EFTEC

What EFTEC does

EFTEC (Economics for the Environment Consultancy Ltd) is a privately-held UK boutique consultancy founded in 1992, headquartered in London with an EU office in Cork, Ireland. The firm specialises in environmental economics, applying non-market valuation techniques (travel-cost, hedonic pricing, contingent valuation, choice modelling), natural capital accounting aligned with UN SEEA and TNFD frameworks, socio-economic analysis for chemicals regulation (REACH, RMOAs), and cost-benefit / cost-effectiveness appraisal. Its client base spans UK and devolved government departments (Defra, Environment Agency, JNCC, Natural England, Scottish and Welsh Governments), EU institutions (European Commission, Eurostat, OECD), UK water utilities, manufacturers, NGOs (RSPB, Wildlife Trusts, Blue Marine Foundation), and international development bodies (Commonwealth Secretariat, Caribbean Overseas Territories).

The firm's intellectual property centres on methodology rather than software. Its proprietary ENRICH Framework (Environmental Risks and Impacts of Chemicals) — a five-step architecture integrating toxicology, ecology and economics — was co-developed with UKCEH and wca-environment for Defra in 2024. EFTEC has also been directly involved in drafting the EU Ecosystem Accounts Handbook (Eurostat, April 2025) with VITO, and in developing ISO 14054:2025 on Natural Capital Accounting for Organisations, chaired by CEO Ece Ozdemiroglu. The firm has produced over 800 projects for 200+ clients and built a primary evidence base of approximately 100 economic valuation studies and 50+ natural capital accounts across four continents.

EFTEC monetises through professional services — bespoke project-based consulting fees negotiated on scope, team composition and client type. It is founder-controlled (no disclosed external funding), holds ISO 9001:2015 certification since 2008, is a Living Wage Employer, and operates with a core team supplemented by an academic associate network (LSE, UCL, Exeter, Manchester, Glasgow, Oslo). Distribution is direct via government procurement frameworks, repeat clients, referrals and thought-leadership-driven inbound enquiries. The firm does not publish pricing, ARR or revenue figures.

Name

EFTEC

Legal name

eftec - Economics for the Environment Consultancy Ltd

Website

https://eftec.co.uk

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

EFTEC is a London-based environmental economics consultancy founded in 1992, providing natural capital accounting, economic valuation, socio-economic analysis and policy advisory to UK and international governments, regulators, NGOs and corporates across 800+ projects.

Ownership category

akta.pro rank

Product category

Environmental Economics Consulting

NAICS

Environmental Consulting Services (54162), Management, Scientific, and Technical Consulting Services (5416)

SIC

Services-Engineering, Accounting, Research, Management (8700), Services-Commercial Physical & Biological Research (8731)

akta.pro primary industry

Sustainability, ESG & Climate Risk Advisory (BPAHAJAH)

akta.pro secondary industries

Enterprise Carbon Accounting & GHG Inventory Platforms (EUABAEAA), Net-Zero Assurance & Readiness Assessments (limited assurance prep, audit support) (EUABAKAJ), Carbon Market & Policy Advisory (Compliance Schemes, ETS Design, Article 6) (EUABADAA)

Keywords

• Environmental economics consulting
• Natural capital accounting
• Economic valuation services
• Chemicals policy advisory
• Appraisal and evaluation

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Environmental Economics Consultancy Services: EFTEC generates revenue by providing paid consultancy services across its practice areas including natural capital accounting, economic valuation, appraisal and evaluation, chemicals policy, and policy design and advisory. Services are delivered to government agencies, NGOs, and private sector clients on a project contract basis. Revenue is project-based consulting fees.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

EFTEC is the UK's first environmental economics consultancy, delivering advisory services that quantify the value of nature and inform environmental policy, investment, and regulatory decisions. Its core offerings include natural capital accounting (corporate and national accounts aligned with TNFD/CSRD/UN SEEA), economic valuation of environmental goods (using stated and revealed preference methods), appraisal and evaluation (cost-benefit, cost-effectiveness, impact assessments), chemicals policy advisory (socio-economic analysis and RMOAs for REACH regulation), policy design for net-zero and nature-positive economies, and bespoke training and coaching. The firm delivers these services through multidisciplinary teams of economists, supported by a network of academic associates from institutions including LSE, UCL, University of Exeter, and the University of Manchester.

