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Much research has been conducted on factor and eco-efficiency as an assessment method of environmentally-conscious or "Green" products and services (hereafter GPs). However, a generally applicable measurement or assessment method for a specific object is not clear and no standard assessment method has yet been established. Therefore, a new indicator was independently developed by taking these concepts and considering three viewpoints of "prevention of global warming (energy saving)," "effective utilization of resources" and "use of nontoxic materials," and the calculated result was reported. This indicator was developed as a qualification standard of GPs and has been used internally for accelerating GP development by reflecting it to business performance evaluation, while it has been used externally for propagation and penetration of GPs by positioning the product via a Type II environmental label. This paper describes a detailed calculation method and verifies the effectiveness of this indicator by comparing with other calculation methods. The calculation method of product functionality is also proposed in the end.