Sustainability has become a major global topic for the last two decades which creates opportunities as well as threats to corporations. In spite of the fact that the economic success of many companies has been influenced substantially by sustainability issues strategic management is very often neglecting the systematic consideration of sustainability issues in corporate practice. This contribution discusses the Sustainability Balanced Scorecard (SBSC) approach which has been developed in a two year project with seven large project companies. The SBSC approach supports a systematic identification of those environmental and social issues which are economically relevant for the company and helps to manage them in a value oriented way.