Business Environmental Risk – Defined by ASTM as “a risk which can have a material environmental or environmentally-driven impact on the business associated with the current or planned use of a parcel of commercial real estate, not necessarily limited to those environmental issues required to be investigated in this practice (ESA, ASTM E1527-05). Consideration of business environmental risk issues may involve addressing one or more non-scope considerations.”
The differences between a recognized environmental condition (REC) and business environmental risks (BER) can be challenging to navigate. While a REC is the actual or likely presence of hazardous substances, a BER does not generally trigger a Phase II investigation. However this does not mean a BER should be overlooked. When hazardous substances or compromising conditions are noted in an investigation, there is always the risk potential. Business environmental risk assessments characterize the nature of risk that may be present in the environment so data can be used in developing the site and designing mitigation systems.
Environmental due diligence identifies and manages risks and exposures related to property acquisition or divestitures, which is vital to maintaining and preserving the value of the investment. Our goal is to prevent these risks from becoming an issue and impacting the transaction or business, protecting our the client and the banks interests.
For more information regarding Due Diligence/BER issues contact:
Kristin Heimburger, Director of Environmental Consulting at kristin@ttienv.com or Tim Popp, VP of Environmental Consulting at timp@ttienv.com
For more information on Environmental Services visit https://ttienvinc.com/services/environmental-consulting/ and for more information on our Industrial Hygiene Services visit https://ttienvinc.com/services/industrial-hygiene/
