The formal definition is: "Eco-efficiency is reached by the delivery of competitively priced goods and services that satisfy human needs and bring quality of life while progressively reducing ecological impacts and resource intensity throughout the life cycle, to a level in line with the earth's estimated carrying capacity".
Eco-efficiency combines environmental and economic performance to create more value with less impact. Companies become eco-efficient through the delivery of competitively priced goods and services that satisfy human needs and bring quality of life, while progressively reducing ecological impacts and resource intensity throughout the life cycle, to a level at least in line with the earth's estimated carrying capacity. To succeed, companies need to: (1) Reduce the material intensity of their goods and services (2) Reduce the energy intensity (3) Reduce the dispersion of toxic substances (4) Enahnce material recyclability (5) Maximise the sustainable use of renewable resources (6) Extend material durability (7) Increase the service intensity of their goods and services.
Eco-efficiency is intended to help companies support sustainable development by encouraging businesses to adapt to new ways of working without immediately abandoning their traditional practices. Its philosophy links the business concept of value creation to environmental concerns, creating value for society and the company by doing more with less over a product or service life cycle.
2. There are many contributions to improved environmental performance and quality which business is uniquely placed to make, but these must fit into a framework of science-based, non-discriminatory environmental regulations relevant to the country or region concerned.