Case StudiesDue Diligence Phase I and II (0019) Brownfield Assessment and Remediation (0068b) Site Acquisition Support, Due Diligence (0071b)
Phase I Environmental Site Assessments (ESAs), or environmental due diligence audits, are commonly required by financial institutions for property acquisition or divestiture, and property leases.
A typical project is likely to involve a desk study (review of historical data and environmental databases) and site visit to establish the site’s environmental setting, identify existing conditions and determine current and historic practices. The subsequent factual reporting of the assessment will highlight potential risks and, if required, estimate potential liabilities. A legal compliance assessment, potentially including consultations with regulators, can also be added into the package depending on the individual project and client requirements.
What is the benefit?
The Phase I ESA informs the client of any material environmental impairments and regulatory compliance issues at a site or portfolio of properties. Conducting due diligence and compliance audits is a useful tool in reducing or managing the risks associated with purchasing properties or companies, including:
- Reduction in site value due to contamination;
- Potential land remediation costs; and
- Legal compliance costs and potential operating constraints.
In many cases, CRA’s capabilities have enabled clients to achieve significant benefits when negotiating costs associated with acquisitions or divestitures, through effective understanding and communication of potential environmental impairments or mitigation of liabilities associated with a property or property portfolio.
CRA has conducted environmental due diligence as part of acquisitions, mergers and divestitures throughout the UK and Europe for a wide variety of clients.
CRA is able to meet aggressive implementation and reporting requirements that are often necessary for the divestiture or acquisition of individual property and/or multiple sites for property portfolios. Our expert staff are able to give support on legal/regulatory viewpoints and will provide negotiation assistance.
Depending on your requirements, CRA can conduct the assessment in accordance with ASTM Standard E1527-05 for conducting environmental assessments, tailoring the assessment to client specifications and/or base it on specific compliance requirements, such as health and safety, and regulatory compliance standards.
CRA has a long-standing group of partners throughout Europe and is establishing relationships with a wider network of associates, to provide global coverage for our environmental site assessment services.
For additional information on how CRA could assist you, please contact Jo Steele on email@example.com or 0115 965 6700.