The Phase I Environmental Site Assessment (“ESA”) is the quintessential environmental diligence tool for transactions involving real property. A Phase I ESA includes a site inspection and review of current and past uses and ownership, among other things, to evaluate actual and potential environmental conditions. If performed in accordance with the All Appropriate Inquiry Rule (“AAI Rule”), a Phase
Continue Reading It’s Official! ASTM E1527-21 is the New Phase I Environmental Site Assessment Standard
When it comes to pre-acquisition environmental due diligence, a properly prepared Phase I ESA is the ounce of prevention that is worth a pound of cure. Phase I Environmental Site Assessments (“Phase I ESA”) are a routine due diligence requirement of any commercial transaction involving real estate. A Phase I ESA generally consists of four main components, including a site
On October 5, 2021, the New York State Department of Environmental Conservation (“Department” or “DEC”) released water quality guidance values for three emerging compounds, PFOA, PFOS and 1,4-Dioxane (collectively, “Emerging Compounds”). The comment period for the draft guidance values runs until November 5, 2021. Comments can be issued to the Department at 625 Broadway, 4th Floor, Albany, NY 12233-3500, ATTN:
In May 2021, the Supreme Court ruled in Territory of Guam v. United States, 593 U.S. __ (2021), on the issue of whether a settlement resolving environmental liabilities was sufficient to establish a right of contribution for a settling-party against a non-settling responsible party pursuant to the Comprehensive Environmental Response Compensation and Liability Act (“CERCLA”), 42 U.S.C §9613(f)(3)(B). The
Local Law 97 of New York City’s Climate Mobilization Act (the “Act”) is the City’s aggressive greenhouse gas emission reduction plan for buildings. The City has published figures indicating that approximately 70% of greenhouse gas emissions are attributable to the City’s building stock. The Act sets lofty emission reduction goals for existing buildings, with emission limits that become stricter over
On March 2, 2021 New York’s Office of Renewable Energy Siting (“ORES”) issued final regulations governing the siting of major renewable energy facilities pursuant to obligations established by the Accelerated Renewable Energy Growth and Community Benefit Act (the “Act”). The regulations serve as a tool to achieve the climate change targets established by the Climate Leadership and Community Protection Act