define the relationships envisioned by Ecoefficiency . four broad objective are revealed: (l) reduce the consumption of resources, (2) reduce the environmental impact 3 increase product value 4 reduce environmental liability. Reducing the consumption of resources entails such things as reducing the use of energy, materials. water, and land It also includes increasing product durability and enhancing product recyclability. Reducing environmental impact is primarily concerned with minimizing releases of pollutants the environment and encouraging the sustainable use of renewable resources. Increasing product value means that products are produced that provide the functionality that customers need but with fewer materials and resources. It also means that products are produced without degrading the environment, and their use and disposal are environmentally friendly. The fourth objective, reducing environmental liability, requires that a company identify and efficiently manage the risks and opportunities relating to environment. Achievement of the objectives requires a firm to seek opportunities to improve ecoefficiency, which brings us to the second level of Exhibit l4.9
Process improvement and innovation a familiar methods for increasing efficiency In this case, however, the objective i to increase ecoefficiency, which means. that process changes must focus simultaneously on reducing costs and improving environmental performance. Process improvement is most useful for improving relative environmental performance, but process reengineering is probably more suitable for major advances in ecoefficiency . “Reyalorizing by products "describes the search for ways to convert waste materials into useful products or useful inputs for other companies' products. LURA Group. , for example, converted the sludge from its wastewater treatment facility into commercial compost . Product redesign is another key method for improving ecoefficiency. Products can be redesigned so that they use fewer materials, a smaller variety of materials, and less toxic materials and are easier. to take apart for recycling while simultaneously providing a high degree of functionality for users. Finally, ecoefficiency can be improved by finding different and better ways of satisfying customer needs. This may entail redefining markets and reshaping supply and demand. For example, providing a. service instead of selling a product has the potential of creating higher resource efficiency and less pollution. Car sharing is an example of this last approach