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In the last few years, sustainability has become one of the most important topics in society, and consequently in management, due to its impact on everyone‘s life and on any kind of industry or business. And, as its own nature reminds us, sustainability is related to preserving the rights for future generations to have the same access to the resources as we do nowadays. Thus, it is possible to foresee the importance of take sustainability issues into consideration for innovation and technology management, in order to make it possible to guarantee or provide these conditions in the future, mainly if we keep in mind the importance and relevance of the satisfaction of the several organizational stakeholders. This paper aims to highlight some aspects related to sustainability regarding to innovation management, especially aspects and concepts related to portfolio management and to state some theoretical propositions that should reflect the relationships between sustainability and portfolio management. These propositions are launched to be tested in future studies and this paper aims to bring contributions and reflections on this relevant subject, linking different theoretical streams.