The Environmental Due Diligence represents a fundamental process in the context of real estate sales for an adequate quantification of the value of the asset, contributing to the identification of any environmental liabilities and quantifying the related costs.
The Environmental Due Diligence is normally divided into two phases according to the level of depth of the investigation: the phase I environmental audit and the phase II environmental investigations (if necessary). The due diligence phases are described in more detail in the following paragraphs.
Anderson Environmental has assisted a wide range of clients, both sellers and buyers, by performing environmental assessments on different sites.The company has provided the following services to multinational industries, real estate operators, providing targeted support according to the type, objectives and context of the operation.
Carrying out Phase 1 and Phase 2 ESA in Toronto and Ontario;
Support in defining the contractual aspects and clauses relating to the issues of environment and safety in the workplace;
Assistance during the negotiation phases;
Post-transaction assistance.
The process of environmental assessments develops through a Phase I, starting from the verification of the documentation made available in physical or virtual data rooms, followed by inspections aimed at identifying possible critical issues of an environmental nature in order to provide a preliminary assessment of the state of affairs and identify the investigations that may be necessary for their verification.
Phase I environmental audit
The Phase I activity carried out by experts mainly develops through a documentary check and a site visit, at the end of which some non-conformities and some liabilities can already be identified and the related compliance costs can be estimated.
Where the information obtained during phase I is not sufficient to achieve the objectives of the due diligence, it may be recommended to carry out phase II environmental investigations.
Phase II environmental investigations
The Phase II activity, defined on the basis of the results of the Phase I activity, involves direct investigations (e.g. sampling, laboratory analysis) aimed at identifying and delimiting the potential environmental liability such as:
Environmental investigations on soil, subsoil and groundwater;
Integrity test on underground tanks;
Transformer oil analysis;
Identification and sampling of materials containing asbestos and dangerous mineral fibres;
Verification of the presence of hazardous gases.
As part of environmental assessments, in particular for investigations on the soil and subsoil and asbestos, thanks to the consolidated collaboration with leading analysis laboratories and drilling companies, Anderson Environmental is able to take action in a very short time, so as to be able to comply with any short-term deadlines requested by the customer.
In the event that the phase II investigations should highlight phenomena of contamination or the presence of materials containing asbestos, experts of the industry can assist in the identification of the related risks, in the estimate of costs and in the procedure to be activated, providing indications on the relative times necessary to arrive at the solution of the problem.
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