Site Assessment & Due Diligence Studies
Environmental liability typically results from potential, current, or past releases of oil or hazardous materials that present risks to human health, public safety, or the environment. With the growing awareness of environmental issues and the enactment of these laws, greater incentives now exist for the assessment of environmental impacts associated with past and current operations and practices at facilities and properties. NAPESCO possess a diverse range of technical expertise and provide clients with a broad spectrum of environmental assessment services.Phase 1 Environmental Assessments (also known as Due Diligence studies) are conducted to protect a property owner from assuming an unknown environmental risk. Environmental Due Diligence (EDD) is the due diligence exercise carried out with primary focus on Environmental issues (health and safety can also be considered) that may have an implication on the transfer of liability that would take place as a result of the Merger and acquisition. The assessment gathers available information regarding past or present site activities which have the potential to cause environmental contamination.
Standard components of a Due Diligence report are:
- Identification of past and present site ownership and uses.
- Inspection of the entire site and any structures for the presence of potentially hazardous building materials
- Description of site environmental characteristics; such as the size, layout, extent of development, natural features, etc.
- An assessment of hazardous material or waste storage, handling, or disposal practices.
- An assessment of nearby properties whose activities may have an environmental impact on the subject property.
- Conclusions regarding potential problems and recommendations for further action.
NAPESCO provides various Environmental Assesment and Due Diligence Studies uses a review of available records, historical research, inspection of the site and interviews with tenants, owners or public agency officials to evaluate the potential environmental liabilities associated with a property.