The adverse impact of chemical and biochemical waste on the environment and human health poses a serious challenge in today's World. The best way to address these challenges is to reduce the waste by developing more efficient processes and technologies, based on the principles of "green chemistry". Some of these synthetic approaches involving the chemoenzymatic synthetic methodologies are discussed herein. These lead to the formation of unique nanomaterials with diverse applications, such as drugs/gene delivery systems, flame retardant materials, conducting polymers, controlled release systems, diagnostic agents, and polymeric electrolytes for nanocrystalline solar cells.