In this work, a holistic exergetic-based framework was developed to assess the sustainability and productivity of a batch bioreactor used for ethanol production by ethanolic fungus Mucor indicus. Analyses were carried out in order to identify the most exergetically-sustainable concentration of phosphorous compound to produce ethanol and biomass. The microorganisms were aerobically cultivated using glucose as carbon source at various phosphate concentrations ranging from 0.0 to 7.5 g/L. The results obtained showed that the exergetic parameters of the fermentation process were remarkably influenced by the concentration of phosphate. Generally, the findings achieved revealed 3.5 g/L phosphate concentration as the most optimal fermentation condition from the exergetic point of view. Under this condition, the process exergetic efficiency and normalized exergy destruction as decision making parameters were found to be 53.42% and 0.48 kJ/kJ product, respectively. Moreover, the rational and process sustainability indexes for this concentration were determined at 3.92 and 2.15, respectively. The developed framework could be easily transplanted to evaluate the renewability of various lab-scale biofuel production processes to meet the goals laid forth for sustainable development.