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
In general, an assessment comprises two Phases.
Phase 1 Site Assessments are carried out generally in accordance with recognized standards such as ASTM E 1527-00 and ASTM E 1528-00 which can be amended to country specific regulations. Phase 1 involves developing a site history, establishing background environmental conditions and a site inspection, which includes, where relevant an evaluation of the facility’s approach to environmental management and may, depending on the client’s needs, include a regulatory compliance evaluation (planning permission history, permit and licensing compliance assessment). Often, the report includes a Planning Development Potential Report which can be used to inform potential purchasers, vendors, developers or financial institutions of the likely value of a particular land or buildings asset in a planning context.
The findings of the Phase I assessment will determine if additional (Phase II) investigations are required. This can include sampling of soils, groundwater and surface waters 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.