A general methodology is proposed for implementing waste minimization programs. This paper focuses primarily in the evaluation of source reduction alternatives using a two criteria approach. The first criterion considers the economic performance of the process that includes all the waste related costs within an environmental accounting framework. Whereas the second criteria evaluates the environmental impact of the alternative taking into account a release factor, as well as toxicological data for each chemical present in the process stream. Realizing the uncertainty present in the evaluation of potential source reduction projects, the evaluation phase is accomplished using a multiple objective optimization approach by combining the compromise programming method and the stochastic annealing algorithm using the process simulator ASPEN PLUS. As an example, the methyl chloride process is evaluated using the proposed methodology.