In the era of environmental sustainability, firms are put under pressure from the political and customers’ sides to act, particularly those in high feedstock and energy consuming sectors, like the chemical industry. A trend towards greener products is inevitably reaching intermediate sectors, so that sustainability reporting at product level arises as a necessity. Profound product footprint calculation lays the foundation for the definition of dedicated reduction targets and the development of climate-neutral products. In this article, we outline and compare two product footprint reporting frameworks: GHG Protocol’s Product Standard and the EU Commission’s Product Environmental Footprint, with the goal to provide firms in the chemical industry with guidance and insights on which aspects are more relevant and critical.