Product overview

EFTEC is the UK's first environmental economics consultancy, providing specialized advisory services rather than a software product. Their portfolio consists of six interconnected service offerings: Natural Capital Accounting (measuring and valuing natural assets for disclosure frameworks like TNFD), Appraisal and Evaluation (cost-benefit and impact assessments), Chemicals Policy (socio-economic assessment for chemical regulations including REACH), Policy Design & Advisory (designing net-zero and nature-positive policies), Economic Valuation (non-market valuation methods including travel-cost, hedonic pricing, and choice modelling), and Training, Support & Coaching (capacity building in environmental economics). Additionally, they developed the ENRICH Framework, a five-step toolkit for measuring and valuing chemical pollution impacts. These services are delivered through multidisciplinary teams assembled for each client and project, drawing from in-house expertise and a network of associates and partner organisations.

Differentiator

Problem solved

Functional benefit

Products and services

• Natural Capital Accounting Measuring and valuing natural capital for accounting and disclosure. Brings client impacts and dependencies on nature to the income statement, balance sheet, and company disclosures through frameworks like TNFD. Designed for business, finance, and government clients at any scale from local to multinational.
• Economic Valuation Understanding the value of nature to people using specially designed valuation methods, including travel-cost valuation, hedonic pricing, contingent valuation, and choice modelling. Through understanding individuals' behaviour and preferences, estimates costs and benefits of policies, investments, and economic activity that markets fail to capture.
• Appraisal and Evaluation Advisory for investment and policymaking across infrastructure, resource management, health, and more. Advises on best allocation of resources using tools such as Cost-Benefit Analysis, Cost-Effectiveness Analysis, and Impact Assessments.
• Chemicals Policy Balancing safety, sustainability, and economic growth through socio-economic assessment. For regulators, businesses, and NGOs, assesses the costs and benefits of using or restricting chemical substances, including REACH authorisation and Risk Management Options Analyses (RMOAs).
• Policy Design & Advisory Designing policy for a net-zero and nature-positive economy. Develops economic instruments to reduce environmental costs and ensure public money is spent to provide public benefit, plus policies to reverse damage to the natural environment, channelling action and investment in nature restoration and maintenance.
• Training, Support & Coaching Bespoke courses on economics, policy, and natural capital accounting, plus coaching to enable clients to develop in-house capacity for economic appraisal and natural capital accounting.
• ENRICH Framework (Environmental Risks and Impacts of Chemicals) A five-step conceptual framework for analysing environmental impacts of chemical substances, integrating knowledge from toxicology, ecology, and economics to compare relative impacts on ecosystems of all substances. Steps include Hazard and Potency Assessment, Exposure and Species Sensitivity, Identification of Ecosystem Endpoints, Quantifying Ecosystem Endpoint Impacts, and Connecting to Ecosystem Services and Economic Value. Designed to produce consistent, comparable outputs across substances even where full data are unavailable.

Quantifiable outcome

• £22 billion+ per year contribution of nature to UK economy through tourism and outdoor leisure (1% of UK GDP)
• +7 more outcomes

Named customers25 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

19 partnerships are on record, tiered core and minor.

