An expanding range of environmental risks can give rise to environmental liabilities for organisations as they acquire and divest businesses and property portfolios.
Historic land use and development practices can cause significant ground contamination beneath properties, which poses risk to human health and the environment. Contamination can also significantly increase disposal costs for developers.
Bespoke transaction and environmental due diligence services tailored to address contingent liabilities and unknown liability risks.
ERS provides bespoke environmental due diligence services tailored specifically to each project that quantifies:
- Foreseeable contingent liabilities, such as the requirements and costs to remediate contaminated land or to address a regulatory non-compliance.
- Unknown liability risks, such as the risk of ground contamination being present on a site.
We proactively support clients to overcome uncertainty, develop solutions and negotiate deals.
Project examples where we have added value for clients.
- The National Assets Management Agency (NAMA) during the development of two brownfield sites in the Dublin Docklands area.
- A large semi-state company during the acquisition of a former fertiliser manufacturing facility where soil and groundwater contamination was present. The site retained a legacy EPA Licence that required surrender.
- A port company negotiating the surrender of leases by three oil companies where residual petroleum hydrocarbon contamination was present in soil and groundwater. Commercial and remediation settlements were agreed to facilitate future redevelopment.
- International investors during environmental due diligence assignments at commercial, healthcare, industrial and tourism properties across Ireland where ground contamination and environmental risks were present.
- Acting as an Expert Witness in the High Court during a landlord tenant dispute.
Emerging Risks
Investors should be mindful of emerging risks that we see in the marketplace, including:
- Climate change hazards such as increased rainfall leading to pluvial flood risk.
- Persistent organic chemicals in the environment such as PFAS & PFOS compounds that were widely used in fire fighting foam applications.
- Asbestos in soil, which is frequently found in urban made ground \ fill materials.
Experience
Shane Herlihy has developed and led training courses for EPA inspectors and licence operators on environmental liability, closure planning and financial provision (ELRA, CRAMP & FP).
