I have been thinking about wax recently and getting some eco-wax in the shop. When I started doing some research into the different types of wax and the impacts they have on the environment it became clear how complicated it is to measure the impact of using different base materials for wax.
Sexwax have a great write up about on their website: www.sexwax.com/surf-wax-environmental/
Long story short it may not be any better for the environment to use soy based wax than paraffin based wax. Both us petrochemical components and processes to grow/extract and produce wax.
Have a read.