Thursday, May 30, 2013 12:00 AM

Lender Environmental Risk Management: The Phase I Environmental Site Assessment (ESA) – What for? How come?

By: Joseph W. Berlin PE, CFE, EP
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As scientists we love our acronyms and geekspeak. Many business people get frustrated with “those pointy heads”. Somewhere in the middle we each need to understand why we do what we do. In essence, the purpose of environmental work is, generally, for a lender to understand the potential environmental impact of a property on a business’s cashflow and collateral value. The purpose of fulfilling “all appropriate inquiry” (AAI) (40 CFR 312) is to meet the Landowner Liability Protections (LLPs) .... More


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