[stoo-erd-ship, styoo-]
the position and duties of a steward, a person who acts as the surrogate of another or others, especially by managing property, financial affairs, an estate, etc.
the responsible overseeing and protection of something considered worth caring for and preserving: New regulatory changes will result in better stewardship of lands that are crucial for open space and wildlife habitat.

steward + -ship

understewardship, noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
steward (ˈstjʊəd)
1.  a person who administers the property, house, finances, etc, of another
2.  a person who manages the eating arrangements, staff, or service at a club, hotel, etc
3.  a person who attends to passengers on an aircraft, ship or train
4.  a mess attendant in a naval mess afloat or ashore
5.  a person who helps to supervise some event or proceedings in an official capacity
6.  short for shop steward
7.  to act or serve as a steward (of something)
[Old English stigweard, from stig hall (see sty) + weardward]

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Example sentences
The empty niches had to be constrained to preserve the predictability necessary
  to either land stewardship or capital formation.
Now is certainly not the time to be scaling back our outreach and stewardship
It's always politics, ignorance and greed pushing no legislation and bad
Furthermore, corn refiners are leaders in environmental stewardship.
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