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Until now, classic investment appraisal approaches have exclusively focused on financial success. However, with the rising interest in and need to deal with sustainability, social and ecological aspects have to be considered in investment decisions. The aim of this paper is to present a systematically developed and applicable investment appraisal model, that will not only include financial aspects, but will cover sustainability issues as well by applying the concept of the triple bottom line. Thus, eight controlling and sustainability experts coming from backgrounds of academia and departments of small to medium sized companies in Germany were questioned in semi-structured interviews regarding their perceptions and requirements for a sustainability driven investment calculation model. As a result, there was no common consensus about how to integrate sustainability into an investment evaluation. Even though, sustainability is anchored in the strategy of many companies, clear guidance on planning and control are often missing. The interviewees expressed a need for a simple calculation model adoptable to each company's strategy making it flexible in terms of inclusion of sustainability factors and in weighing up between economic success and sustainability. Literature review and interview results lead to a systematic four-step framework. A materiality analysis will be used to detect relevant financial, ecological, and social features addressed by a potential investment. These features will be listed, measured, and ranked. By applying this approach, a multi-dimensional investment strength profile can be created for each investment alternative. This will then be forming the base for the ability to make solid investment decisions based on the triple bottom line. This paper presents an approach that needs to undergo further testing in practice for it to be verified as a generic framework. Further research is also needed to develop instruments particularly for social features to allow a more precise measurement. [ABSTRACT FROM AUTHOR]