Concrete is one of the most consumed construction materials in the development of built infrastructure, with an annual production of about 30 billion tons globally. However, the production of Portland cement, which is a key ingredient of concrete and imparts strength and stability, has a significant carbon footprint; each ton of cement production is associated with 0.9 tons of carbon dioxide emission. Globally, cement production accounts for 7% of anthropogenic carbon dioxide emissions. Overall, the manufacturing of a normal-strength concrete mixture results in the emission of about 300 kg of CO2 per cubic meter of concrete, and 90% of it is associated with cement manufacturing. Cement production is also an energy-intensive process, with 4 GJ of energy consumption against each ton of cement production. Cement also accounts for about 55% of the initial cost of concrete and is thus its costliest constituent. This study presents the economics, environmental benefits, and energy efficiency of a sustainable concrete produced with partial replacement of Portland cement with ground granulated blast furnace slag (GGBFS) which is a byproduct of the iron industry. Material input assessment of this innovative concrete shows that if 20 wt% of cement is replaced with GGBFS, it will result in a 6.32% reduction in cost, an 18% reduction in energy consumption, and up to 22% reduction in carbon dioxide emission per cubic meter of concrete. The fact that the GGBFS-based sustainable concrete develops strength at par to that of concrete produced with Portland cement enables a seamless transition to concrete production incorporating the value-added use of an industrial byproduct. It is estimated that the adoption of this technique by the concrete industry on a commercial level will result in major energy and environmental gains, besides the production of significant economical concrete.