A4.6 Eco-efficiency
The term Eco-efficiency refers to both economic and ecological efficiency. The aim is to produce goods and services that we need to improve our quality of life, but in a way that reduces the environmental impact. Some consider it to be “doing more with less”.
The concept differs from sustainability, as eco-efficiency only considers the economic and environmental elements. Sustainability considers economic, environmental and social elements.
It encompasses issues such as waste reduction, recycling and energy efficiency. There should not be a reliance on non-renewable resources, or hazardous and polluting components. To be eco-efficient a product should also have a long-life span and be recyclable at the end of its life.
There is a strong business case for Eco-Efficiency. Through measuring your eco-efficiency, perhaps through the setting of objectives and targets, you will be able to:
- Monitor performance.
- Identify opportunities for improvement.
- Identify cost savings.
- Monitor progress.
- Provide information to third parties such as stakeholders and investors.
- Report publicly on your achievements.
- Add a competitive slant to your marketing campaigns through demonstrating the environmental credentials.