As detailed previously, the Inflation Reduction Act (IRA) offers incentives to renewable energy development that takes place on certain properties that are affected by potential or confirmed contamination. Under the IRA, a...more
Effective February 13, 2024, prospective purchasers and ground tenants of commercial and industrial property seeking liability protections under the Comprehensive Environmental Response, Compensation, and Liability Act...more
On April 19, 2024, EPA issued its long-awaited Final Rule officially listing two key per- and polyfluoroalkyl substances (PFAS), or so-called “forever chemicals,” as “hazardous substances” under the Comprehensive...more
Every eight years, standards for environmental Phase I reports are updated – and, typically, made more detailed and stringent. The standards were most recently updated in 2021, and the updated version was approved by the U.S....more
On December 22, 2022, EPA authorized use of the latest version of the ASTM standard for performing Phase 1 environmental site investigations—E1527-21, as an option for satisfying Superfund’s all appropriate inquiries (AAI)...more
On December 15, 2022, the United States Environmental Protection Agency (EPA) amended its All Appropriate Inquiries Rule, publishing a final rule that incorporates an updated Phase I Environmental Site Assessment standard...more
On December 15, 2022, U.S. EPA issued its final rule adopting the ASTM E1527-21 standard for Phase I environmental site assessments as meeting the All Appropriate Inquiries (AAI) requirement to qualify for new owner and...more
After the real estate boom in the Southeast over the past few years, there are fewer and fewer examples of clean and pristine land available for commercial or industrial use. That means more properties at risk for...more
On November 1, 2021, the American Society for Testing and Materials (ASTM) revised the standard for conducting Phase I Environmental Site Assessments (ESAs). The goal of an ASTM Phase I ESA is to identify the confirmed...more
In mid-March, the U.S. Environmental Protection Agency (EPA) issued a direct final rule approving ASTM International (ASTM) Standard E1527-21 as an additional standard meeting the all appropriate inquiry (AAI) component for...more
On March 14, 2022, the U.S. Environmental Protection Agency issued a direct final rule approving the American Society for Testing and Materials (ASTM) International Standard E1527-21 for Phase I environmental site assessments...more
First established back in 1993, Phase I Environmental Site Assessments have become a ubiquitous component of environmental due diligence supporting most commercial and industrial real estate transactions in the United States....more
In November 2021, ASTM International published a new technical standard for the Phase I environmental site assessment (ESA) process – E1527-21. The new E1527-21 largely mirrors the previous E1527-13 ASTM standard, adopted in...more
In November 2021, the ASTM International released a new standard entitled ASTM E1527-21 to govern how environmental professionals prepare Phase I environmental assessments of real estate property. The new standard will...more
Every eight years, ASTM International's standard-setting committees are required to reevaluate existing ASTM standards. The ASTM E1527-13 Standard Practice on Phase I Environmental Site Assessments (ESAs) is required to be...more
Changes are on the way for ASTM’s Phase I Environmental Site Assessment (“Phase I”) standard, the almost 30-year-old lynchpin of the transactional due diligence process. The American Society for Testing and Materials (“ASTM”)...more
ASTM International is required to review and either update or renew the existing version of its ASTM E1527 Phase I Environmental Site Assessment standard (Phase I ESA standard) every eight years. Since the current version...more