What Constitutes Environmental Due Diligence? Different Levels of Due Diligence for Different Types of Acquisitions: Green Fields, Brownfields, Operating Terminals and Leases

摘要

What does environmental due diligence include? That depends on the nature of the acquisition. In the US, the standards for conducting environmental due diligence are set forth by the Environmental Protection Agency in Title 40 CFR Part 312: Innocent Landowners, Standard for Conducting All Appropriate Inquiry, which references the American Society for Testing and Materials (ASTM) E 1527-05 Standard Practice for Environmental Site Assessments: Phase 1 Environmental Site Assessment Process. But, in both cases, the standards leave it up to the environmental professional to determine the level of assessment that is warranted- for an acquisition and consult the client on all the options.