IEEFC was established in 2014 and aims to promote a community of stakeholders (including public authorities and businesses) committed to the environmental, economic and social transition.

Its focus is the functional economy: encouraging people to buy the use of an item rather than the item itself. This approach limits the amount of resources needed to meet people's needs. 

The Institute fosters cooperation between public and private stakeholders. It is active in knowledge sharing and awareness raising, organising workshops and visual aids. It encourages networking and acts as a discussion forum, with a network of clubs in France and two in Brazil.

It also has a library of publications on the functional economy.