• wca (wca-environment)coreStrategic or Co-development Partner · 1 January 2024wca-environment partnered with EFTEC and UKCEH on the Defra-funded ENRICH Framework project to develop a conceptual framework for analysing environmental impacts of chemical substances. wca contributes expertise in environmental assessment and chemical risk evaluation.
• UKCEH (UK Centre for Ecology and Hydrology)coreStrategic or Co-development PartnerEFTEC collaborated with UKCEH to develop the ENRICH Framework for measuring and valuing the environmental impacts of chemical pollution in the UK, funded by Defra (2024). UKCEH contributes ecological and scientific expertise to the five-step framework that integrates toxicology, ecology, and economics.
• UKSIF (UK Sustainable Investment and Finance Association)minorOthersEFTEC is a member of UKSIF, the UK Sustainable Investment and Finance Association, supporting sustainable finance and responsible investment in the UK.
• Aldersgate GroupminorOthersEFTEC is a member of the Aldersgate Group, an alliance of organisations from business, politics and civil society that advocates for ambitious climate and environmental policies.
• Capitals CoalitioncoreOthersEFTEC serves as an Advisor Panel Member of the Capitals Coalition. The company's Director Ian Dickie is also a member of advisory panels for the Capitals Coalition and Peatland Code. The partnership supports development and adoption of natural capital accounting frameworks.
• Ecosystem Knowledge NetworkminorOthersEFTEC is a Corporate Partner of the Ecosystem Knowledge Network, which supports the development and application of ecosystem knowledge and natural capital approaches.
• UK Network for Environmental Economists (UKNEEE)coreOthersEFTEC's CEO Ece Ozdemiroglu co-founded the UK Network for Environmental Economists (UKNEEE) in 2004, a network that continues to promote the field and connect environmental economists in the UK.
• Intep (Integrale Planung GmbH)coreStrategic or Co-development PartnerEFTEC partnered with Intep and the European Institute for Energy Research (EIFER) on a project funded by the German Environment Agency (Umweltbundesamt) to advance the standardisation of environmental costs in Berlin (2026). Intep organised the workshop bringing together project partners.
• European Institute for Energy Research (EIFER)coreStrategic or Co-development PartnerEFTEC partnered with EIFER and Intep on a project to standardise environmental costs for the German Environment Agency. The project aims to make environmental costs easier to apply for more well-founded, transparent, and impactful policy and investment decisions.
• VITO (Belgian research organisation)coreStrategic or Co-development PartnerEFTEC was part of a team led by VITO (with e-counting and IDEEA group) that co-authored the EU Ecosystem Accounts Handbook published by Eurostat (April 2025). The handbook provides practical guidance for Member States to implement SEEA Ecosystem Accounting.
• Joint Nature Conservation Committee (JNCC)coreStrategic or Co-development PartnerSince 2017, EFTEC has worked with JNCC on ecosystem accounting in UK Caribbean Overseas Territories. This long-term partnership has produced individual territory accounts and established the UK Overseas Territories Ecosystem Accounting Network in 2021.
• Darwin InitiativecoreStrategic or Co-development PartnerEFTEC received Darwin Initiative Grant funding (2020–2022) to support the Caribbean Overseas Territories Natural Capital Accounting Programme, working with JNCC and local government departments across Anguilla, Cayman Islands, Montserrat, Turks and Caicos Islands, and Virgin Islands.
• Fishmongers' Companies Fisheries Charitable TrustcoreStrategic or Co-development PartnerEFTEC received funding from the Fishmongers' Companies Fisheries Charitable Trust in 2022 to continue marine and coastal ecosystem valuation work across Caribbean UK Overseas Territories, supporting understanding of the value of marine ecosystems for fisheries management.
• Academic Associate NetworkcoreOthersEFTEC draws on a network of academic associates including Professor Giles Atkinson (LSE), Professor Ian Bateman (University of Exeter), Professor Nick Hanley (University of Glasgow), Professor Susana Mourato (LSE), Professor Dan Rigby (University of Manchester), and others. These academics provide specialist expertise on project teams.
• Defra (Department for Environment, Food and Rural Affairs)coreStrategic or Co-development PartnerDefra is a primary client and long-term partner, funding multiple major projects including the ENRICH Framework, national natural capital accounts, ecosystem contribution to tourism studies, ELMs test and trials, and biodiversity net gain analysis. The relationship involves co-development of methodology and frameworks.
• REACH Metals Gateway / European Metals (Eurometaux)coreStrategic or Co-development PartnerEFTEC has partnered with European Metals (formerly Eurometaux) through multiple updates to the Risk Management Options Analysis (RMOA) guidance for the metals sector, first developed in 2015 and now in its 7th update, publicly available on the REACH Metals Gateway.
• Cobalt InstituteminorStrategic or Co-development PartnerEFTEC developed socio-economic assessment work for the Cobalt Institute to support the Carcinogens, Mutagens or Reprotoxic Substances Directive (CMRD) process for cobalt and cobalt substances, presented at European Metals workshops.
• BSI (British Standards Institution)coreStrategic or Co-development PartnerEFTEC's CEO Ece Ozdemiroglu chairs the BSI Assessing and Valuing Natural Capital Committee (SES/1/8) and convener of ISO Working Group (ISO TC 207/SC1/WG14) that developed ISO 14054:2025 on Natural Capital Accounting for Organizations. She was also technical editor of the BSI Nature Market Principles Flex701 Standard.
• German Environment Agency (Umweltbundesamt)coreStrategic or Co-development PartnerEFTEC partnered with the German Environment Agency through a project with Intep and EIFER to advance standardisation of environmental costs (umweltkosten) for use in companies and administrations across Europe.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• South Pole Group: South Pole is a climate solutions and advisory firm offering nature-based solutions, carbon credit development and corporate climate strategy. It intersects with EFTEC on carbon/nature market advisory but focuses more on project development and carbon finance than pure economic valuation.
• Metabolic: Metabolic is a sustainability consulting and venture studio working on nature-positive economy, circular economy and natural capital for governments and corporates. It overlaps with EFTEC on environmental economics and policy design but differentiates through systems modelling and venture-building.

