Three definitions that I think explain the term eco-efficiency best.
Eco-efficiancy
The development of technologies that generate economic growth, but which do so at minimal cost to the environment.
http://www.polity.co.uk/giddens5/students/glossary/default.asp
Eco-efficiency
Put at its simplest eco-efficiency is about making more and better products with less (materials and being more energy efficient) and which last longer.
http://www.sd3-global.com/glossary.html
Eco-efficiency
The delivery of competitively priced goods and services that satisfy human needs and bring quality of life, while progressively reducing environmental impacts and resource intensity throughout the life cycle, to a level at least in line with the earth’s estimated carrying capacity.
http://www.ami.ac.uk/courses/topics/0100_gls/glossary/glosse.htm
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