Environmental Due Diligence: Emerging Contaminants and Changing Standards
Spring 2022
Publication| Environmental
Environmental due diligence is a significant component of commercial real estate transactions, and a Phase I environmental site assessment (“ESA”) is the usual starting point for due diligence. Although the Phase I ESA has become a near-commodity, not all assessments are created equal, and understanding the scope of what is (and is not) encompassed by a Phase I ESA is critical to making good business decisions. Recent changes in the Phase I standard, and the increasing regulatory focus on “emerging contaminants” like PFAS and Gen X chemicals, warrant a careful review of environmental due diligence practices to ensure that risks are identified and well understood.