The paper contributes to the debate on the holistic sustainability assessment of real estate projects, integrating economic, financial, environmental, and social aspects. A methodological study is presented to support decision-making processes involving the preferability ranking of alternative investment scenarios: new building production vs. retrofitting the existing stock, in the context of urban transformation interventions. The study integrates life cycle approaches by introducing the social components besides the economic and environmental ones. Firstly, a composite unidimensional (monetary) indicator calculation is illustrated. The sustainability components are internalized in the NPV calculation through a Discounted Cash-Flow Analysis (DCFA). Life Cycle Costing (LCC) and Life Cycle Assessment (LCA) are suggested to assess the economic and environmental impacts, and the Social Return on Investment (SROI) to assess the intervention’s extra-financial value. Secondly, a methodology based on multicriteria techniques is proposed. The Hierarchical Analytical Process (AHP) model is suggested to harmonize various performance indicators. Focus is placed on the criticalities emerging in both the methodological approaches, while highlighting the relevance of multidimensional approaches in decision-making processes and for supporting urban policies and urban resilience.

The textile and clothing (T&C) industry, despite its significant contribution to the European economy, is one of the most polluting industries globally. Therefore, the EU's Green Deal has identified the T&C sector as a strategic area for allocating public funding and transitioning towards a circular economy (CE). In this context, the “Circular Design for Natural Fibers” project, financed by the PNRR MICS “Made in Italy Circolare e Sostenibile” programme, focuses on enhancing the use of natural fibrous material, related by-products and waste from local production chains. In the research, a crucial aspect is the evaluation of the effectiveness of circularity through life cycle approaches, such as LCA, LCC, S-LCA and LCSA, for environmental, economic and social sustainability evaluation, respectively. A systematic review was carried out, to provide a synthesis of the available scientific evidence regarding the life cycle approaches in the international/national context within the production, processing, and post-consumer supply chains of natural fibers. The study identifies gaps in the literature on life cycle evaluation approaches for natural fibers. Specifically, the LCA approach appears preponderant compared to the others. The paper offers insights for researchers and professionals interested in improving the sustainability of natural fiber production processes and the evaluation of their overall sustainability.

This paper builds on research from a project aimed at promoting the circular economy through processes based on low-impact materials derived from natural fibers. A methodology is developed to assess the economic, environmental, and social sustainability of alternative production scenarios, thereby supporting the ranking of options. Assuming the principles of Life Cycle Thinking and circular economy and the operational aspects of Life Cycle Costing (LCC), Life Cycle Assessment (LCA), Social Life Cycle Assessment (S-LCA) approaches normed by international standards, an integrated approach is proposed based on the construction of a joint Global Cost indicator. Attention is paid to harmonizing impacts assessed in their own units of measurement to arrive at a monetary indicator for summarizing and simplifying the prioritization of alternatives. As a result, the integrated Global Cost calculation methodology is presented to internalize social and environmental impacts, as well as economic ones, and to evaluate the sustainability of materials derived from primary and waste natural fibers.