As the use of manufactured nanomaterials continues to grow internationally, policymakers, regulators, and key stakeholders in industry need to foster governance for such materials and their resulting products. Various stakeholders in government and industry have traditionally employed risk assessment quantifying material hazard, exposure, and effects assessments based upon available measurable data to derive safe exposure limits and acceptable environmental releases. This approach forms the foundation of risk-based governance. However, where manufactured nanomaterials do not have robust quantitative data to populate models for evaluation of hazard, exposure and effects, an alternative set of tools is needed for nanomaterial governance. One option is governance using holistic, multi-criteria approaches, which comparatively review risks, benefits, and other implications of nano-enabled products against conventional alternatives. Such multi-criteria approaches are in line with recent calls for research by the European Commission, and are increasingly discussed in scholarly literature. Based upon the needs and legal regulatory requirements of a given stakeholder, risk-based or multi-criteria tools can help inform nanomaterial assessment and decision making. Published by Elsevier Ltd.