It has been some 15 years since the topics of sustainability and nanotechnologies first appeared together in the scientific literature and became a focus of organizations' research and policy developments. On the one hand, this focus is directed towards approaches and tools for risk assessment and management and on the other hand towards life-cycle thinking and assessment. Comparable to their application for regular chemicals, each tool is seen to serve separate objectives as it relates to evaluating nanotechnologies' safety or resource efficiency, respectively. While nanomaterials may provide resource efficient production and consumption, this must balance any potential hazards they pose across their life-cycles. This Perspective advocates for integrating these two tools at the methodological level for achieving this objective, and it explains what advantages and challenges this offers decision-makers while highlighting what research is needed to further enhance integration.