<p>This study examines the multidimensional challenges and opportunities in waste management, highlighting its crucial role in sustainable development. Through a systematic literature review following the preferred reporting items for systematic reviews and meta-analysis guidelines and analyzing publications from 2016 to 2024, identify emerging trends and best practices across environmental, social, economic, and governance domains. Global waste generation continues to increase alarmingly, with complex waste streams posing unprecedented challenges to existing infrastructure. Our analysis reveals promising technological innovations, including waste-to-energy systems, AI-based sorting, advanced recycling, biological treatment processes, and smart waste management solutions integrated with Internet of Things and data analytics. We evaluate these approaches through Life Cycle Assessment methodologies, examining both environmental impacts and economic considerations. The research emphasizes the importance of policy frameworks, from international agreements to local initiatives, and highlights behavioural change and community engagement as critical success factors. Finally, we demonstrate waste management's potential for job creation and socioeconomic benefits, transforming an environmental challenge into an opportunity for sustainable development. This holistic assessment provides actionable insights for policymakers, researchers, and practitioners dedicated to advancing sustainable waste management practices.</p>