This term is associated with a business/group or individual who engages in or who presents themselves as being a subscriber to sound science based eco and environmental principals; when in fact they are either:
a) solely being 'Eco' for personal or monetary gain, with little real regard for any eco or environmental principals or,
b) totally misrepresenting, misapplying or distorting sound scientific based eco and environmental principals to add weight to an argument or issue.
The first case is usually very deliberate in intent; whereas with the second case, a person or group can be 'duped' into believing and then promoting an 'eco fact' - when in fact it may have little empirical or scientific basis when the bigger picture (either in time or space) is considered.
This in itself is nothing new, misquoted and misunderstood information abounds in everyday life; but what is concerning is the degree of lack of question and real knowledge share that often occurs when people are confronted with an 'Eco fact'; please demand to be informed. Remember: a decision based on ecofraud info could well be doing longer term harm to our Environment.