Environmental due diligence is a critical component of any property transaction where potential environmental risks are a concern.
Environmental Due diligence is required as part of acquisitions, mergers and divestitures with the assessment focused on identifying actual or potential environmental liabilities arising from current and historical property usage and determining the costs of addressing these liabilities. The assessment generally includes a wider regulatory assessment to include planning permission compliance, permits and licences as applicable.
To help clients minimise risks and protect themselves from liability, Verde provide a clear understanding of the impacts with predicted costs. Our tailored advice is commercially focused, clearly communicated, delivered on time and backed with appropriate levels of professional indemnity cover. Verde offer a nationwide service and our service will help you:
- Understand the broad framework of potential environmental liability imposed by environmental regulations.
- Manage contaminated property transactions, including brownfield redevelopment projects.
- Successfully negotiate the scopes of work for and complete Phase I and Phase II environmental site assessments.
- Mitigate liability risks by creating an environmental risk management plan that considers environmental insurance, indemnification contracts, and compliance auditing.
- Anticipate remediation requirements and associated costs.
Whether you are buying or selling a piece of land or a business, we can help you clearly identify and understand the environmental risks and liabilities associated with the deal. Environmental Due Diligence comprises two Phases:
Phase I Environmental Site Assessment (ESA) is completed to research the current and historical uses of a property and identify potential or existing environmental contamination liabilities to determine whether environmental contamination is likely to be present at a property which may result in future environmental liability. It includes:
- a thorough desk based review of historical, environmental, geologic and hydrogeologic records of the property.
- a thorough site inspection, including all building interiors as well as all exterior property and grounds. This site inspection would include a visual inspection of the presence of features such as fuel or chemical storage tanks, the presence of stained soils, site activities, etc.
- completion of a Phase 1 Preliminary Risk Assessment (PRA) Report.
Once a Phase I ESA is complete, Verde will issue a report summarising any concerns identified on the property and make recommendations about what actions, if any are needed to address these concerns. The findings of the Phase 1 ESA will determine if a Phase 2 Environmental Site Assessment (Phase 2 ESA) is required.
A Phase II Environmental Site Assessment involves more detailed subsurface investigations such as the installation of boreholes to collect soil samples, wells to test groundwater and surface water, air monitoring, contaminated land assessment to establish the nature and extent of any environmental impact associated with the facility. The data is used to identify the need for and extent of any remedial measures and the likely associated costs.