Direct peers

• Vivid Economics: Vivid Economics is a specialist environmental and climate economics consultancy that competes head-to-head with EFTEC in cost-benefit analysis, climate finance, and natural capital valuation for governments and corporates. It is the closest comparable by service mix and customer base.
• CE Delft: CE Delft is an independent research and consultancy organisation specialising in economic analysis of environmental, transport and energy issues, producing valuations and policy advice for Dutch and EU government clients closely paralleling EFTEC's methodology and clients.
• Trinomics: Trinomics is a Dutch-EU policy consultancy specialised in environmental, climate and energy economics, serving European Commission and Member State clients on impact assessment and valuation studies — directly overlapping EFTEC's European policy and appraisal work.

Broad incumbents

• WSP Environment & Sustainability: WSP is a global engineering and environmental consultancy with a substantial natural capital and environmental economics practice serving public and private sector clients. It competes with EFTEC particularly on government appraisal and infrastructure valuation mandates at larger scale.
• Ricardo Energy & Environment: Ricardo plc operates a major environment and chemicals policy practice covering socio-economic analysis for REACH and UK/EU regulation, directly overlapping EFTEC's chemicals policy service line while offering broader engineering and transport services.
• AECOM Environment: AECOM is a global infrastructure consulting firm with an environmental economics and natural capital capability serving governments and developers. It competes with EFTEC on large environmental impact assessments, appraisal, and natural capital work as part of a broader engineering portfolio.
• ERM (Environmental Resources Management): ERM is a global environmental consultancy offering natural capital, sustainability and ESG advisory to large corporates and governments. It overlaps with EFTEC on natural capital accounting and valuation but competes across a much broader sustainability service portfolio at scale.
• KPMG Sustainable Futures: KPMG's sustainability practice provides natural capital accounting, TNFD-aligned advisory and ESG assurance to large corporates. It competes with EFTEC on disclosure-driven corporate engagements and has the audit-client cross-sell that EFTEC cannot match.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/eftecUK
• LinkedInlinkedin.com/company/eftec-economics-for-the-environment-consultancy-ltd-

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles25 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EFTEC