Methods for life cycle assessment of products (LCA) are most often based on the general prevention principle, as opposed to the risk minimization principle. Here, the desirability and feasibility of a combined approach are discussed, along with the conditions for elaboration in the framework of LCA methodology, and the consequences for LCA practice. A combined approach provides a separate assessment of above and below threshold pollution, offering the possibility to combat above threshold impacts with priority. Spatial differentiation in fate, exposure, and effect modelling is identified to play a central role in the implementation. The collection of region-specific data turns out to be the most elaborate requirement for the implementation in both methodology and practice. A methodological framework for the construction of characterization factors is provided. Along with spatial differentiation of existing parameters, two newly introduced spatial parameters play a key role: the sensitivity factor and the threshold factor. The practicability of the proposed procedure is illustrated by an example of its application. Providing a reasonable data availability, the development of separate LCA characterization factors for the respective assessment of pollution levels above and below environmental threshold values seems to be a feasible task that may add to LCA credibility.