Environmental Due Diligence
Phase I Environmental Site Assessment (ESA)
Phase I ESAs are an integral part of the environmental due diligence and decision-making process. Phase Is are typically required by lenders or purchasers to identify whether there is a potential for contamination or other conditions that may affect property values, pose a legal or financial liability, or affect the ability of the borrower to repay a loan obligation. Clients may also obtain a Phase I ESA in order to satisfy requirements of the “innocent landowner defense”, or liability against responsibility for a cleanup project.
Environmental Transaction Screen (ETS)
An ETS is the most basic assessment, often ordered to meet ASTM 1528-06 Standard Practice for Limited Environmental Due Diligence: Transaction Screen Process.