Assessing the sustainability of the innovation portfolio is a particular challenge for industries. The two main issues are the lack of data at the early stage of project development and the high number of ideas and projects that are developed. This paper provides an overview of the I2P³® process (Idea to People, Planet and Profit®) which was developed by Evonik Creavis GmbH, the strategic innovation unit of Evonik Industries AG, in order to integrate sustainability into its innovation process. This process is based on a holistic approach to assess the three dimensions of sustainability (economical, environmental, and societal). The paper includes a detailed description of each stage of the process, with the categories and criteria used to assess these three dimensions, from idea generation to market launch. Following this, difficulties faced in the implementation process and improvement options are discussed.