Environment Management Newsletter
June 17, 2010
This Week“s Featured News Stories
BP Establishes $20 Billion Claims Fund for Deepwater Horizon Spill and Outlines Dividend Decisions
Following a meeting with the President of the United States, the BP Board announces an agreed package of measures to meet its obligations as a responsible party arising from the Deepwater Horizon spill.  Agreement was reached to create a $20bn claims fund over the next three and a half years on the following basis: 
  • BP will initially make payments of $3bn in Q3 of 2010 and $2bn in Q4 of 2010. These will be followed by a payment of $1.25bn per quarter until a total of $20bn has been paid in.
  • While the fund is building, BP"s commitments will be assured by the setting ...
Brownfields - Americas largest untapped Urban resource
The U.S. Conference of Mayors (USCM) today released a national report on the status of Brownfield sites in 150 American cities. Brownfields are abandoned or underutilized properties where expansion or redevelopment is complicated by either real or perceived environmental contamination. As a result, Brownfields present a major challenge for both small and large cities - primarily due to the lack of funding necessary to redevelop and/or recycle these lands.  This report is the eighth in a series of reports that documents the impediments to brownfields redevelopment faced by local communities ...
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