The ubiquitous nature of polymers have led to a widespread demand for sustainable polymers in numerous industrial applications. However, lack of well laid out guidelines, product development pathways and certifications have resulted in a lot of commotions and confusions within the polymer value chain. Herein, a meticulous review is conducted on the topic of polymer sustainability shedding light on the standards, product declarations, biobased-biomass concepts, product carbon footprint etc. It is critical that companies significantly contribute on such sustainability efforts in lieu of market readiness and competitive advantages. Any discussion within the sustainability horizon references a couple of terms/ abbreviations/concepts. In this article, such key terminologies and concepts related to polymer sustainability are reviewed with a holistic outlook on the widespread approaches within the polymer sustainability horizon.