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Industrial ecology is a relatively new field of research and academic study and is well established in North America and in several Asian countries. However, it has not yet received the attention it deserves in some other important parts of the industrialized world, including Germany. This paper may contribute to a better appreciation of industrial ecology as a tool in the process of sustainable development of economies, social systems, and of aquatic and terrestrial biotopes under the pressure of rapidly changing conditions triggered by global warming and urban growth. For this reason, methods are needed to quantify the successful application of industrial ecology measures. The “Integrated Sustainability Triangle” is introduced as a promising new possibility of quantification and monitoring. It enables justification of the contributions industrial ecology can make to sustainable development. The aggregation of individual economic contributions is assumed to create an overall impetus to the entire industrial sector including the sector of environmental engineering. Thus, the potential of industrial ecology is discussed from the macro-economic and the engineering perspective using the concept of sustainable development as a guiding principle. But the authors come to the conclusion that finding solutions to the pressing problems of our time requires more than collaboration of economy and engineering. It requires joint efforts of the whole spectrum of scientific disciplines in close collaboration with industrial and political stakeholders.