This study outlines the results of a process-based life cycle assessment (LCA) of the environmental performance of biogas production from co-digestion of palm oil mill effluent (POME) and concentrated latex wastewater (CLW) in the two-stage anaerobic digestion (AD) process. Biogas is utilized global across several sectors, including electricity generation, heating, and transportation. The Open LCA 2.0.2 software was used to evaluate the LCA at the midpoint level by using 18 different impact categories. This study reveals the three main contributions of the AD process, which were global warming (8.65 × 102 kg CO2eq), water consumption (5.32 m3), and land use change (3.39 × 102 m2 a crop eq), this result corresponded with the previous study in Malaysia that examined biogas production from the AD of POME In addition, alternative scenarios, in which a single substrate, have been established to quantify the impacts of potential improvements of biogas production to compare with base scenario of co-digestion. The results show that the environmental impacts of the base scenario released were lower than those of the single POME substrate of alternative scenario 1 in most impact categories. Furthermore, economic analysis is a crucial factor in the practical implementation of the AD process. Linking LCA with economic analysis offers a comprehensive perspective on sustainability, balancing environmental impacts with financial performance to optimize the potential of the AD co-digestion process. This is the first study to apply LCA and economic analysis to this specific co-digestion process in a two-stage AD system. The economic analysis of the two-stage AD of co-digesting POME and CLW was 1200 m3/d production of wastewater (70 % of POME and 30 % of CLW) based on the factories' data. The result indicates net present value, internal rate of return, and payback period of 515,813.94 USD, 9.13 %, and 8.87 years, respectively. This work proposed the potential approach for implementing the two-stage AD co-digestion of POME and CLW while concurrently producing valuable bioenergy carriers.