The Metaverse, an expansive virtual ecosystem integrating augmented and virtual realities, presents both significant environmental challenges and opportunities for sustainability. This paper explores the ecological impacts of virtual worlds, including high energy consumption, carbon footprints from data centers and devices, and e-waste generation. It examines sustainable practices such as adopting renewable energy sources and energy-efficient technologies to mitigate these effects. Technological innovations, including blockchain and NFTs for carbon offsetting, AI-driven resource optimization, and low-energy computing, are highlighted as tools to enhance environmental responsibility. Social and economic implications, such as the digital divide and inclusivity issues, are discussed alongside regulatory frameworks for global standards and compliance. Case studies of green virtual events and best practices demonstrate practical applications, while emerging trends in green technology point to future directions. Drawing on interdisciplinary literature, the study calls for collaborative efforts among governments, industries, and users to build a sustainable Metaverse that minimizes real-world harm and leverages digital platforms for environmental awareness and innovation.