The goal of our study was to investigate the potential benefits of reinforcing polymer matrices with nanoobjects for structural applications by looking at both the mechanical properties and environmental impacts. For determining the mechanical properties, we applied the material indices defined by Ashby for stiffness and strength. For the calculation of environmental impacts, we applied the life cycle assessment methodology, focusing on nonrenewable energy use (NREU). NREU has shown to be a good indicator also for other environmental impacts. We then divided the NREU by the appropriate Ashby index to obtain the ‘functionality-based NREU'. We studied 23 different nanocomposites, based on thermoplastic and thermosetting polymer matrices and organophilic montmorillonite, silica, carbon nanotubes (single-walled and multiwalled) and calcium carbonate as filler. For 17 of these, we saw a decrease of the functionality-based NREU with increasing filler content. We draw the conclusion that the use of nanoobjects as filler can have benefits from both an environmental point of view and with respect to mechanical properties.