This issue brief outlines a business approach that goes beyond short-term success and aims at long-term value creation: life cycle management. It gives examples of how global businesses are using it to reduce, for instance, their products’ carbon, material and water footprints, as well as improve the social and economic performance of their offerings in order to ensure a more sustainable value chain. These efforts improve a company’s performance, strengthen corporate credibility and stakeholder relations and enhance shareholder value.