Research and development of advanced rechargeable battery technologies is dominated by application-specific targets, which predominantly focus on cost and performance targets, including high gravimetric energy, volumetric energy, and related power densities, while ensuring a high safety and long lifetime. The need for high-performance and low-cost batteries is driven by the growing market of electromobility, in order to fulfill key requirements, such as a sufficient driving range and fast charging ability, for achieving broad consumer acceptance. Currently, the lithium ion battery (LIB) is one of the state-of-the-art technologies able to meet most of these key requirements at a reasonable cost. In addition to performance and costs, the environmental impact, i.e., the sustainability of the battery and in particular of the battery cell over the whole life cycle-i.e., from raw material extraction and battery material production, to cell and battery pack production, battery utilization, and to possibilities for second life usage and recycling-does receive continuously increasing attention. Within this review, different approaches for the development of "greener" batteries are introduced with a view on the complete battery life cycle, while focusing on the LIB technology. Moreover, alternative battery technologies are critically evaluated regarding their sustainability aspects and competitiveness.