indian firms. Findings The author observes that the majority of firms (6 out of 10) show dipping performances for sustainability governance for the future predicted period. This throws insights into the direction of improving good governance practices for Indian firms. Practical implications The idea and motivation for sustainability-focussed governance need a bi-directional focus from the side of managers that act as the agents and from the side of shareholders that act as the principals, as seen from an agency theory perspective for sustainability governance. Social implications Sustainability governance culture can be inculcated to a firm at the strategic level by having a bi-directional focus from managers and shareholders, so as to enhance the social and environmental sustainability performances. Originality/value The governance performance evaluations for firms particularly in developing countries were not dated back more than a decade or two. Hence, the author implements a prediction model that can be best suited, when there are small periodic data sets available for prediction.