A proper, sustainable, environmentally friendly and also satisfactory to the customer, is a design which is designed to last maybe double the "expected" lifetime, or enough for say 99% of the customers, but no more; and then, all parts start failing approximately at the same time, so that the whole product can be replaced. This minimizes waste.
Needless to say, such engineering is very challenging, but I think Toyota for example has traditionally nailed it, making cars that have room for 200 000km in the maintenance logbook (so this is clearly the "design" lifetime), actually last for 350000-400000km with minor maintenance, then finally starts to rust through everywhere approximately at the same time. (Don't know if that's true anymore. Was true for my 1988 model which I finally got rid a year ago.)
Only few can do it.
For the rest of us, we need to calculate in larger margins. And be prepared to still have issues of premature failure. The key is not to change too much all the time, but learn from the previous product generations: just fix things that were failing early by looking at warranty repair statistics, or customer feedback if it's a throwaway product.
What many laymen and even some engineers consider "good engineering" is often a disaster consisting of some parts massively oversized to last for 1000 years, while some parts require constant maintenance. People who respect products like that like maintenance work; they think it's a good feature that "you can repair the product", "it's not a throwaway junk", "look how sturdy it is" (by looking at some overengineered visible part). What they miss is that the product would be much better if it was engineered not to require repairing at all! Being able to fix the broken piece of junk makes them happy, but majority of people will just throw it away and buy a new one if it's something say less than $1000-$2000 in value.