Starting with a description of the meaning of sustainable coating nowadays, this review presents a selection of methods for sustainable coatings manufacture using raw materials, saving energy and costs. This selection creates an introduction for the coatings performances of intensively investigated coated alloys and their multifunctionality. There are many examples and EU recommendations to be discussed, and we especially chose to introduce sustainable coatings with both industrial and medical functions, such as bioinspired films and coatings on high-entropy alloys, biodegradable metallic alloys, etc. A special focus is on nanotechnology and nanomaterials in green procedures, enhancing coatings’ multifunctionality, introducing green corrosion inhibitors, smart additives, and coatings based on superhydrophobicity. The conclusions and future perspectives of sustainable and multifunctional coatings, as expressions of sustainable advanced materials, are based on important motivations of such studies.