This article is to present and review the objectives, processes and outcomes of the United Nations Conference on Sustainable Development (UNCSD) held in Rio de Janeiro, Brazil, June 20-22, 2012. While the outcome document of the conference, "The Future We Want", addressed most of the demands of the developing and emerging countries, there are many among the nations and other stakeholders who have expressed their deep criticism for not going far enough and being too vague to implement such principles. The "historical opportunity to define pathways to a safer, more equitable, cleaner, greener and more prosperous world for all" is said to be passed away. However, this result is reflecting the real politics of the international negotiation on sustainable development issues. Brazil, the host country had proposed the compromise text shortly before the beginning of the conference, and succeeded in reaching an agreement in Rio. The outcome document reflects, thus, a lowest common denominator of international interests in conflict. The 10 Year-Framework Plan on Sustainable Consumption and Production Pattern is one of the rare initiatives adopted with concrete objectives and means of implementation and this is expected to be of very important milestone for development and diffusion of life-cycle approach and in greening the global economy. Brief presentation of historical background and the meaning of the Rio+20 conference is followed by a detailed analysis on the outcome and the 10YFP-SCP.