This study introduces a multicriteria assessment framework designed to accelerate the adoption of bio-based materials in the construction sector by systematically evaluating their value and impact compared to conventional materials. Bio-based materials, such as those derived from hemp, bamboo, and timber, offer considerable potential to contribute to a regenerative, net-zero built environment that enhances occupant health, supports local economies, and reduces environmental impacts. However, their adoption remains limited due to persistent barriers, including stakeholders’ resistance, insufficient market awareness, higher costs, and technical challenges. To address these issues, this research develops a streamlined assessment framework that evaluates the potentials and impacts of bio-based materials across five dimensions: human, social, natural, financial, and manufactured capital. The development methodology of the framework includes setting strategic objectives, defining key performance indicators (KPIs), and applying the framework to evaluate two bio-based construction systems developed by the SmartBioC research group - one fast-growing and one timber-bamboo - alongside a conventional system based on bricks and synthetic materials, as well as a system meeting Passivhaus energy standard. This comparative analysis employs a scoring mechanism to quantify and highlight the advantages and trade-offs of each system. Preliminary findings suggest that bio-based materials, particularly fast-growing ones, deliver broader and more balanced benefits across the five capitals compared to conventional construction materials. Future work will focus on refining the framework by incorporating stakeholder feedback to enhance its applicability and foster the broader integration of bio-based materials within the construction industry.