This paper presents a qualitative sustainability assessment of an innovative, water-based, partially bio-based, and potentially removable screen-printing ink designed to replace conventional PVC-based inks in the textile industry. The assessment is conducted in alignment with the European Commission’s tiered Safe and Sustainable by Design (SSbD) framework, applying a simplified screening approach suitable for innovations with limited sustainability data availability. The evaluation is conducted using the LCBROM (Life Cycle Based Risk and Opportunity Mapping) methodology, which is a structured approach designed to identify potential environmental, economic, and social drawbacks and benefits throughout the product’s life cycle, from production and use to end of life. The screening incorporates the MET+Ec+S matrix (Material, Energy, Toxicity, and Economic and Social dimensions), providing a comprehensive overview of the sustainability performance of the removable PVC-free ink at each stage of its life cycle. The novel removable PVC-free ink formulation incorporates bio-based pigments, thickeners, and plasticisers, and is designed to facilitate recyclability and reuse in textile applications. Compared to traditional plastisol inks, the screening indicates potential reductions in toxicity and environmental persistence compared to PVC-based plastisol inks, subject to validation in future quantitative studies. However, key trade-offs include reliance on fossil-based ingredients (as bio-based alternatives are still being developed), increased material costs, and durability concerns. Despite these issues, the removable PVC-free ink’s compatibility with existing printing infrastructure and alignment with emerging EU sustainability regulations indicate its potential relevance for circular textile production, subject to validation through quantitative life-cycle assessment and pilot-scale implementation. The results do not constitute a quantitative life cycle assessment but instead provide a structured qualitative basis for guiding further development, data collection, and future LCA modeling. By explicitly positioning the work within a simplified SSbD tier, this study demonstrates how early-stage screening can support innovation design while transparently addressing uncertainty and trade-offs